Bitcoin Battle Heats Up! 21Shares Predicts a Surge to $138,500

TradingKey

20 May

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

Find out more

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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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  Find out more","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}