Duong Sees Bitcoin Price Topping $100K by Year-End Amid ETF Flows

Bitcoin's price has surged to $77,129.12, up 22.8% over the past week, according to data. David Duong, former Coinbase institutional head, now forecasts BTC to cross $100,000 before year-end.

Duong made his prediction on the Milk Road Show, stating that his outlook had shifted higher in recent weeks. He initially expected Bitcoin to consolidate around the $85,000 to $90,000 range but believes a closer read of the macro environment warrants a six-figure target.

The key driver behind Duong's optimism is the shift from retail-driven investment towards exchange-traded fund flows. He notes that lower costs and reduced custody concerns following a self-custody security incident have led to this change.