Bitcoin Smashes $105K as ETF Issuer Predicts 35% More Pain for Shorts

BTC defies gravity—again—while Wall Street’s latecomers scramble to revise price targets upward. Guess they finally noticed the halving happened 13 months ago.

Why this rally has legs: Spot ETF flows hit $1.2B daily as pension funds quietly allocate—no thanks to the suits who called crypto ’niche’ in 2023.

The cynical take: BlackRock’s ’35% upside’ projection conveniently ignores their own $200M BTC stash. But hey, at least they’re not shorting their clients this time.

Bitcoin targets $138K this year

While BTC hovers just below its January record prices, digital asset ETF issuer 21Shares sees more upside for this year.

"Bitcoin is on the verge of a breakout," research strategist Matt Mena wrote in a Monday report. He argued that BTC’s current rally is driven not by retail mania, but by a confluence of structural forces, including institutional inflows, a historic supply crunch and improving macro conditions that suggests a more durable and mature path to fresh all-time highs.

Spot Bitcoin ETFs have consistently absorbed more BTC than is mined daily, tightening supply while major institutions, corporations such as Strategy and newcomer Twenty One Capital accumulate and even states explore creating strategic reserves.

These factors combined could lift BTC to $138,500 this year, Mena forecasted, translating to a roughly 35% rally for the largest crypto.