@MattMena
A research strategist at the crypto fund issuer 21shares who writes its monthly Bitcoin memos and is quoted by The Block, CoinDesk and Bitcoin.com. His late-March bull case of $74,000–$76,000, then $80,000 was reached by 6 May, though Bitcoin fell back under his $65,000 line in June. His August call for $80,000 came true by 28 August, and Ether closed back above the $2,000 level he flagged on 20 August.
In short. Matt Mena is a senior crypto research strategist at 21shares, which sells crypto ETFs and exchange-traded products. He signs the firm's monthly Bitcoin outlook and gives the press dated support and resistance levels. On our sample of four calls from 30 March to 6 October, the record is 3 played out, 1 open. His best-known older target missed: a May 2025 post under his name saw Bitcoin at $138,500 by the end of 2025.
Matt Mena is a senior crypto research strategist on the 21shares research team. His 21shares author page says he previously worked at BlackRock as a quantitative researcher and multi-asset product strategist focused on ETFs and digital assets, and before that as a software engineer and machine-learning researcher. He holds a BSc in industrial and systems engineering from the University of Southern California. His X bio calls him US lead crypto researcher at 21shares.
He writes the firm's monthly Bitcoin memos on 21shares.com. They carry his byline, sometimes with additional analysis by colleagues, and are written as “we”. Each one sets support and resistance levels and a bull case and a bear case. Newsrooms also quote him regularly around US inflation prints and Fed meetings.
His method is levels first: moving averages, options max pain, the ETF cost basis and earlier breakdown zones. He sets these against ETF flows, oil, Treasury yields and the Fed calendar. On 14 October he told Bitcoin.com News that “the balance of risks favors a move through $85k and toward $90k”. That came too late to grade here.
His older record includes a clear miss. A 19 May 2025 post under his name on 21shares.com said Bitcoin could reach $138,500 by the end of 2025. According to Bitcoin Magazine, Bitcoin peaked above $126,000 in October 2025 and traded between $88,000 and $94,000 in early January 2026. This page grades only calls inside our 2026 price window. We did not chart outlet paraphrases that have no quote of his.
Sources: 21shares.com · The Block · Bitcoin.com News · CoinDesk · Bitcoin Magazine · x.com/MattMena · CoinGecko
Levels and flows. Matt maps Bitcoin into named zones (breakdown areas, moving averages, the ETF cost basis) and says which one has to break next. That framing caught the spring and summer recoveries. The catalysts his August memo named, cheaper oil and the CLARITY Act, were not what delivered the summer rally: his October memo lists $100 oil and a failed crypto bill. His memos leave a bear case open every time, so the calls read as leans rather than all-in targets.
Leaning bullish. Every memo in our sample put the bull case first. In October he wrote that both of his scenarios describe a market that may have already bottomed.
Four dated calls from Matt Mena charted against real price: three on Bitcoin and one on Ether. Three are from his signed 21shares memos and one is a quote in The Block. The tally is 3 played out, 1 open. His 30 March bull case for $74,000–$76,000, then $80,000 played out by 6 May. His 4 August view that $80,000 was achievable played out on 28 August. His 7 August call that Ether was angling to reclaim $2,000 played out on 20 August. His 6 October bull case that $81,000 holds on any retest is open.
“Bitcoin holds $81,000 on any retest, ETF inflows persist through the month, and long-end yields stabilize. A monthly close above the $88,000 yearly open flips the year to green and confirms the trend change, with a run at $100,000 into year-end as the next target.”
The bull case of his October memo, which called $81,000 first support; the 6 October mark was $85,771. Bitcoin slid to $81,408 (−5.1%) on 18 October and has not closed below $81,000. It has not closed above the $88,000 yearly open (+2.6%), and $100,000 would be +16.6%. It sits at $82,518 (−3.8%). Support is holding so far — open.
SourceBitcoin defies a historically weak September as fundamentals lead — 21shares↗ 21shares.com“ETH is showing strong relative strength of its own, angling to reclaim the key $2k resistance level,”
Told The Block after the July jobs report; the 7 August mark was $1,902. ETH dipped to $1,871 (−1.6%) on 11 August, then closed above $2,000 on 20 August at $2,252 (+18.4%). It rose to $2,775 (+45.9%) on 22 September and sits at $2,424 (+27.4%). Played out.
