Bitcoin’s path toward $150,000 in 2026 and the role of institutional adoption and whale activities

Bitcoin rose to $150,000 by 2026, mainly due to the adoption of institutional investors. By the second quarter of 2025, 59% of institutional portfolios will be allocated at least 10% in Bitcoin. The U.S. spot Bitcoin ETF, led by BlackRock IBIT (which had an asset management scale of $65 billion as of April 2025), reduced volatility by 75% and enhanced its correlation with the S&P 500. Regulatory clarity in the U.S. Securities and Exchange Commission and the EU MiCAR framework accelerated Bitcoin adoption, while whales’ activities, including overweight and profit-taking, exacerbated cyclical volatility. Long-term holders increased their holdings of bitcoin by 1 million, reducing supply, despite the risk of liquidation of early whales. Strategic allocation through diversified allocation of ETFs, derivatives and altcoins is the key to the 2026 bull market cycle.