Report: Bitcoin May Rise to $170,000 by 2026, Driven by US Policy Reforms and Institutional Demand

The latest annual report from Korea’s Korbit Research Center predicts that Bitcoin will reach the $140,000 to $170,000 range in 2026, highlighting that the core drivers of price increases are US fiscal reforms, structural institutional demand, and a strong US dollar environment, rather than the traditional four-year halving cycle. The research team proposes a new macro-driven theory, emphasizing that US productivity improvements and expanded capital expenditures have significantly strengthened Bitcoin’s influence.

The report identifies “a stronger US dollar, a possible gold pullback, and increased institutional allocation to Bitcoin” as the three key driving factors. ETFs and Digital Asset Treasuries (DAT) are rapidly absorbing market liquidity, and as of November 2025, the two together hold 11.7% of the total Bitcoin supply. The “One Big Bill” (OB3), expected to take effect in July 2025, will reinstate 100% bonus depreciation and immediate R&D expensing, potentially lowering the effective corporate tax rate to 10%-12%. Korbit believes this will attract overseas capital to the US and sustain a strong US dollar in the long term.