Bitcoin Eyes $100K as Analyst Sees Potentially Explosive Q4

Bitcoin’s price action is being closely watched after recent Producer Price Index (PPI) data and strong inflows into U.S. spot bitcoin exchange‑traded funds (ETFs). 21Shares senior crypto research strategist Matt Mena highlighted that the market could see Bitcoin move toward the $100,000 level in the fourth quarter if current trends continue.

Inflation Data Tests Bitcoin Support

The U.S. Bureau of Labor Statistics reported that August final‑demand PPI rose 0.4% month‑over‑month and 5.4% year‑over‑year, with energy prices up 4.2% and diesel fuel surging 24.1%. Mena noted that the reading was slightly hotter than expected but largely anticipated, keeping Bitcoin near the $77,000 support level he identified.

He said a move above that resistance is becoming more plausible and that a run toward the $82,000 zone by month‑end is strengthening, though a brief dip to $75,000 remains possible.

ETF Inflows Bolster Bitcoin Outlook

U.S. spot crypto ETFs attracted $1.24 billion in the week ending September 4, with Bitcoin ETFs accounting for about $987 million (≈79%). In the first six trading days of September, Bitcoin ETF inflows totaled roughly $603 million, despite net outflows of $120 million on September 9.

Mena linked the $600 million‑plus inflow to Bitcoin’s chances of climbing back above $80,000, emphasizing the continued relevance of institutional demand.

Altcoin Strength Supports a Bullish Q4 View

Broader market momentum, including Hyperliquid’s rise near $90 and Ethereum’s three‑week outperformance, suggests capital rotation toward altcoins after Bitcoin establishes support. Ethereum gained about 29% in the cited period versus Bitcoin’s 20% advance.

Mena identified $2,500 as a seven‑month resistance for ETH, with a potential breakout opening a path to $3,000. He also projected Q4 targets of $3,500 for ETH, $100 for Hyperliquid (HYPE), and $130 for Solana (SOL).

Upcoming Catalysts

The market awaits the August Consumer Price Index release on Friday and the Federal Reserve’s policy meeting on September 15‑16, which could influence interest‑rate expectations and liquidity conditions.