A recent heavyweight research report has sparked quite a bit of discussion in the market. Some immediately said, "Wall Street is turning bullish across the board," but the truth might not be that simple.

**Let's first lay out a few key figures:**

The baseline scenario predicts Bitcoin reaching $143,000, representing approximately a 62% increase from the current $88,000 level. The pessimistic outlook (global recession) is set at $78,500, while the optimistic scenario (demand surge) is $189,000. A key support level is also identified at $70,000.

**But this isn't just a simple "bullish report."**

Carefully examining the logical chain of the report reveals only one core word behind it—ETF. It's not market sentiment or retail enthusiasm, but the rebound in ETF demand.

This distinction is actually very important. What does ETF represent? Compliant capital, long-term allocation, relatively stable buying. This is completely different from retail speculation mentality. When these institutions define the key driver of Bitcoin's price as "ETF demand resurgence," what does it indicate? It suggests that Bitcoin has evolved from a high-risk speculative asset to a configurable asset class.

**In terms of price, this shift is a hundred times more significant than specific percentage gains.**

Looking at the $70,000 support level again—this isn't a random guess. What does this level mean? If the price falls here, it indicates that ETF demand has been seriously hindered, and market confidence has experienced a substantial breach. Conversely, as long as it stays above $70,000, the bottom support remains intact.

In other words, the report actually provides investors with a clear risk framework—there's a bottom line downward, room upward, and baseline expectations in between. This is the true value of a professional institutional report.