Tiger Research has set a Bitcoin price target of $185,500 for the first quarter of 2026, citing macroeconomic stability and regulatory clarity as key drivers. The report highlights a favorable environment for risk-on assets like Bitcoin, with global central banks stabilizing interest rates and inflation under control. The Federal Reserve's recent interest rate cuts and the potential passage of the CLARITY Act, which could attract major banks to the market, are seen as significant factors. Despite recent institutional outflows, with $4.57 billion leaving ETFs in late 2025, companies like MicroStrategy continue to accumulate Bitcoin. The report notes that on-chain indicators show a solid support level at $84,000 and resistance at $98,000, with market sentiment shifting to neutrality. Tiger Research maintains a bullish outlook, adjusting the macro factor to +25% and projecting a 100% upside potential from the current price of around $96,000.