Bitcoin Price Could Rebound to $70,000 Amid Shift Away From Dollar

Ophelia Snyder, co-founder of 21Shares, believes Bitcoin has absorbed much of its selling pressure and feels oversold. In an interview on July 30, she noted that the people who want out have likely gotten out at this pricing.

Snyder's comments come as crypto infrastructure, tokenization, and institutional access are laying the groundwork for the market's next growth cycle. Bitcoin is showing early signs of separating from equities, potentially setting it up for a rebound to $70,000 or higher.

The 21Shares co-founder pointed to a gradual global shift away from the U.S. dollar as a reserve asset and growing interest in gold as key factors contributing to Bitcoin's potential resurgence. She also highlighted the importance of measurable usage, sustainable economics, and clear product-market fit for successful crypto protocols going forward.

Snyder warned that the industry is moving beyond an era where projects could attract capital based on access, incentives, or ambitious visions alone. She emphasized the need for real activity and economic metrics comparable to earnings per token, using Hyperliquid as an example of a platform demonstrating such qualities.