Key Takeaways
How is Bitcoin’s price doing on the charts?
At the time of writing, the cryptocurrency was valued at just over $111k, after falling by over 9% in less than a week.
What does 21Shares’ Matt Mena think about Bitcoin?
Matt Mena believes that structural demand, driven by ETF inflows and a more dovish policy outlook, will provide a floor to Bitcoin’s price.
Bitcoin [BTC], after soaring to a historic peak of $126,000, is now facing a pretty challenging stretch. At the time of writing, it was trading at $111,148.07, down 0.9% over the last 24 hours and 9.43% over the past week.
Matt Mena’s optimistic outlook for Bitcoin
Despite this dip and the wavering investor confidence, Matt Mena, Crypto Research Strategist at 21Shares, is a believer in Bitcoin’s enduring resilience. Recently, he highlighted the same in the face of broader market dynamics as the year draws to a close.
Mena said,
“Overall, Bitcoin’s resilience amid macro crosscurrents and aggressive deleveraging underscores how structural demand – anchored by ETF inflows and a more dovish policy outlook – continues to provide a floor.”
He added,
“With leverage flushed, policy easing approaching, and structural demand accelerating, the setup into year-end appears increasingly constructive for digital assets – setting the stage for a potential move toward $150K Bitcoin as macro tailwinds and institutional flows continue to align.”
What motivated these remarks?
His comments came on the back of markets recovering after Fed Chair Jerome Powell signaled potential rate cuts and a pause in balance sheet runoffs, with Futures pricing in roughly two cuts by year-end at 95% certainty, according to CME FedWatch.
The comments stabilized risk assets, with the S&P 500 rising near $6,650 and Bitcoin holding above $110,000.
The rebound followed a $19 billion crypto de-leveraging event last week. It triggered sharp price swings on centralized exchanges, while decentralized platforms remained operational, showing greater resilience.
With excess leverage cleared, Mena believes that the market is now better structured for the next move.
Globally, the IMF cut its 2025 growth forecast to 3.2%. However, thawing of U.S-China diplomatic relations might offer some optimism.
Domestically, the U.S government shutdown is now entering its third week, with a 70% chance of resolution by mid-November. This leaves the markets reliant on Fed guidance and private indicators to gauge near-term momentum.
Additionally, Bitcoin’s structural demand has also been strong, with over $6 billion in U.S ETF inflows this month and Global crypto ETF assets nearing $300 billion by year-end.
On-chain data and other metrics to gauge Bitcoin’s performance
Meanwhile, its market dominance rose to 58.7%, while public companies now hold a record 172 Bitcoin treasuries totaling over 1.02 million BTC.
And yet, caution persists. The Crypto Fear & Greed Index’s reading of 32 signaled lingering market anxiety. All while technical indicators such as the RSI pointed south – A sign that bears may have the upper hand.
Source: TradingView
On-chain analysis, however, also indicated that most Bitcoin supply remains in profit, and short-term holders continue to play a critical role. This is a sign that there could still be room for further upside.
Taken together, Bitcoin stands at a pivotal moment right now. It is simultaneously consolidating strength, attracting institutional flows, and navigating short-term bearish pressures.
Whether this marks the beginning of a sustained rally or a final test of resilience, the coming weeks could prove decisive for the year-end trajectory of the flagship cryptocurrency.
