Bitcoin Could Hit $100K by Q3 if $70K Breaks, Says 21Shares Strategist

Bitcoin could climb to $100,000 by the end of Q3 if it clears $70,000 resistance, according to Matt Mena, Senior Crypto Research Strategist at crypto asset manager 21Shares. The forecast follows the Federal Reserve's decision to hold rates steady under Kevin Warsh, with the median dot projecting a possible rate hike later this year. Market reaction to the Fed decision pushed BTC down roughly 2%, though Bitcoin continues defending support around $65,000 amid inflation running at a three-year high and heightened macro policy pressure.

21Shares Projects Bitcoin Path to $100K Contingent on $70K Break

Matt Mena stated that Bitcoin remains structurally well-positioned despite near-term consolidation. He identified $70,000 as the next major resistance level and outlined a conditional price path: "With eyes now on $70k, Bitcoin's next resistance level, if we are able to break through $70k with strength, we are primed to retest $75k and target $80k again as we did in May -- setting us up to end Q3 at the coveted $100k level."

Mena viewed the roughly 2% decline following the Fed decision as consolidation rather than a directional shift. He said the next major test is whether buyers can reclaim $70,000. The projection positions $70,000 as the threshold separating near-term consolidation from another attempt at prior highs.

Federal Reserve Holds Rates as Median Dot Projects Possible Hike

The Federal Reserve held rates steady under Kevin Warsh, a move Mena described as fully expected. The median dot, or midpoint of policymakers' rate forecasts, now points to a possible rate hike later this year. Inflation running at a three-year high added pressure on the Fed's stance after an energy spike tied to the Iran conflict.

Mena also cited the Bank of Japan's rate increase to 1%, its highest level since 1995, as another source of pressure on risk assets. He noted Kevin Warsh's distinctive position as "the first Fed Chair with personal ties to the crypto industry (including an early investment in multiple crypto projects) and a more constructive posture toward bitcoin than his predecessors, publicly stating he is a fan of bitcoin."

FAQ

What price level must Bitcoin break to reach $100,000 by Q3 according to 21Shares? Matt Mena of 21Shares stated Bitcoin must break through $70,000 with strength to be positioned for a path toward $100,000 by the end of Q3, with intermediate targets at $75,000 and $80,000.

What did the Federal Reserve decide regarding interest rates? The Federal Reserve held rates steady under Kevin Warsh. The median dot of policymakers' rate forecasts now projects a possible rate hike later this year, with inflation running at a three-year high.