Key Takeaways
- $1.4 billion in Bitcoin options expired on Friday, with some analysts warning the event could trigger short-term volatility.
- Wall Street’s bullish long-term forecasts remain intact.
- ChatGPT, Claude, and Grok all remain bullish on Bitcoin’s future.
Bitcoin’s price faced another warning on Friday as roughly $1.4 billion in options contracts expire, an event some analysts regularly warn could temporarily increase downward pressure.
However, the warning comes when sentiment around Bitcoin’s price remains extremely divided.
Despite the warnings, some of Wall Street’s most bullish Bitcoin forecasts remain unchanged, with Standard Chartered maintaining its $500,000 target and Fundstrat’s Tom Lee recently arguing that Bitcoin’s price could eventually reach $2 million.
To gauge optimism further, CCN called upon ChatGPT, Claude, and Grok to assess Bitcoin’s long-term outlook — and the results were extremely positive.
$1.4 Billion Bitcoin Options
Around 23,400 Bitcoin options contracts expired on Friday, July 10, representing roughly $1.4 billion in notional value.
Compared with the quarterly expenses that can exceed several billion dollars, Friday’s event is relatively modest.
However, some analysts say options expiries can still influence short-term price action as traders unwind positions.
Historically, Bitcoin options expiries have produced mixed results.
Sharp swings have occasionally followed large quarterly expiries as traders close positions or roll contracts forward, though many events have little impact.
Friday’s expiry also includes around 141,000 Ethereum options contracts worth approximately $237 million.
Wall Street’s Bullish Bitcoin Price Forecasts Remain Intact
Despite the warnings, some of the industry’s highest-profile Bitcoin forecasts remain unchanged.
Among the most widely cited is Standard Chartered’s long-term prediction that Bitcoin could reach $500,000 before US President Donald Trump leaves office.
Speaking shortly after Trump’s return to the White House in 2025, Geoffrey Kendrick, the bank’s Global Head of Digital Assets Research, argued that a friendlier regulatory environment would accelerate institutional adoption.
“That should add to that medium-term upside potential, which for me is Bitcoin up to $200,000 this year and $500,000 before Trump leaves office,” Kendrick told CNBC.
While Bitcoin ultimately fell short of the bank’s 2025 target, Standard Chartered has continued reaffirming its longer-term outlook throughout 2026.
Meanwhile, Fundstrat co-founder Tom Lee has outlined an even more ambitious scenario.
Speaking to CNBC, Lee said Bitcoin could eventually reach around $2 million if its network value grows to rival that of gold.
Lee acknowledged that cryptocurrencies have underperformed expectations in recent months but argued investors were becoming overly pessimistic.
“I think there are what I call ‘rage quitting’ people selling here as if something is wrong,” Lee said.
“If someone asked me, is the thesis for Bitcoin or Ethereum broken, it’s absolutely not.”
AI Models See Bitcoin Price ‘Mega Growth’ — But Not Without Risks
To explore whether AI shares much of Wall Street’s optimism, CCN asked ChatGPT, Claude, and Grok about Bitcoin’s long-term trajectory.
ChatGPT’s View
ChatGPT described Bitcoin’s long-term outlook as “structurally bullish,” arguing that institutional participation has fundamentally changed the market compared with previous cycles.
“If adoption from sovereign wealth funds, pension funds, and corporations continues expanding, price appreciation could become significantly larger over the next decade,” it wrote.
The OpenAI model said Bitcoin’s price could realistically reach $1 million if interest in the industry continued across all facets. It didn’t give a time frame, however.
But the model cautioned that higher volatility could still delay the next major rally, and warned against ignoring downside risks.
Claude’s View
Claude took an even more optimistic stance, describing Bitcoin’s long-term outlook as offering the potential for “mega growth.”
“Bitcoin reaching $500,000 is ambitious but increasingly plausible if institutional allocation continues rising globally,” Claude said.
“The combination of fixed supply, expanding ETF demand, and broader sovereign participation creates a fundamentally different environment from previous cycles.”
Claude added that a move toward $2 million would require Bitcoin to enter the mainstream even further than it already has.
“Like it or not, Bitcoin is an alternative investment for many,” it wrote.
The model said that Bitcoin “would have to be in the banks of most of the population” if it were to reach the highest heights of $2 million.
“Not impossible, but a long way off.”
Grok’s View
Grok also pointed to what it called the possibility of “mega gains” over the coming decade, while warning investors not to expect a straight-line rise.
“The long-term trend still points upward if adoption keeps snowballing,” Grok said.
“Half a million dollars is no longer science fiction if governments, corporations, and institutions keep accumulating Bitcoin.”
However, Grok added that short-term corrections of 30% or more should still be expected during future bull markets.
“Bitcoin has always rewarded patience more than perfect timing,” the model said.
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
