Bitcoin Bull Market Targets $250K by 2029 as ETF Inflows Signal Strength

Bitcoin’s price action and institutional inflows have prompted Tiger Securities analyst Bo Pei to declare the start of a new bull market, with a target of $250,000 by 2029. The projection rests on a network valuation of $5.25 trillion—equivalent to roughly 16.9% of the gold market’s estimated value—a benchmark that could narrow if gold prices rise by 20%–30% from current levels. Pei notes that cost-basis growth must reach between $147,000 and $167,000, implying an annualized increase of 24%–29% over the next three years, though this pace is slower than the ~39% surge observed after Bitcoin’s recovery from the April 2023 lows. The analyst argues that recent ETF inflows—totaling $4.20 billion from August 17 to September 21—reflect a reversal of prior outflows, with September 21 alone recording $937.3 million in inflows, the highest single-day figure since the October 2025 peak. Price momentum has also strengthened: Bitcoin cleared $82,814 in May before recovering 49.1% from its July low, briefly dipping below $76,000–$77,000 in recent weeks. The Federal Reserve’s 25-basis-point rate hike in September triggered a 5.9% drawdown, yet Bitcoin remained just 1.0% below its pre-decision level in the 24 hours following the announcement, suggesting resilience in demand. Tiger Securities’ earlier assessment in July had classified Bitcoin as in a late-bear market, but the analyst now sees structural tailwinds, including ETF adoption and institutional participation, underpinning the upward trajectory.