thecryptobasic.com
Bitcoin could climb to $200,000 as regulatory pressure eases and BTC becomes more embedded in global financial markets, according to Binance founder Changpeng Zhao.
Zhao linked Bitcoin’s long-term prospects to developments in the political and regulatory landscape. He observed that the industry has benefited from a more accommodating policy stance since President Donald Trump’s re-election. Moreover, Zhao added that the easing of regulatory pressures has helped restore confidence across the broader crypto sector.
That renewed confidence has coincided with strength in U.S. equity markets. Historically, strong stock market performance has supported Bitcoin prices, creating a more constructive environment for risk assets overall.
CZ believes Bitcoin reaching $200,000 price “is the most obvious thing in the world” to him.
Key Data Points
- Speaking during a voice AMA on Binance Square on Wednesday, Zhao said a $200,000 Bitcoin price is “a matter of time.”
- His outlook mirrors that of Fundstrat’s Tom Lee, who set the same target during a CNBC interview.
- At press time, Bitcoin was trading at $96,279, up 1.37% over the past 24 hours and 7.25% over the past week.
Market Integration Challenges the Halving Model
As Bitcoin’s role in global markets expands, Zhao suggested that its historical price behavior may also change. For much of its history, Bitcoin followed a four-year halving cycle, with bull markets often emerging after each event.
However, Zhao argued that this pattern may become less relevant as Bitcoin becomes more closely tied to Wall Street and broader macroeconomic trends. In addition, increased institutional participation could cause Bitcoin to trade more like a global risk asset rather than a retail-driven, cyclical one.
This perspective reflects a broader shift in market thinking. Analysts such as QuintenFrancois have also questioned the relevance of the four-year cycle. He encouraged investors to move away from relying on it as a core framework.
Meanwhile, other commentators like Willy Woo believe the four-year cycle remains relevant.
Until orange climbs higher into 2026 and starts to weird non-cyclical stuff, this narrative on THE END OF 4 YEAR CYCLES is NOT supported by data.
Flows into the BTC network declining according to past cycles. pic.twitter.com/cpsm1e2Z4V
— Willy Woo (@woonomic) January 9, 2026
Tom Lee Reinforces the Bullish Case
Zhao’s remarks align with long-standing projections from Fundstrat’s Tom Lee. Lee publicly outlined a $200,000 Bitcoin target during a CNBC interview in October 2025, when Bitcoin was trading near $111,000.
At that time, Lee identified anticipated Federal Reserve rate cuts and improving liquidity conditions as primary drivers. He further noted that, when combined with rising institutional adoption, these factors could underpin substantially higher valuations over time. Lee has since revised his outlook to 2026.
Meanwhile, skepticism remains among some market veterans. Trader Peter Brandt publicly pushed back on Lee’s projection, saying he places little value on fixed price targets and warning against conviction-driven forecasts.
Taken together, these views illustrate a market in transition. Ultimately, Bitcoin’s future is increasingly shaped by macro forces and institutional capital, even as debate continues over how high prices can ultimately go.