Bitcoin Could Rebound Toward $90,000, Says 21Shares Strategist
Bitcoin could regain $85,000 and move toward $90,000 if macroeconomic uncertainty eases, according to Matt Mena, a senior crypto research strategist at 21Shares. He sees $85,000 as a key resistance level and says a pullback could take Bitcoin toward $81,000. Bitcoin recently fell below $85,000, which Mena believes had already priced in some downside risk from higher-than-expected inflation. Traders are watching the US producer price index due on October 15 and the Federal Reserve’s October 27–28 meeting. September core CPI rose 0.3% month on month and 2.6% year on year; the monthly increase exceeded economists’ 0.2% forecast. Mena also expects ETH to consolidate near $2,500 before potentially targeting $2,800–$3,000, while SOL could reach $130 by the end of the quarter.
Bullish
The outlook is mildly bullish because the 21Shares strategist sees a potential Bitcoin recovery toward $90,000 and expects ETH and SOL to reach higher levels. His view that some inflation-related downside risk may already be priced in could encourage dip buying if upcoming data do not worsen the macro outlook. However, this is a forecast, not a confirmed trend reversal. Bitcoin must reclaim and hold above $85,000, a level identified as resistance, while a break lower could expose support near $81,000. The September core CPI reading was hotter than expected, and the upcoming US producer price index and Federal Reserve meeting could quickly shift rate expectations and risk appetite. Similar inflation releases have often triggered sharp, short-lived crypto moves as traders reassess monetary policy; the article also cites an average Bitcoin gain of 1.21% in the seven days after above-forecast core CPI readings since 2023, but that historical average does not guarantee a repeat. In the short term, volatility around economic data and the $85,000 level is likely to drive trading. Over the longer term, a sustained move higher would depend on easing macro uncertainty and continued demand, while persistent inflation or a hawkish Fed could undermine the bullish case.