21Shares Sees Bitcoin Return to $100,000 by Year-End

Crypto asset manager 21Shares has revised its market outlook for Bitcoin, saying the four-year price cycle remains valid despite a sharp decline after last year's record high. According to their midyear report, the current correction is similar to past post-halving periods, with prices consistently staying above investors' average purchase price of about $54,000.

The company had previously said the traditional halving-led four-year price cycle could end in this cycle, but changed its stance to reflect recent market moves. 21Shares now puts more weight on a return to $100,000 by year-end than on setting a new record high.

They cited a steady rise in the number of wallets holding Bitcoin as a positive factor and kept a relatively optimistic view on institutional flows. However, they revised their forecast for global crypto exchange-traded product (ETP) assets under management, saying it would be difficult to exceed $400 billion by the end of 2026.