Bitcoin Tops $61k as 21Shares Sets 2026 Price Target
Bitcoin (BTC) price topped $61k, outperforming a flat market and primarily driven by a dovish shift in Federal Reserve rhetoric that eased macro pressure. BTC’s trading volume is up 15% over the past 24 hours to $42 billion amid renewed optimism in the crypto market.
Trading data showed that BTC had rallied over 4% to briefly reclaim $62,000 after a weaker-than-expected U.S. jobs report. The economy added only 57,000 nonfarm payrolls in June, well below forecasts, causing markets to lower expectations for further Federal Reserve rate hikes
A shift in Fed Chair commentary, with Kevin Warsh stating inflation risks had eased, renewed hopes for less restrictive policy and boosted risk assets. Investor sentiment was supported by a higher Bitcoin target price of $100k set by cryptocurrency research firm 21Shares.
In a note, 21Shares says it is maintaining “cautious optimism” about Bitcoin’s prospects in the second half of 2026, although the factors pressuring prices are not expected to disappear.
“The number of wallets holding BTC continues to grow,” says the firm in a note. “Our year-end base case is a recovery toward $100,000 rather than a breakout to new all-time highs.”
Over $114 million in short BTC positions were wiped out in 24 hours, indicating forced buying from over-leveraged bears. Technically, reclaiming the $60,000 psychological level provided a bullish signal, with RSI at 62 showing room for further momentum.
Technical traders said the move was accelerated by market mechanics (liquidations) and confirmed by breaking above a key price level that had recently acted as resistance.
The immediate trend hinges on Bitcoin’s ability to hold the $60,000 support zone, which aligns with the 50% Fibonacci retracement level at $60,788. The next major resistance sits between $62,800 and $63,800, a zone defined by the 127.2% extension and the recent swing high.
The market structure has shifted from breakdown to a tentative recovery, but conviction remains low amid persistent ETF outflows.
A close above $62,000 would confirm bullish momentum, or a failure to hold $59,500 would signal weakness and risk a retest of the $57,735 yearly low.
Bitcoin found a bid on improved macro expectations and forced short covering, but the recovery lacks the strong institutional inflows needed for a sustained uptrend. #Bitcoin Tops $61k as 21Shares Set 2026 Target Price Consortium of 140 Companies Launches Stablecoin OUSD
