Bitdeer Stock Declines On Price-Target Cut At Rosenblatt As Bitcoin Prices Fall: Retail's Bearish

Shares of Bitdeer Technologies Group (BTDR) fell by nearly 1% during Monday’s after-hours trade as analysts at Rosenblatt cut their price target for the stock due to falling Bitcoin (BTC) prices.

According to The Fly, Rosenblatt cut its price target for Bitdeer to $25 from $30 while maintaining a ‘Buy’ rating on the stock. This implies a 139% upside from Monday’s closing price.

The brokerage underscored that Bitcoin prices have fallen below its previous estimates, which could have an adverse impact on Bitdeer’s topline.

Bitcoin was trading slightly above $83,000 at the time of writing, having fallen almost 24% since its all-time high of $109,114.88 that it touched on Jan. 20, when Donald Trump was sworn in as the 47th president.

Rosenblatt underscores that the fall in Bitcoin has resulted in certain Bitdeer customers delaying their payments.

Bitdeer, on the other hand, has undertaken strategic initiatives across mining, infrastructure, and AI to aid its growth in 2025.

Despite this, retail sentiment on Stocktwits around Bitdeer remained in the ‘bearish’ (35/100) territory as investors exercised caution.

Data from Koyfin shows the average price target for Bitdeer is $22.30, implying a nearly 113% upside from Monday’s closing price. Of the 12 brokerage recommendations, there are four ‘Strong Buy’ and eight ‘Buy’ ratings.

Although analysts are bullish on Bitdeer, the stock itself has lost nearly 52% of its value year-to-date, which is almost five times as bad as Bitcoin’s performance in this period.

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