Bitget Analyst Ryan Lee Forecasts Bitcoin to Reach $150K in 2024 Amid ETF-Driven Recovery

Bitcoin has reclaimed the $100,000 threshold after testing support near $98,286, with bullish sentiment remaining strong despite mixed market signals. While extreme projections like Robert Kiyosaki's $250,000 year-end target grab headlines, Bitget Research Chief Analyst Ryan Lee offers a more measured outlook. Lee anticipates a 48.56% surge to $150,000 by 2024, without breaching the $200,000 mark. This recovery aligns with record inflows into Bitcoin ETFs, signaling growing institutional confidence. As of July 2025, the market continues to watch these developments closely, with Bitget's analysis providing a balanced perspective amid volatile predictions.

Bitcoin Price Outlook: Analyst Predicts $150K Target Amid ETF-Driven Recovery

Bitcoin reclaimed the $100,000 threshold after testing support NEAR $98,286, with bullish sentiment persisting despite mixed market signals. While extreme projections like Robert Kiyosaki's $250,000 year-end target dominate headlines, Bitget Research Chief Analyst Ryan Lee presents a tempered forecast—anticipating a 48.56% surge to $150,000 without breaching $200,000 in 2024.

The recovery coincides with record ETF inflows, including a $588.6 million single-day influx on June 28—the eleventh consecutive day of positive flows, marking the longest streak since December 2024. Institutional participation through regulated products now appears to be the dominant price catalyst, overshadowing retail speculation.

Bitget Burns 30M BGB Tokens in Strategic Supply Reduction

Bitget, a leading cryptocurrency exchange and Web3 company, has executed its scheduled burn of 30,001,053.1 BGB tokens, representing 2.56% of total supply. The $138 million reduction marks the second quarterly burn of 2025, bringing cumulative supply contraction to over 5% year-to-date.

The BGB token has emerged as a top-performing exchange asset this year, buoyed by expanding utility across Bitget's ecosystem. Trading volume and market capitalization metrics reflect growing demand for its staking, fee discount, and Launchpad access functionalities among the platform's 120 million users.

This burn mechanism operates as an automated program tied to platform revenue and token utilization metrics. The structured deflationary approach underscores Bitget's ecosystem growth while reinforcing BGB's role as the infrastructure pillar for user incentives and liquidity provision.