SourceBitcoin tops $65,000 after ‘massive surprise’ US jobs miss — The Block↗ theblock.co“We view $80,000 as achievable from that position, with a year-end push toward $100,000 as plausible, noting that the last three Q3s averaged a 6.09% gain.”
From the bull case of his July memo, which first needed Bitcoin to reclaim $70,000; the 4 August mark was $63,465. Bitcoin dipped to $62,844 (−1.0%) on 17 August, reclaimed $70,000 on 21 August at $73,021 (+15.1%) and closed above $80,000 on 28 August at $80,268 (+26.5%). It rose to $86,597 (+36.4%) on 22 September and sits at $82,518 (+30.0%). The catalysts he named, cheaper oil and the CLARITY Act, did not arrive; his October memo credits the August Treasury buyback announcement. $100,000 (+57.6%) by year-end is still open. Played out on $80,000.
SourceCrypto ETF flows turn positive in July — 21shares↗ 21shares.com“BTC reclaims the $74,000–$76,000 resistance zone, then $80,000, with sustained acceptance confirming a definitive end to the five-month corrective phase.”
The bull case of his March memo, which he rated medium probability against a low-probability bear case; the 30 March mark was $65,947. Bitcoin closed above $74,000 on 14 April at $74,482 (+12.9%) and above $80,000 on 6 May at $80,914 (+22.7%), peaking at $82,018 (+24.4%) on 11 May. The “sustained acceptance” did not come: it fell below his $65,000 line on 4 June and to $58,566 (−11.2%) on 1 July. It sits at $82,518 (+25.1%). The levels he named were reached — played out.
SourceHow Bitcoin decoupled from broader reaction to uncertainty — 21shares↗ 21shares.comOutcomes are our read of the stated claim against real price, not his own scoring. Every quote is verbatim from the page linked on its card. The 30 March, 4 August and 6 October quotes are the bull-case lines of memos that also set out a bear case; we chart the bull case because it is the one each memo leans toward. Prices are CoinGecko daily marks taken at 00:00 UTC, so intraday highs and lows do not show. Near-term marks can flip.
Matt's memos, press quotes and X posts are free. His employer sells crypto investment products.
He works on the research team of 21shares, which issues crypto exchange-traded products. Its US line-up includes an Ether ETF (TETH) and a Solana ETF (TSOL), each with a 0.21% management fee. The memos graded here are published on the same site. A bullish memo from an issuer is also marketing for its funds.
We found no paid newsletter, course or referral links under his name. His X bio says “Views are my own, NFA DYOR”. We found no disclosure of his personal Bitcoin or Ether holdings.
“BTC reclaims the $74,000–$76,000 resistance zone, then $80,000”
30 Mar 2026 · Reached by 6 May; back under $65,000 by 4 June“ETH is showing strong relative strength of its own”
7 Aug 2026 · ETH above $2,000 on 20 August“We view $80,000 as achievable from that position”
4 Aug 2026 · $80,268 on 28 AugustQuotes transcribed from his own public sources; stated views, not recommendations.
21shares publishes his monthly Bitcoin memo and earnings reviews of Ethereum, Solana and Hyperliquid, all free on its site. We graded the dated Bitcoin and Ether levels.
A senior crypto research strategist at 21shares, the crypto ETF and ETP issuer, and formerly a quantitative researcher and product strategist at BlackRock. He writes the 21shares monthly Bitcoin memo and is quoted by The Block, CoinDesk and Bitcoin.com News.
On our sample of four dated calls from March to October 2026: three played out and one is open. His levels of $80,000 for Bitcoin and $2,000 for Ether were reached, though his March rally did not hold. A 2025 post under his name aimed for $138,500 by the end of 2025, which Bitcoin did not reach.
Leaning bullish. His memos lead with the bull case, and in October he wrote that Bitcoin may have already bottomed, with $100,000 as the next target if a monthly close above $88,000 comes.
Not under his own name. His employer, 21shares, sells crypto ETFs and ETPs, including US Ether and Solana ETFs with a 0.21% management fee.
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Informational and educational analysis based strictly on publicly available materials: memos signed by him on 21shares.com, press articles quoting him by name, his X profile, and the sources linked on each call. Not financial or investment advice. Figures are approximate and change constantly. Spotted an error, or are you Matt? Submit a correction →
Verified handles · Sources cited above · Scoring methodology · Updated 19 October 2026
