Bitcoin Tests $70K; 21Shares Sees $100K by Q3

Bitcoin remained above a support zone near $65,000 after a roughly 2% decline following a Federal Reserve policy update, and crypto asset manager 21Shares outlined a near-term scenario in which a decisive move above $70,000 would set a path to $100,000 by the end of the third quarter. The firm’s forecast depends on price action that clears $70,000 resistance and maintains upward momentum.

In a note published June 17, Matt Mena, senior crypto research strategist at 21Shares, framed $70,000 as the next test for the market. Mena described the post-Fed drop as consolidation rather than a change in trend and wrote, “Bitcoin itself, while consolidating in the near term, remains structurally well-positioned.” He added a price-projection sequence in the same note: “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.”

The Federal Reserve left its policy rate unchanged and shifted its median projections, with the central-bank dot plot indicating a possible rate increase later in the year. Inflation has risen to a three-year high, driven in part by an energy-price spike tied to the Iran conflict, and 21Shares cited those inflation and rate expectations as factors that could influence near-term market moves.

The Bank of Japan raised its policy rate to 1%, the highest level since 1995. 21Shares noted that global central-bank decisions, combined with higher inflation readings, are keeping macroeconomic risk in focus for investors in risk assets including bitcoin.

21Shares set out specific technical levels to watch: reclaiming and holding $70,000 would, in the firm’s view, open retests of $75,000 and $80,000 that were visited in May and could precede a push toward $100,000 by the end of Q3. The firm said that if bitcoin fails to hold support, downside pressure tied to shifting rate expectations and inflation developments could return.

21Shares is a crypto asset manager that issues exchange-traded products and publishes market research on digital assets. The firm’s commentary referenced Federal Reserve Chair Kevin Warsh and noted his personal ties to the crypto industry and a publicly stated favorable posture toward bitcoin, which some market participants have cited when framing potential outcomes for the market.