Bitcoin is slowly regaining upward momentum as investors turn their attention once again to the $100,000 mark. After retreating from its late 2025 high of $126,000, Bitcoin is currently trading near $81,000, supported by improved market sentiment, growing enthusiasm for the U.S. CLARITY Act, and strong institutional demand.
In April 2026 alone, spot Bitcoin ETFs recorded net inflows of $2.44 billion, the highest since the 2025 peak. On May 6, spot Bitcoin ETFs saw net inflows of $46.33 million, marking the fifth consecutive trading day of net inflows.
VanEck’s Matthew Sigel predicts that Bitcoin will reach $1 million.
VanEck’s Head of Digital Assets Research, Matthew Sigel, has made one of the boldest predictions to date, stating that Bitcoin reaching $1 million is now the company’s “base case.”
Bitcoin's rise is our baseline expectation. We believe the price of this asset will reach one million dollars within the next few years,” Siegel said at a conference. CNBC interview.
To illustrate his point, Siegel compares Bitcoin to the video game industry. He notes that games were once seen as exclusively for children, but have now become a mainstream form of entertainment for people of all ages—even mentioning that Elon Musk plays video games. Siegel believes Bitcoin is following a similar path toward mainstream adoption.
He said, "People won't give up on Bitcoin," noting growing interest among younger investors and central banks around the world beginning to hold Bitcoin reserves. He described Bitcoin as a long-term "super trend," but warned that the asset will remain highly volatile along the way.
Sigel believes that if the adoption rate of Bitcoin continues to accelerate, its price could reach $1 million within five years.
On-chain analysis points to the next transaction at $93,000
According to researchers at CryptoQuant, Bitcoin’s next major price target could be $93,000 due to a key gap on the Chicago Mercantile Exchange (CME). Recently, as the total cryptocurrency market cap surged to $2.73 trillion, Bitcoin’s price approached $83,000. Additionally, a 12% drop in oil prices and growing optimism surrounding a potential peace agreement between the U.S. and Iran have provided further momentum to the crypto rally.