Jeremy Grantham says Bitcoin will fade to zero, BTC tests $60,000

Bitcoin slipped to roughly $60,000 on Friday, a price that sits just above a key support zone and follows a 30% pullback from its 200‑day moving‑average resistance, while legendary investor Jeremy Grantham reiterated his view that the digital asset will eventually lose all value【2】. The price action and Grantham’s comment have reignited debate over Bitcoin’s long‑term relevance and the short‑term risk of further downside.

Market context and recent moves

Bitcoin’s price has fallen more than 50% from its October 2025 peak of about $126,000, leaving the asset in a drawdown that ranks among its five worst historical declines【2】. The recent slide to $62,000 was sparked by hawkish Federal Reserve signals that heightened risk‑off sentiment, compounded by rising geopolitical tension and inflation concerns【2】. Spot Bitcoin ETFs recorded four straight days of net outflows totaling roughly $113.8 million, adding pressure to the market【2】.

Grantham’s long‑term view vs. short‑term reality

Grantham, co‑founder of GMO and a noted bubble‑spotter, told CNBC that Bitcoin will “dwindle away… not with a bang, but a whimper,” and that it will ultimately fall to zero because it offers no cash flow or intrinsic earnings【2】. He highlighted Bitcoin’s volatility, noting a recent halving event that occurred “for no particular reason in a strong economy”【2】. While his forecast targets a multi‑decade horizon, the immediate implication for investors is the lack of a concrete exit strategy—no defined price target, timeframe, or position size—making the prediction difficult to translate into actionable trading decisions.

On‑chain and institutional dynamics

Despite the price drop, some institutional players view the dip as an entry point. Coinbase reported that major institutions have begun buying the dip, suggesting continued demand from large‑scale investors【2】. However, the overall market sentiment remains cautious, as the asset tests the $60,000 support zone; a break below could open a path toward the $40,000 region that analysts consider a critical downside threshold【2】.

What to watch

• Support break: A sustained move below $60,000 could trigger a slide toward $40,000.
• ETF flows: Continued net outflows from spot Bitcoin ETFs would add pressure; a reversal to net inflows may signal renewed buying interest.
• Regulatory cues: Any upcoming Fed policy statements or geopolitical developments that affect risk appetite could further influence Bitcoin’s price trajectory.

Grantham’s assertion that Bitcoin will eventually “fade away” underscores the difficulty of valuing an asset without cash flows, but the current price action shows that short‑term risk remains high. Whether Bitcoin can hold the $60,000 support or slips deeper will determine how relevant Grantham’s long‑term warning becomes for today’s investors.