Analysts say Bitcoin's return to $100,000 doesn't require a new narrative: the narrative will emerge as prices rise.

According to ME News, on May 2nd (UTC+8), Michael van de Poppe, founder of MN Trading Capital, believes that Bitcoin doesn't need a new narrative to drive its price back to $100,000, even though it hasn't reached that price in nearly five months. In a recent social media post, van de Poppe pointed out that price increases don't require a narrative to propel them; rather, the narrative will emerge as prices rise. Therefore, mathematics, statistics, and logic are sufficient to guide investment. Meanwhile, while the market generally believes that narrative is a significant factor driving prices, many investors are focusing on the Federal Reserve's interest rate decision, US regulatory developments, and the fund flows of spot Bitcoin ETFs. Some market participants mentioned the potential passage of the CLARITY bill. Veteran trader Peter Brandt stated that the bill is a positive step for the industry, but not a major driving force. White House crypto advisor Patrick Witt revealed that a major announcement regarding the Trump administration's Bitcoin reserves is expected within the next few weeks. (Source: ME)