Bitcoin climbed this week to around $97,538, its highest level in two months, despite remaining about 24% below its October peak.
Market analysts said the coming months are critical as Bitcoin appears positioned for a decisive price move.
Research firm Kaiko described Bitcoin as “coiled for a decisive move” following recent market consolidation.
Analysts said future gains may depend less on US lawmakers and more on broader macroeconomic forces.
Bitcoin has historically performed well in low interest rate environments, making Federal Reserve policy a major focus.
“The catalysts for a new Bitcoin high will be around the loss of Fed independence,”
Greg Magadini said.
“Without an independent will to fight inflation, the Fed is likely to react too dovishly, which would undermine the US dollar and push assets such as BTC higher,”
Magadini said.
Observers noted Bitcoin’s correlation with technology stocks has increased, heightening its sensitivity to central bank decisions.
Experts also pointed to renewed institutional interest as a potential driver for further price appreciation.
Spot Bitcoin exchange-traded funds attracted billions in inflows after their approval, expanding access for large investors.
“Ongoing institutional adoption could ultimately provide that upside catalyst for Bitcoin in 2026,”
André Dragosch said.
Data shows Bitcoin ETFs recorded roughly $1.6 billion in inflows this week alone, according to market analysts.
Large Bitcoin holders, known as whales, have reduced selling pressure after heavy profit-taking last year.
“We can observe that long-term selling has decreased sharply,”
Darkfost said.
“The situation has started to evolve, and it is precisely this shift that could pave the way for a more sustainable rally,”
Darkfost said.
At the time of reporting, Bitcoin price was $95,561.25.