Bitcoin's bullish momentum towards surpassing $100,000 has strengthened recently, according to Bitwise CIO Matt Hougan. He attributes this to a combination of institutional adoption, favorable macroeconomic conditions, and on-chain metrics.

The growth of Bitcoin exchange-traded funds (ETFs) in the U.S. has been remarkable, with total net flows exceeding $20 billion and assets under management reaching $65 billion within a year. This rapid adoption indicates strong demand from both retail and institutional investors.

Additional factors contributing to Bitcoin's price surge include the upcoming U.S. presidential elections, with pro-Bitcoin candidate Donald Trump leading in on-chain betting polls. Furthermore, Bitcoin whale accumulation has reached unprecedented levels, with large holders controlling a significant portion of the total supply. Show Less