21Shares: Bitcoin Still Has More Room for Growth This Year

According to a report by Jinse Finance, despite Bitcoin's price hovering slightly below its all-time high in January this year, digital asset ETF issuer 21Shares believes there is still significant upside potential for Bitcoin this year. 21Shares research strategist Matt Mena wrote in a report released on Monday, "Bitcoin is on the verge of a breakout." He believes that the current Bitcoin rally is not driven by retail frenzy but by multiple structural forces, including institutional inflows, historical supply constraints, and an improved macroeconomic environment, which suggest that Bitcoin is on a more sustainable and mature path to reach new all-time highs. The number of Bitcoins continuously absorbed by spot Bitcoin ETFs exceeds daily mining output, further tightening supply. Meanwhile, major institutions like Strategy and newcomers such as Twenty One Capital are also accumulating Bitcoin, and even some countries are exploring the establishment of strategic reserves. Mena predicts that the combined effect of these factors could push Bitcoin to $138,500 this year.