TD Cowen Lowers Bitcoin Year-End Price Target to $97,500, Lowers Strategy Target to $260

BlockBeats News, September 2nd, TD Cowen analyst Lance Vitanza set a year-end 2026 price target for Bitcoin at $97,500, which implies about 25% upside from the recent price level of around $78,000. At the same time, TD Cowen revised down its previous year-end 2026 baseline prediction from about $140,000 to around $100,000, and significantly lowered its previously more optimistic long-term expectations.

Vitanza stated that this revision is mainly due to the recent softness in the Bitcoin price and not due to deterioration at the company level or market structure. The current BTC trading range is around $58,400 to $78,000, with a retracement of over 50% from the previous high of over $126,000 and a monthly retracement of over 20% at one point. TD Cowen still considers further regulatory clarity and inclusion in broader indices as potential catalysts to drive market recovery.

As for Strategy, TD Cowen has lowered its target price from $400 to $260 but maintains a 'Buy' rating. This adjustment is mainly following the downward revision of Bitcoin price predictions, rather than a change in views on Strategy's operational performance or capital structure.

In addition, TD Cowen has initiated coverage on Strive, expecting the company to hold over 27,100 BTC by the end of 2026 and has given it a target price of $32, implying about 33% upside.