(Kitco News) – Following a strong rally which began on Tuesday afternoon, Bitcoin is once again trading above $100,000 per token, and experts say the stars are aligning for King Crypto once again.
“Bitcoin’s move back above $100K is a clean breakout driven by strong fundamentals and improved macro optics,” analysts at Bitfinex told Kitco News. “The Fed showed it’s ready to cut if needed—without the urgency of inflation risk, thanks to easing tariff tensions. This creates a ‘policy optionality’ regime: a neutral Fed with bullish macro implications.
The analysts pointed out that flows into spot Bitcoin ETFs also remain firm, particularly during U.S. trading hours. “Open interest is high but not frothy, and funding is neutral—this is real demand, not leverage-driven price chasing,” they said. “Exchange balances continue to decline, and on-chain accumulation by long-term holders has resumed.”
“This is not a melt-up—it’s a structurally supported move,” the analysts added. “As long as ETF + institutional flows persist and macro stays stable, dips are likely to be brief and bought aggressively. The path of least resistance remains higher."
Thomas Perfumo, global economist at Kraken, told Kitco News that Wall Street’s growing risk appetite just spilled into crypto, and Bitcoin was the first to benefit.
“Bitcoin’s break back above the six-figure threshold comes amid a broader risk-on revival in global markets,” he said. “Equities are again performing well, and investors appear more comfortable allocating to risk assets. These renewed animal spirits are spilling straight into crypto: spot BTC ETFs just notched cumulative year-to-date net inflows of roughly $5.6 billion, fully clawing back the wash-out that took cumulative year-to-date net flows closer to zero last month.”
“The demand picture is further supported by the largest corporate accumulator of Bitcoin, MicroStrategy, announcing a new $21B common equity at-the-market offering, giving the company further runway to issue common shares and accumulate bitcoins,” Perfumo added. “Put together, the tailwind from recovering equities markets, heavyweight flows via the ETFs, and an ever-present corporate accumulator form a constructive backdrop for Bitcoin's grind higher.”
Bitcoin is holding comfortably above 100k on Friday morning after hitting a session high of $104,220 shortly before 4:00 a.m. EDT, and last traded at $103,036.18 for a loss of 0.21% on the session.
