Prominent crypto analyst Miles Deutscher has shared a prediction for Bitcoin (BTC), claiming that the largest cryptocurrency will reach a new all-time high (ATH) between the third quarter of 2025 and the first quarter of 2026.
In a detailed post shared on social media, Deutscher acknowledged the current challenges in the market but urged investors not to lose sight of broader macroeconomic trends that could trigger a significant rally in BTC.
“Yes, it’s painful right now but I think people are missing the bigger picture and the eventual rally will be bigger than ever,” Deutscher said.
Deutscher’s thesis is based on several macroeconomic and geopolitical factors that he believes will come together to push Bitcoin higher over the next 12-18 months:
- Trump’s Economic Strategy: Deutscher believes the US President’s economic policies are aimed at inflicting short-term damage to the US dollar and yields, which markets are currently in the process of digesting.
- Tariff-Driven Treasury Dynamics: Deutscher argues that potential tariffs could reduce foreign demand for US Treasuries, pushing domestic absorption, which could significantly impact global liquidity, to which BTC is extremely sensitive.
- Recession Sentiment: Markets may plummet on fears of a recession, but history shows that once a recession is officially declared, markets typically begin pricing in quantitative easing measures from the Fed, according to Deutscher.
- Fed Response: Expects the Fed to eventually cut interest rates, possibly paving the way for a new round of quantitative easing in 2026. However, he noted that other liquidity tools such as repo operations, the Bank Term Funding Program (BTFP) and Treasury purchases could play more important roles in the short term.
Deutscher also commented on altcoins, suggesting that high-quality projects will mirror Bitcoin’s path and find a bottom before gradually recovering. Deutscher warned that low-quality assets may not survive the current tightening cycle, and that the elusive “alt season” will likely only occur after BTC has peaked.
*This is not investment advice.
