Will BTC reach 100,000 USD?

The price of Bitcoin has performed strongly recently, repeatedly challenging the $70,000 mark, sparking heated discussions in the market about the possibility of breaking through $100,000 in the future. However, under the current complex macro environment, BTC still faces numerous challenges to reach the expected target of $100,000.

As the leader of the cryptocurrency market, what is the intrinsic value of BTC? Is it its status as the oldest digital currency? Is it the fixed total supply of 21 million coins? Or is it the technological advantages brought by decentralization? Perhaps more importantly, it represents a global consensus. However, compared to competitors like Ethereum, BTC does not have an advantage in ecological applications and user scale. So, what is the fundamental reason that BTC can maintain its leading position in the long term? This is worth our in-depth consideration.

Since the beginning of this year, BTC prices have performed well, and multiple positive news items have become the focus of market attention:

1. BTC halving
2. BTC and ETH spot ETFs approved
3. The crypto market is gradually being accepted by mainstream finance, and regulation is gradually improving.
4. The expectation of a rate cut by the Federal Reserve is heating up.
5. In the year of the US presidential election, some candidates support cryptocurrency.

However, there is still uncertainty as to whether these factors can truly drive BTC to break through the $100,000 barrier. The approval of ETFs may only trigger a transfer of funds within traditional financial markets and does not necessarily mean that a large influx of new funds will flow in. The regulatory and compliance processes for cryptocurrencies still require time. The Federal Reserve's monetary policy direction also has variables.

More importantly, the long-term trend of BTC prices may depend more on the global status of the US dollar. In recent years, dollar hegemony has been challenged, and some countries have begun to accept other currencies such as the RMB as settlement currencies for oil trade. Against this backdrop, the appeal of BTC as an alternative asset may increase.

On the other hand, factors such as the debt pressure faced by the United States and geopolitical risks may also constrain its support for the crypto market. Therefore, whether BTC can break through 100,000 USD in the short term largely depends on the policy orientation of the United States and the evolution of the global economic landscape.

Overall, BTC still faces many uncertainties in reaching the target of 100,000 USD. We need to closely monitor changes in the global macro situation, as well as the development trends within the cryptocurrency industry itself. For investors, maintaining rationality and controlling risks remain the most important principles at present.