After Bitcoin (BTC) returns to $100,000, whether it can continue to rise needs to be assessed comprehensively from both technical and fundamental perspectives. Supporting factors include: 1) Accelerated institutional capital inflow (ETF capital inflow and compliance channels opening); 2) Strengthened bullish logic due to circulation tightening expectations after the halving cycle; 3) Technical indicators show a bullish arrangement at the daily level, and if it stabilizes at $100,000, it may explore the $110,000-$125,000 range. Risk factors involve: 1) The key resistance level at $116,000 may trigger a pullback to $95,000; 2) The high interest rate environment from the Federal Reserve suppresses leveraged funds; 3) Tightening regulatory policies or miner selling pressure could undermine the trend. In the short term, it may maintain a range-bound upward movement, but caution is needed regarding high volatility risks at elevated levels.