Bitcoin is barreling toward $100K in the coming weeks

Bitcoin is barreling toward $100K in the coming weeks as explosive momentum, soaring liquidity, and a decisive breakout converge to supercharge the bullish Q2 setup.

Bitcoin Eyes $100K in Weeks—Strategist Maps Bullish BTC Setup Through Q2

Crypto research strategist at asset management firm 21Shares Matt Mena commented Friday on the surprising strength of April’s U.S. jobs report, which helped push risk assets higher and improve overall market sentiment.

The report revealed that the U.S. payrolls increased by 177,000 in April, extending a streak of gains to 52 straight months, while unemployment remained stable at 4.2%.

“While growth in hiring slowed modestly, the data was stronger than expected—helping ease near-term recession concerns and fueling a rebound in market sentiment,” Mena said.

He pointed out that the S&P 500 rebounded past 5,600 following the release and is now trending toward 5,700.

Turning to digital assets, Mena said the renewed appetite for risk is benefiting bitcoin, which broke through a significant resistance level.

“This new risk-on mood is setting the stage for bitcoin to make a run at $100K. The $95K level had been a key resistance zone in recent weeks, and once BTC cleared it with strong volume, momentum accelerated quickly.”

According to Mena, bitcoin is acting in line with broader macro trends.

“With equities pushing higher and liquidity expectations rising, bitcoin is behaving like a high-beta macro asset—closely tied to investor appetite for risk and reflation trades.”

According to the 21Shares research strategist, market expectations for monetary policy have shifted significantly in recent weeks.

“Markets are now pricing in a 65% chance of four to five rate cuts by year-end, up from just 30% a month ago. That shift is further fueling capital rotation into hard assets like bitcoin, which offers a non-sovereign, fixed-supply hedge against monetary debasement.”

Mena also noted a lagging indicator that could offer more upside.

“The surge in global M2 liquidity—often mirrored by bitcoin price action with a 12-week lag—is also beginning to show up on the charts.”

Concluding his outlook, the strategist highlighted bitcoin’s bullish momentum.

“With strong technical momentum, a dovish macro backdrop, and renewed equity strength, bitcoin looks poised to challenge the $100K level in the coming weeks. If risk appetite continues and liquidity flows remain supportive, BTC could reclaim its all-time high of $108K by the end of the quarter.”