21Shares: Bitcoin is expected to rise significantly within the year and is currently on the verge of a breakout.

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On May 20, according to CoinDesk, although the price of Bitcoin hovers slightly below this year's historical high in January, digital asset ETF issuer 21Shares believes there is greater upward potential for Bitcoin this year. 21Shares research strategist Matt Mena wrote in a report released on Monday: "Bitcoin is on the verge of a breakout." He believes that the current Bitcoin rally is not driven by retail investor frenzy, but rather by multiple structural forces at play, including institutional capital inflows, historic supply tightening, and improved macroeconomic conditions, all of which suggest that Bitcoin is set to chart a more sustained and mature path towards new historical highs. The amount of Bitcoin continuously absorbed by spot Bitcoin ETFs exceeds daily mining output, further tightening supply. Meanwhile, major institutions, such as Strategy and newcomers like Twenty One Capital, are also steadily accumulating Bitcoin, and even some countries are beginning to explore establishing strategic reserves. Mena predicts that the combined effects of these factors could drive Bitcoin up to $138,500 this year.

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