21Shares analyst says BTC is holding near $77,000, keeps $100,000 in view
AI Market Summary
21Shares' strategist highlights strengthening Bitcoin support near $77,000 alongside $603M of September net inflows into U.S. spot BTC ETFs, reinforcing institutional demand. The note also flags improving risk appetite and capital rotation into altcoins, with ETH recently outperforming BTC and Hyperliquid approaching $90. Near term, the framing supports broader crypto beta as flows and relative performance favor a diversified rally.
Impact level
● Medium
Affected assets
BTC/USDT-1.20%
AI Insight · BTC/USDTAI Insight
▲ Bullish
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Matt Mena, Senior Crypto Research Strategist at 21Shares, said Bitcoin's fourth-quarter setup points to a sizable rally. He cited about $603 million of net inflows into U.S. spot Bitcoin ETFs in September and a fresh pickup in risk appetite across altcoins.
Mena said BTC is finding support around $77,000, and sees a growing chance of a move toward the $82,000 area before month-end. He outlined potential Q4 targets of $100,000 for BTC, $3,500 for ETH, $100 for HYPE, and $130 for SOL.
He added that over the past three weeks, Ethereum has gained 29% versus Bitcoin's 20%, while Hyperliquid is closing in on $90—a sign that capital is rotating into altcoins.
