TD Cowen has raised the price target for MicroStrategy Inc. (ticker: MSTR) shares to $680 from $590, citing the company's status as the largest corporate holder of Bitcoin with 601,550 BTC following a recent $472.5 million purchase. The bank projects Bitcoin could reach $155,000 by December 2025, with a base case forecast of $128,000 and a downside scenario of $55,000. Separately, Citi, a $2.5 trillion banking giant, has issued a bullish forecast for Bitcoin, predicting it could hit $199,000 by the end of 2025, driven by exchange-traded fund (ETF) inflows and increasing adoption. Citi's base case for Bitcoin is $135,000, with a bearish case at $64,000. As of late July 2025, Bitcoin has been trading around $118,000, showing resilience following the Federal Reserve's decision to hold interest rates steady. Market analysts note Bitcoin is approaching a key technical resistance level near $122,000, with a potential breakout above this level possibly triggering a rally toward $138,000. Despite some volatility and mixed signals from Fed officials, Bitcoin's momentum remains bullish, supported by steady ETF demand and positive market indicators.