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Bitcoin is stuck in a consolidation phase, trading between $70,000 and $100,000, but Dan Tapiero, CEO of 10T and 1RT, isn’t worried.

Speaking on TheStreet Roundtable with Scott Melker, Tapiero explained why Bitcoin’s price action is unfolding as expected.

“I always said, and I've said this on Twitter on X many times, we were always going to stop at $100,000,” Tapiero said. “There was no matter what news was going to come or happen. It's a big round number. It’s the big round number theory of markets.”

Despite what looks like a stalled rally, Tapiero believes the long-term bullish trend remains intact, noting that the crypto industry has never had a more favorable U.S. regulatory and legislative environment.

“We've never had the U.S., the largest government of the wealthiest country in the world, become full-on not just crypto supporters, but active in crypto,” he said. “From the treasury secretary to the vice president to all sorts of people in the cabinet, we have people who really believe in the future of cryptocurrency and blockchain.”

Bitcoin is back on the rise, surging 4.9% in the past 24 hours to trade at $84,658, according to Kraken’s price feeds.

While some traders are frustrated by Bitcoin’s inability to push past $100K, Tapiero says this phase of “chopping” between $70,000 and $100,000 is necessary before the next move up.

“I think we’re going to chop up back and forth between $70,000 and $100,000 to digest all this news, and at some point, we’re going to head back up,” he said. “I’ve had this $180,000 target in mind for a while.”

He expects Bitcoin to hit that target either by the end of 2025 or early next year, explaining that markets take time to absorb big shifts — like the U.S. government’s newfound support for digital assets.

While some investors are panicking over Bitcoin’s recent pullback, Tapiero sees this as just another phase in the bull cycle. “You’ve got 85% or 90% bulls up at $100,000, and now you’re down at, what is it, 15% bulls? People are despondent, they think the world is over, and yet it’s at $80,000, which is still up 2-3x from 18 months ago. It’s pretty incredible.”