The viewpoint is that the macro environment and institutional adoption will drive Bitcoin to $102,000

CF Benchmarks Research Director Gabe Selby stated that, influenced by institutional buying and a favorable macroeconomic environment, the price of Bitcoin is expected to rise 15% from the current $90,000 to $102,000. The decline in labor costs indicates a cooling of inflation, which will prompt the Federal Reserve to further cut interest rates in 2026, creating a favorable environment for risk assets. Currently, Bitcoin is down nearly 30% from its historical high of $126,000 set in 2025.

Data from DefiLlama shows that investors withdrew over $400 million from Bitcoin spot ETFs on Thursday. Gabe Selby pointed out that institutions will become the main driving force in the market in 2026. Currently, 14 spot ETFs in the U.S. have accumulated over $100 billion in assets, with BlackRock's iShares Bitcoin Trust leading with $67 billion in managed assets. In the subsequent phase, institutions will integrate digital assets into discretionary strategies and model authorizations. Additionally, SEC filings indicate that Morgan Stanley is preparing to launch new ETFs backed by cryptocurrencies such as Bitcoin.