Bitwise Holds $200K Bitcoin Target, Citing Weaker Dollar Under Trump Administration
Bitwise Asset Management reaffirmed its bullish outlook for bitcoin (BTC), maintaining its $200,000 year-end price target in a Tuesday report, as the Trump administration signaled a push for a weaker U.S. dollar—an environment the firm says is highly favorable for crypto.
Matt Hougan, Chief Investment Officer at Bitwise, pointed to recent tariff developments as a key signal of the administration’s monetary direction. “The one thing I’m confident about amid the tariff drama is this: the Trump administration wants a much weaker dollar,” Hougan wrote.
Markets surged on Wednesday after President Trump announced a 90-day suspension of tariffs on countries that have not retaliated against the U.S., excluding China. Bitcoin reacted strongly, climbing to $82,300 by press time, as investors interpreted the move as a potential softening in global economic pressure.
Bitwise emphasized that bitcoin tends to perform well when the U.S. dollar weakens. Over the past five years, BTC has exhibited a negative correlation with the U.S. Dollar Index (DXY), and the asset manager expects this inverse relationship to persist in the near term.
But the real impact could be longer-term. “If the global macro system is destabilized, the door opens for new types of reserve assets,” said Hougan. The firm sees a shift away from dollar dominance potentially elevating bitcoin—and gold—as key stores of value in a more decentralized monetary landscape.
Despite recent volatility, Bitwise is sticking to its forecast, arguing that both macroeconomic forces and investor interest continue to build a strong case for BTC’s ascent toward $200,000 by the end of 2025.
