Swan Bitcoin CEO Cory Klippsten lowered the odds of Bitcoin reaching a new all-time high in 2026 to 25%.
Bitcoin News
Swan Bitcoin CEO Cory Klippsten has revised down his estimate for Bitcoin (BTC) reaching a new all-time high in 2026 to between 20% and 25%. Klippsten made the comments in an interview with Cointelegraph published May 27. He had previously put the probability at around 50% when BTC was trading near $95,000 earlier this year. #Bitcoin #BTC #BitcoinPrice #CryptoSentiment
"I'd probably handicap that down to like 20 or 25% chance that we get a new [high]," Klippsten said. He pointed to BTC's decline from $95,000 and the dip to $60,000 as reasons for the revised outlook. At the time of publication, BTC was trading at $73,630, according to CoinMarketCap.
Retail Demand Still Drives BTC Supply, Says Klippsten
Klippsten pushed back on the view that institutional activity has replaced retail as the main driver of Bitcoin demand. "It's not like BlackRock owns the Bitcoin and Fidelity owns the Bitcoin. It's a bunch of retail accounts mostly that actually buy that," he said. He noted that exchange-traded fund (ETF) purchases still draw from real BTC supply, even if the investor holds exposure through a fund wrapper.
"If you want real on-chain Bitcoin, the fact that you can get it is what makes Bitcoin unique," Klippsten said. He acknowledged that futures and other paper products can temporarily affect the supply picture. He said on-chain demand remains the defining factor over time.
The Crypto Fear & Greed Index posted an Extreme Fear reading of 23 on May 30. The score signals that investors are taking a cautious stance toward the broader crypto market. US-based spot Bitcoin ETFs have posted a combined $2.90 billion in net outflows since May 15, according to Farside data. BTC has declined approximately 9.5% over the same period.
Klippsten spoke at BitcoinVegas 2026, where industry figures discussed the market outlook for the rest of the year.
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