Can Bitcoin retake $100,000? Behind this question, there are actually a series of supporting factors at play.

From a policy perspective, the progress of structural crypto legislation and innovation exemption bills is ongoing, coupled with the adjustment of the Federal Reserve Chair candidate, the market sentiment has clearly shifted to a positive outlook. Meanwhile, the Fed's quantitative tightening is nearing its end, with expectations of rate cuts in 2026 gradually forming, and global M2 money supply beginning to bottom out and rebound—this means liquidity dividends are expected to be unleashed again.

At the institutional level, continuous inflows into Bitcoin ETFs, the implementation of bank custody services, and pension funds starting to allocate are all signs of growing institutional demand. The supply side is also tight: long-term on-chain holders are steadily accumulating, exchange reserves are at historic lows, large whales are increasing their holdings, and the overall supply is in a serious tightening state.

On the technical side, there are bright spots. The benefits of the halving cycle are beginning to be fully realized, inflation rates are performing lower than gold, and the non-security attributes are gradually becoming clearer, providing dual support for Bitcoin's scarcity and compliance. In the short term, the easing of large options pressure, de-escalation of geopolitical risks, and reallocation by institutions in January act as catalysts, resonating together.

From these dimensions, there is still confidence in the potential for Bitcoin to break through the $100,000 threshold.