Gabe Selby, Head of Research at CF Benchmarks, stated that Bitcoin's price is expected to rise 15% from its current $90,000 to $102,000, driven by institutional buying and a favorable macroeconomic outlook for 2026. Declining labor costs, indicating cooling inflation, will prompt the Federal Reserve to further cut interest rates in 2026, a "Goldilocks" environment favorable for risk assets. Currently, Bitcoin is down nearly 30% from its all-time high of $126,000 reached in October 2025. DefiLlama data shows that investors withdrew over $400 million from Bitcoin spot ETFs on Thursday. Selby points out that institutions will be the main driver of the market in 2026, with 14 US spot ETFs currently holding over $100 billion in assets, led by BlackRock's iShares Bitcoin Trust with $67 billion in assets under management. In the subsequent phase, institutions will integrate digital assets into discretionary strategies and model licensing. In addition, SEC filings show that Morgan Stanley is preparing to launch a new ETF backed by cryptocurrencies such as Bitcoin.