Tiger Research: Bitcoin Q3 target price is $190,000, with a potential short-term pullback

ChainCatcher news, Tiger Research released the Q3 2025 Bitcoin valuation report, predicting a target price of $190,000, which represents a 67% upside from current levels.

The report points out that accelerated institutional adoption, record global liquidity, and the opening of Bitcoin investments in U.S. 401(k) retirement accounts are the main driving factors. In addition, institutional holdings continue to increase, with ETFs holding 1.3 million BTC, accounting for about 6% of the total supply. Although on-chain indicators suggest a potential short-term pullback, institutional buying provides strong price support, and the long-term trend remains positive.