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21Shares: Bitcoin Still Poised for Significant Year-End Rally, Currently at Breakout Point

2025.05.20 09:16:17

On May 20th, as per CoinDesk, although Bitcoin's price is hovering slightly below this year's January high, the digital asset ETF issuer 21Shares holds the view that Bitcoin still has more room for growth this year. 21Shares' research strategist Matt Mena wrote in a report released on Monday: "Bitcoin is on the verge of a breakthrough." He believes that the current Bitcoin rally is not fueled by retail mania but by multiple structural forces working in unison, such as institutional inflows, historical supply tightening, and an improving macroeconomic environment. These factors indicate that Bitcoin will follow a more sustainable and more mature path towards a new all-time high. The amount of Bitcoin continuously being absorbed by spot Bitcoin ETFs surpasses the daily mining output, further tightening the supply. Meanwhile, major institutions, companies like Strategy, and new entrants like Twenty One Capital are also accumulating Bitcoin, and even some countries are starting to explore the establishment of strategic reserves. Mena forecasts that the combined impact of these factors could drive Bitcoin to $138,500 this year.
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