Cathie Wood has adjusted her 2030 Bitcoin price target from $1.5 million to $1.2 million, citing the growing influence of stablecoins and increased institutional adoption. The shift highlights Bitcoin's evolving role from a speculative asset to a key component in decentralized finance. Stablecoins, particularly in emerging markets, are reshaping Bitcoin's utility, while institutional interest in Bitcoin ETFs continues to rise. Additionally, macroeconomic factors such as inflation, interest rates, and geopolitical tensions are impacting Bitcoin's price trajectory and its function as a hedge against traditional financial risks.