Are institutions really driving up Bitcoin? Analysts' opinions clash—one bullish, one warning.

【CoinPush】Regarding whether Bitcoin can surge from $90,000 to $150,000, analysts in the industry have differing opinions.

Macro researcher Luke Gromen recently poured cold water on the idea. His view is straightforward: without significant market catalysts, institutional investors are unlikely to chase prices proactively this year. Institutions tend to be very cautious; they won’t enter blindly when event-driven signals are unclear. According to his analysis, the key variables that could move this market include the progress of the US CLARITY Act and whether the Federal Reserve continues to cut interest rates.

But Luke also warns of risks. In extreme scenarios, such as a full-scale trade war or economic recession, Bitcoin could retrace to $60,000, at which point publicly listed companies holding BTC might be forced to reduce their holdings.

Switching gears, CryptoQuant CEO Ki Young Ju provided a completely different signal. He cited data indicating that institutional demand is actually quite active—over the past year, institutions have accumulated a total of 577,000 BTC, roughly worth $53 billion. The implication behind this figure is that large funds have not exited but are continuing to build positions. Grayscale also previously expressed similar views, believing that institutional entry and clearer regulatory policies are the true drivers behind Bitcoin’s new highs.

So the current situation is somewhat delicate: on one side, concerns about a lack of short-term catalysts; on the other, the fact that institutions are continuously accumulating. Which logic will prove more convincing? The market will provide the answer.