#BTCBackto100K On Thursday, the price of Bitcoin surged to $102,819, reaching a peak not seen since February 3, and many analysts point to a rising wave of institutional participation as the driving force behind the growth.
Institutions are here in full force, or so it is said, as corporate players and exchange-traded funds (ETFs) are buying more BTC on the open market. With Bitcoin surpassing the $100,000 mark today, market observers and cryptocurrency industry experts have shared their thoughts on the latest surge.
"Beneath the surface, spot ETF flows remain steady, especially during U.S. trading hours," analysts at Bitfinex Bitcoin.com News said on Thursday. "Open interest is high but not overheated, and funding is neutral — this is real demand, not a price chase based on leverage. Exchange balances continue to decline, and accumulation on the network by long-term holders has resumed."
Some see this moment as a complete plot twist, and Mike Cahill, CEO of Douro Labs — a major participant in the Pyth Network — told Bitcoin.com News that this is exactly how it is.
"Bitcoin exceeding the $100K mark signals a complete narrative overhaul: this milestone cements BTC's role as a macro asset in institutional portfolios," explained Cahill. "We are witnessing coordinated flows from ETFs, sovereign funds, and asset managers increasingly viewing Bitcoin as a hedge against political uncertainty and a means for long-term growth. The price action currently unfolding is simply catching up to what smart money has been preparing for all year," added the CEO of Douro Labs.
Dag Kolkitt, original Fogo participant, believes that this rally has fundamental reasons due to strong underlying factors. "$100K is not so much hype as it is market structure," said Kolkitt. "We are finally seeing sustained, institutionally driven demand meeting mature infrastructure — liquid venues, transparent custody, and real settlement rails. The Bitcoin rally is fueled by fundamental factors rather than hype — and that makes this moment more resilient than previous cycles," added Kolkitt.