TD Cowen Upholds $440 Bitcoin Trust Price Target as Dow Hits 50,000
TD Cowen reiterated a sell rating on the Bitcoin trust with a $440 price target, citing a lack of catalysts for upside. Global markets hit Dow 50,000 while investors await US inflation figures and a delayed January jobs report that could sway Bitcoin demand.
1. TD Cowen Rating on Bitcoin Trust
TD Cowen maintained a sell rating on the Bitcoin trust, setting a $440 per share price target. The firm emphasized extreme price volatility and an absence of new adoption drivers as barriers to significant upside.
2. Market Backdrop and Data Ahead
The Dow Jones Industrial Average reached 50,000, reflecting broad equity strength. Investors are focused on upcoming US consumer price index data and a delayed January jobs report for insights into monetary policy and demand for digital assets.
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