Bitcoin’s (BTC) price continues to reflect a complex mix of macro trends and market-specific events heading into 2026. BTC is shaped by three long-term forces and seven short-term, according to Jim Ferraioli, director of crypto research and strategy at the Schwab Center for Financial Research. The long-term factors are global M2 money supply, bitcoin’s disinflationary supply growthn and adoption. Short-term drivers include market risk sentiment, interest rates, U.S. dollar strength, seasonality, central ...