Bitcoin could reach new price highs in 2026 if three conditions align, according to Matt Hougan, CIO of Bitwise. The first condition, avoiding another flash crash like the one on October 10, has already been met. This crash had previously wiped out $1.4 trillion from crypto markets, but Hougan believes the market has now stabilized. The second condition is the passage of the Clarity Act, which is set for a Senate Banking Committee vote. This legislation would clarify regulatory authority over crypto markets, assigning roles to the SEC and CFTC, and includes provisions affecting stablecoin issuers and non-custodial software creators. Hougan views this as a "yellow light" due to its potential impact on market dynamics. Lastly, a stable performance from the broader stock market is necessary, as Bitcoin's price often correlates with risk assets. Hougan notes that a positive market trend is crucial for Bitcoin to achieve new highs, though he cautions about potential selling pressure from large holders at the $100,000 level.