14 October 2026
Bitcoin Price Prediction: Analysts Eye $97K Target Amid Weak Job Market Data
Bitcoin's recent price surge is gaining momentum, driven by disappointing employment data and a renewed interest from investors. According to insights from 21shares, a prominent crypto investment firm, the cryptocurrency is currently testing a critical resistance level at $87,000.
Matt Mena, a senior crypto research strategist at 21shares, highlighted that the softer job market could pave the way for Bitcoin to overcome this barrier and potentially reach $90,000 and $97,000, contingent on favorable macroeconomic conditions.
The U.S. Bureau of Labor Statistics reported that only 29,000 jobs were added in September, with the unemployment rate climbing to 4.2%. This downturn in employment figures has led to decreased expectations for further interest rate hikes by the Federal Reserve, which Mena believes could support Bitcoin's upward trajectory.
In addition to the macroeconomic backdrop, Mena estimated that Bitcoin exchange-traded funds (ETFs) have seen approximately $7 billion in net inflows during the third quarter, marking the strongest performance since Q3 2025. This influx of capital indicates robust market interest and could further bolster Bitcoin's price.
Looking ahead, Mena also provided forecasts for other cryptocurrencies, predicting that Ethereum could reach $4,000 and Solana might hit $140. As the fourth quarter approaches, historical trends suggest that this period is typically favorable for Bitcoin, with an average gain of 62.7%.
With critical economic indicators on the horizon, including the Consumer Price Index and the Federal Reserve's rate decision, the market remains poised for potential shifts that could influence Bitcoin's price trajectory.
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