Recently, Bitcoin has been repeatedly testing the $90,000 level, and the market does feel a bit dull. Spot ETF outflows continue to exceed $500 million, which at first glance seems like a risk signal, but the institutional logic is quite interesting — they are characterizing this phase as a bottoming process rather than a flight. Leading institutions like BlackRock are emphasizing significant improvements in retail investor access channels, implying that they are paving the way for long-term growth.

According to institutional forecasts, there are many voices predicting Bitcoin will surge to $102,000 to $150,000 by 2026. This target sounds aggressive, but within the context of institutional-level allocations and policy expectations, it doesn’t seem entirely out of reach.

What’s interesting now is the clear divergence among mainstream coins. Zcash rebounded 10-20% directly after the development team launched a new wallet product. Ecosystem tokens like Polygon, Solana, and Render continue to perform strongly. Meanwhile, Ripple has also received regulatory approval in the UK, and XRP remains steady around $2.1.

Small moves at the institutional level are also quite frequent. BNY Mellon is pushing tokenized deposit products, Nasdaq and CME are jointly launching crypto indices, Morgan Stanley is planning digital wallets… All these point in one direction: traditional finance is systematically deploying in crypto assets. Florida is also re-discussing Bitcoin strategic reserves, and the policy story continues to unfold.

From a macro perspective, the Federal Reserve’s path of interest rate cuts by 2026 and Trump’s tariff policies are both influencing market pricing. Overall sentiment has shifted from previous panic to a cautious optimism, and the narrative is increasingly in the hands of institutions.