TD Cowen Lowers Bitcoin Year-End Target to $97,500 and MicroStrategy to $260

TD Cowen analyst Lance Vitanza has adjusted the year-end 2026 price target for Bitcoin to $97,500, down from a previous baseline of $140,000, citing recent price weakness rather than structural market deterioration. The firm also lowered its price target for MicroStrategy (MSTR) from $400 to $260 while maintaining a 'Buy' rating. Additionally, TD Cowen initiated coverage on Strive, projecting the company will hold over 27,100 BTC by the end of 2026 and setting a price target of $32.