Bitcoin Battle Heats Up! 21Shares Predicts a Surge to $138,500
TradingKey – Bitcoin’s fierce bull vs. bear showdown intensifies around $106,000, as 21Shares analysts forecast a new all-time high.
On Tuesday, May 20, Bitcoin (BTC) demonstrated strong momentum, rebounding above $106,000 and fully recovering yesterday’s losses, signaling an intense battle between bulls and bears.
Bitcoin Price Chart – Source: TradingView.
Yesterday, BTC saw a 4% intraday fluctuation, briefly dropping to $102,000 before bouncing back. Now, Bitcoin is approaching its January 20, 2025 high of $110,000, a crucial resistance level.
Matt Mena, a research strategist at 21Shares, stated: "Bitcoin is on the verge of a major breakout."
Mena further predicted Bitcoin could climb to $138,500, citing key drivers:
- Institutional capital inflows
- Historic supply crunch
- Improving macroeconomic conditions
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