Bitcoin is barreling toward $100K within the approaching weeks as explosive momentum, soaring liquidity, and a decisive breakout converge to supercharge the bullish Q2 setup.
Bitcoin Eyes $100K in Weeks—Strategist Maps Bullish BTC Setup Via Q2
Matt Mena, crypto research strategist at asset management company 21Shares, commented Friday on the surprising strength of April’s U.S. jobs list, which helped push probability sources better and increase total market sentiment. The list published that the economy added 177,000 jobs, extending a inch of beneficial properties to 52 straight months, with unemployment right at 4.2%. Mena acknowledged: “Whereas growth in hiring slowed modestly, the records used to be stronger than anticipated—serving to ease end to-term recession considerations and fueling a rebound in market sentiment.” He illustrious that the S&P 500 rebounded past 5,600 following the liberate and is now trending toward 5,700.
Turning to digital sources, Mena acknowledged the renewed appetite for probability is benefiting bitcoin, which broke by a well-known resistance stage. He defined:
This renewed probability-on mood is surroundings the stage for bitcoin to create a fling at $100K. The $95K stage had been a key resistance zone in latest weeks, and once BTC cleared it with right quantity, momentum accelerated like a flash.
Mena added that bitcoin is acting primarily based totally on broader macro tendencies: “With equities pushing better and liquidity expectations rising, bitcoin is behaving like a high-beta macro asset—carefully tied to investor appetite for probability and reflation trades.”
In step with the 21Shares research strategist, market expectations for monetary policy possess shifted tremendously in latest weeks: “Markets are in actuality pricing in a 65% probability of 4 to 5 price cuts by year-discontinue, up from impartial 30% a month ago. That shift is extra fueling capital rotation into exhausting sources like bitcoin, which affords a non-sovereign, fastened-provide hedge in opposition to monetary debasement.” He also highlighted a lagging indicator that can perchance maybe supply more upside: “The surge in global M2 liquidity—most ceaselessly mirrored by bitcoin designate movement with a 12-week lumber—shall be initiating to display conceal up on the charts.”
Concluding his outlook, the strategist emphasized bitcoin’s bullish momentum:
With right technical momentum, a dovish macro backdrop, and renewed equity strength, bitcoin looks poised to function the $100K stage within the approaching weeks. If probability appetite continues and liquidity flows reside supportive, BTC might maybe reclaim its all-time high of $108K by the tip of the quarter.
