[21Shares Expects Bitcoin to Rebound to $100,000 by Year-End] According to The Block, asset management firm 21Shares stated in its latest semi-annual report that Bitcoin's current pullback trend is "generally similar" to its performance after previous halvings, and provided a year-end benchmark price expectation of approximately $100,000. The report noted that after reaching a high of around $126,000 in October 2025, Bitcoin has since retreated to approximately $62,000, which remains significantly above the average cost of around $54,000 for all investors and has yet to fall below this cost range. 21Shares believes this indicates that the current pullback is milder compared to previous cycles, with market capital being more resilient. Meanwhile, global cryptocurrency ETPs manage approximately $140 billion in assets, collectively holding around 1.25 million BTC, a decline of only about 8% from previous highs, primarily due to price fluctuations rather than large-scale redemptions.