Big bitcoin bull cries uncle
Wall Street Breakfast
Seeking Alpha
3.8 • 950 Ratings
🗓️ 10 December 2025
⏱️ 5 minutes
🧾️ Download transcript
Summary
Show Notes
Elon Musk wouldn’t do DOGE again
JPMorgan bank head sees ‘fragile’ economy
Episode transcripts: seekingalpha.com/wsb
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. |
| 0:10.3 | Good morning. Today is Wednesday, December 10th, and I'm your host Kim Kahn, filling in for Julie Morgan. |
| 0:15.9 | Bitcoin has wiped out its 2025 gains, and one of Wall Street's biggest bulls is cutting forecasts across the board. |
| 0:22.3 | Standard Charters Jeff Kendrick now sees Bitcoin at $100,000 at the end of this year, down from $200,000, $150,000 at the end of |
| 0:30.7 | 26, down from $300,000, and $225,000 in 2027, down from $400,000. The bank also pushed out its long-term target of $500,000 to $20,000 in 2027, down from 400,000. |
| 0:38.2 | The bank also pushed out its long-term target of 500,000 to 2030, |
| 0:42.3 | two years later than previously expected. |
| 0:44.8 | Recent price action has been challenging to say the least, said Kendrick, |
| 0:48.4 | who heads digital assets research for the bank. |
| 0:51.0 | Kendrick said Bitcoin's run since 2024 was powered by ETF inflows and digital asset |
| 0:56.1 | treasury companies buying aggressively, but many of those Dats now trade below the value of the |
| 1:01.0 | crypto they hold, making further accumulation harder to justify. He expects consolidation rather |
| 1:06.2 | than capitulation, but also says debt buying is largely done. On the other side of the ledger, Bernstein said |
| 1:11.9 | Bitcoin is now in an elongated bull cycle, with stickier institutional demand helping to absorb |
| 1:17.3 | retail selling pressure. Despite a 30% correction, ETFs have seen outflows of less than 5%. |
| 1:23.3 | Bernstein now targets 150,000 for 2026, with a potential cycle peak of 200,000 in 2027. |
| 1:30.3 | Its long-term 2033 target of roughly $1 million remains intact. |
| 1:35.3 | How about LoJack for your GPU? |
| 1:38.3 | Nvidia has developed a location verification feature that can indicate which country its chips are operating in, a move designed to stop high-end AI GPUs from being smuggled into restricted markets. |
| 1:49.0 | Reuters reports that NVIDIA has privately demoed the technology, though it hasn't been released yet. |
| 1:54.0 | The tool would be an optional software agent customers can install, |
| 1:57.0 | tapping into the confidential computing capabilities already built into |
... |
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