10x’s Thielen Sees Bitcoin at $90K by Year-End

Thielen's call is notable less for the target than for its rationale: that Wall Street's growing presence has muted Bitcoin's boom-bust volatility, a structural claim that cuts against the asset's speculative reputation. His skepticism on ETF demand is the sharper edge, since it questions the core bull case built around institutional inflows. Whether ETF flows actually validate or undercut that view is the open question, and Ethereum's ability to justify holder value is a parallel test of the same institutional thesis.