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

Source Tradingkey

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

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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