Gracy Chen, CEO of crypto exchange Bitget, is not buying Bitcoin at $79,000. She is holding a significant portion of her portfolio in stablecoins and has set $50,000 as her personal re-entry level — a drop of more than $25,000 from where Bitcoin trades now.
"I would say $50K is the number that I'm looking at for my personal Bitcoin buyback sort of price," Chen said on the Trade Secrets podcast. She has not put a firm date on when that level might materialize.
Chen is not claiming predictive certainty. She acknowledged Bitcoin could also finish the year $20,000 higher than current levels. "I'm just an exchange CEO," she said. "We are not good at analyzing Bitcoin price. We're just good at providing a trading platform for all the analysts and traders to trade."
That self-assessment reflects a deliberate positioning. Chen describes her edge as building the infrastructure where traders execute — not calling the market herself. It is a distinction worth parsing from someone who runs one of the larger global derivatives and spot exchanges, where billions in volume flow through daily.
She is not alone in her bearish lean. Transform Ventures founder Michael Terpin said at the start of August that Bitcoin still has "more pain to go." Terpin projects Bitcoin will fall 66 percent from its October 2025 all-time high of $126,100, putting his target in the $40,000 range. "I think that brings us down into the 40s, and I think that's about where we're gonna go," Terpin said. Veteran trader Peter Brandt also called for a Bitcoin price bottom on Oct. 4 before this week's rally.
Bitcoin is up more than 20 percent over the past week. The Crypto Fear and Greed Index sits at 73, in Greed territory. Chen's positioning — stablecoins heavy, Bitcoin light — runs directly against that sentiment reading.
On altcoins, Chen is equally skeptical. Most of her personal portfolio sits in either Bitcoin or stablecoins, not in the broader token market her own exchange lists. That is a pointed signal from someone with full visibility into trading flows across hundreds of assets.
Chen's path to the CEO chair at Bitget differs from the standard crypto-native route. She studied applied mathematics at the National University of Singapore, then earned an MBA from MIT Sloan School of Management. She started her career in media in 2014 as a host and producer at Phoenix TV, covering financial events and interviewing technology and business leaders.
From broadcasting, she moved into entrepreneurship. She founded Accumulous, a platform-as-a-service company serving businesses in China with labor subcontracting and income settlement tools. In 2017 she launched ReigVR. Her entry into crypto came through a meeting with Bitcoin investor Tim Draper and his team, which led to crypto marketing roles before she joined Bitget.
She became managing director of Bitget in 2022 and stepped up to CEO in 2024. At 36, she runs one of the exchanges competing directly with Binance, OKX and Bybit for derivatives market share globally.
The $50,000 target Chen is watching represents a retracement of more than 60 percent from Bitcoin's October 2025 all-time high of $126,100. It also sits below the January 2024 spot ETF approval level, which many analysts treat as a structural demand floor given the institutional flows that followed that approval. Chen's framework does not rely on those technicals — she is watching price levels, not ETF flow data, as her trigger.
What she is not doing is predicting a straight line down. Her stated range for year-end includes a scenario where Bitcoin trades $10,000 to $20,000 from current levels in either direction.
