Duong Sees Bitcoin Crossing $100K Before Year-End Amid Shift in Capital Flows

Bitcoin's price has surged to $77,129.12, up 22.8% over the past week, and former Coinbase Head of Institutional Research David Duong now expects it to cross $100,000 by year-end.

Speaking on the Milk Road Show, Duong explained that his outlook had shifted due to a closer read of the macro environment, which he said was driven more by capital flows and conditions than any fixed event or calendar date.

Duong pointed out that there has been a structural shift in who is buying Bitcoin, from being predominantly retail-driven toward exchange-traded fund flows. He noted that these flows can outweigh traditional interest rate narratives for extended periods.

The Clarity Act, rescheduled for September 15, was also mentioned as a potential catalyst by Duong. He said the market prices roughly 20% odds of the bill passing, describing the setup as 'one-sided'. A surprise passage could act as a significant positive catalyst, while a failure to pass would likely have limited market impact.