Bitcoin (BTC) Rockets Past $90K, Fueled by Institutional Flows and Macro Tailwinds, Targeting $200K

Strategist Dissects What's Behind Bitcoin's Rally—Calls $200K BTC a Real Target in New Regime

A top strategist is signaling a paradigm shift as bitcoin (BTC) rockets past $94K, fueled by institutional flows and macro tailwinds, with $200K now a credible near-term target.

Crypto Research Strategist at 21Shares Matt Mena attributed the price surge to “a confluence of macro and structural catalysts.” A softer diplomatic stance from President Donald Trump toward China and renewed clarity over U.S. Federal Reserve Chair Jerome Powell’s tenure are reconfiguring investor strategies.

These developments, combined with a weakening dollar, are creating a more favorable environment for risk assets. However, bitcoin is distinguishing itself from the pack as more than a speculative instrument.

“This rally isn’t retail-driven hype—it’s institutional capital positioning ahead of what many see as a new monetary and political regime,” he remarked in a recent analysis.

That shift is evident not just in sentiment, but in how bitcoin is behaving relative to traditional markets. Mena added that bitcoin’s 7-day correlation to the S&P 500 and Nasdaq has gone negative, highlighting that the asset is no longer being treated as a tech proxy.

Instead, it’s gaining traction as “a hybrid macro asset—part digital gold, part growth equity—roughly 80% gold and 20% tech.”

Capital flows have followed suit, with bitcoin and ethereum ETFs bringing in over $1.3 billion in just two days. Meanwhile, more than $500 million in crypto short positions were liquidated as traders scrambled to adjust.

“Short term, the next resistance sits around $95K, which could act as a brief pause point given the pace of this rally. Beyond that, the key psychological level remains $100K,” cautioned Mena.

The broader landscape continues to build the case for bitcoin’s momentum, he noted, and the total crypto market cap has once again crossed the $3 trillion mark, matching highs not seen since the 2020–2021 cycle.

Economic indicators such as the approaching 4% yield on 10-year Treasury notes and expectations for three to four interest rate cuts by year’s end are reinforcing bullish sentiment. Mena predicted the potential for further upside:

“Bitcoin could potentially double by the end of the year, following global liquidity dynamics as it has in past cycles and reaching a high of $200K.”

Investors are increasingly looking beyond volatility, Mena concluded, and more are turning to it not just as a speculative asset, but as a flight to safety amid rising uncertainty across traditional markets.