Ryan Lee, Senior Analyst at Bitget Research, says that Bitcoin and Ethereum are supported by stable institutional ETF demand and a low rate, while BTC is expected to break $80,000 to $85,000 in the short term and ETH is targeting $2,800 to $3,000.
Summary
- Bitget Research Senior Analyst Ryan Lee says the current rally has a stronger foundation than previous sales-driven cycles because it is led by institutional allocations rather than speculation.
- Lee expects gold’s rise near record highs to reflect the spread of money across multiple stores of value rather than a focus on one hedge.
- Oil’s remaining high adds significant pressure that could delay rate cuts and strengthen capital purchases, while crypto’s remaining upside is linked to institutional income continuing to absorb volatility rather than react to it.
Bitget Research Senior Analyst Ryan Lee says Bitcoin and Ethereum are still in a short-term trend supported by a strong institutional share, with ETF demand, low leverage, and improving market participation keeping both assets strong. As crypto.news reported, US ETFs logged eight consecutive days of inflows of $2.1 billion through April 23, the longest streak since October 2025, and BlackRock’s IBIT accounted for nearly 75% of all inflows in the category.
Bitget Research Sees BTC Break $80K to $85K on Sustained Entry
“The current move is not driven by an aggressive speculative stance, which gives the rally a firmer footing than previous cycles that were largely driven by selling momentum,” Lee said. In the short term, Lee expects Bitcoin to break above $80,000 to $85,000 with continued inflows, while Ethereum is expected to follow with gains of up to $2,800 to $3,000, driven by ecosystem development and widespread adoption. As crypto.news has written, the entry of the ETF institution and the purchase of the balance sheet have been strengthening the role of Bitcoin as a place to store digital money, analysts note that Bitcoin and Ethereum have performed better than gold indices and the broader price this year as the risk of places and high oil prices can generally favor the billion. Lee’s assessment that the rally has a stronger institutional base than previous sales-driven cycles coincides with that data: the eight-day influx drew in about 19,000 BTC versus about 2,100 BTC produced by miners in the same period, meaning institutional demand absorbed nine times as much new supply.
Gold and Oil Are Reshaping the Biggest Digital Asset Environment
Lee noted that holding gold close to highs indicates the continued need for a defensive asset as the market price from political uncertainty, sticky inflation expectations, and policy slowdowns across major economies. He interpreted this as a sign that capital is being spread across multiple stores of value rather than concentrated in one hedge. As tracked by crypto.news, Bitcoin ETF flows have proven sensitive to that change in 2026, as oil rose to $100 per barrel at the start of the year causing risk positions that pulled more than 296 million dollars out of Bitcoin ETFs in one week. Lee acknowledged that oil’s stay high adds another layer of pressure because higher energy costs could delay expectations of rate cuts and strengthen spending conditions across markets.
What Institutional Absorption Means for Crypto Positions in Portfolios
Lee said that in digital assets, the upside is still tied to whether institutional revenue continues to absorb volatility rather than reacting to it. “If that continues, crypto remains in place as part of a broader portfolio,” Lee said. As noted by crypto.news, Lee previously argued that ETF flows are not the only factor behind Bitcoin’s performance and that technical and macroeconomic catalysts combine with institutional positions to drive price action throughout cycles. The current situation, where institutional penetration is pulling supply at a rate nine times the mining rate, represents precisely the type of demand base that Lee’s framework identifies as more durable than speculative sales momentum.
