Key conclusions
- 21shares sees a potential path to $100,000 if Bitcoin clears $70,000.
- Following the Fed-led pullback, BTC continues to defend support around $65,000.
- Meanwhile, inflation concerns and rate expectations may shape market sentiment in the near term.
21Shares says BitcoinThe preferred case starts with a break of $70,000
Bitcoin According to Matt Men, Sr Crypto Research strategist Art crypto 21Shares Asset Manager. The forecast comes after the Federal Reserve announced tighter policy.
Market reaction to the Fed’s decision has pushed BTC was down about 2%, although Mena viewed the decline as a consolidation rather than a change in direction. He said the next big test is whether the buyers can recoup the $70,000.
Sr. 21Shares crypto A research strategist stated: “ Bitcoin itself, although consolidating in the near term, remains in a good structural position.” He added:
“Looking now at $70,000, BitcoinAt the next resistance level, if we can break through $70K with strength, we are ready to retest $75K and target $80K again as we did in May, allowing us to finish the third quarter at the desired $100K level.”
Forecasts keep price action in focus, not just the Fed’s decision. According to Meno, $70,000 is the threshold that separates a short-term consolidation from another attempt at previous highs.
Political pressure from the Fed keeps macro risk in focus
Federal Reserve System bids made steady under Kevin Warsh, a move Mena called entirely expected. A bigger signal came from updated forecasts, with the midpoint, or midpoint of policymakers’ rate forecasts, now pointing to a possible rate hike later this year.
Inflation The three-year high added additional pressure to the Fed’s stance after a surge in energy linked to the conflict in Iran. Another source of pressure on risk assets, Meno cited the Bank of Japan’s rate hike to 1%, the highest level since 1995.
Strategist said:
“Warsh is also an iconic figure for digital asset markets: the first Fed chair with personal ties to crypto industry (including early investments in several crypto projects) and a more constructive position to bitcoin than his predecessors, publicly stating that he is a supporter bitcoin.”
That leaves the next move tied to whether buyers can sustain momentum after the Fed-led pullback. For Mena, the background of the hawk has not changed BTCa wider setting.