$ETH Marc Boiron, CEO of Polygon Labs, predicts that Bitcoin could hit $250,000 this year, though he stresses that this is not financial advice. Speaking on the Roundtable podcast, Boiron highlighted Bitcoin’s long-term growth potential, citing its fixed supply and growing demand as the main drivers. “It’s literally that simple,” he explained. Despite Bitcoin’s usual volatility, Boiron believes that current market and regulatory conditions reduce downside risks.

However, on February 21, the cryptocurrency market saw a sharp decline following reports of a $1.5 billion outflow from Bybit, potentially linked to a security incident. Bitcoin has fallen to nearly $97,000 from its previous peak of $100,000, while Ether has dropped 4% to below $2,700. The drop has led to $500 million in liquidations, mostly from long positions that anticipated a price increase, according to CoinGlass. Despite the setback, Boiron remains confident in Bitcoin’s upward trajectory, driven by growing demand and capped supply.