The Bitcoin rally shows strong momentum, with the cryptocurrency poised to break past the $100,000 barrier in the near future, according to a Galaxy Research report published Tuesday.

Key drivers fueling this bullish outlook include surging institutional participation, corporate integration of Bitcoin, and the possibility of nation-states adding BTC to their reserves. Additionally, a pro-crypto stance from the incoming U.S. administration is expected to support market growth.

However, Galaxy Research noted some potential turbulence ahead. “Outgoing regulatory actions or enforcement measures from the current administration could create temporary market unease,” said Alex Thorn, head of research.

Despite these risks, the long-term forecast remains highly optimistic. “Bitcoin’s trajectory over the next two years is uniquely positioned for significant growth,” Thorn stated.

The report also highlighted the impact of Bitcoin ETF options, predicting they will deepen market liquidity, reduce volatility, and draw new retail and institutional investors into the fold.

At the time of writing, Bitcoin was trading near $94,600, a 2.8% daily increase, while the CoinDesk 20 Index reflected a broader market gain of over 3%.