Bitcoin Nears $100K as Supply in Profit Signals Market Euphoria

Bitcoin’s bullish momentum continues as the cryptocurrency trades above $94,000, marking a strong recovery from recent corrections. Despite being 12.7% below its January peak, traders are closely watching the psychological $100,000 resistance level. On-chain data reveals a significant milestone: over 85% of Bitcoin’s circulating supply is now in profit, a historical indicator of approaching euphoria phases and potential volatility spikes. As of the latest update, BTC is priced at 104,390.76 USDT, fueling optimism for further gains.

Bitcoin Supply in Profit Rises Above 85% as Market Nears Euphoria Threshold

Bitcoin’s recovery gains momentum, trading above $94,000 amid a gradual rebound from recent corrections. The asset remains 12.7% below its January peak, with traders eyeing the psychological $100,000 resistance level.

On-chain metrics reveal a pivotal shift: over 85% of Bitcoin’s circulating supply now sits in profit. This historically signals approaching euphoria phases, often preceding volatility spikes. Analysts caution that while bullish momentum may persist, profit-taking could trigger price swings.

Investors Pour Into Bitcoin ETFs for 8th Straight Day

Bitcoin ETFs continue to attract significant investor interest, marking an eighth consecutive day of net inflows. Total daily inflows across US-listed funds surpassed $170 million, with BlackRock’s iShares Bitcoin Trust (IBIT) leading the pack at $216.73 million.

The sustained demand reflects growing institutional confidence in cryptocurrency exposure through regulated vehicles. IBIT’s cumulative inflows now stand at $42.39 billion, cementing BlackRock’s dominance in the crypto ETF space.

Arizona Legislature Passes Landmark Bitcoin Investment Bills

Arizona has become the first U.S. state to pass legislation authorizing strategic bitcoin reserves. Senate Bill 1025, the Arizona Strategic Bitcoin Reserve Act, and Senate Bill 1373, establishing a Digital Assets Strategic Reserve Fund, cleared both legislative chambers with votes of 31-25 and 37-19, respectively. The bills now await Governor Katie Hobbs’ signature.

The legislation permits the state treasurer and retirement system to allocate up to 10% of available funds into Bitcoin and other digital assets. This MOVE signals growing institutional acceptance of cryptocurrency as a legitimate asset class for public investment portfolios.

The decision follows committee approvals in March and represents a watershed moment for crypto adoption at the state government level. Market observers will watch closely for potential Ripple effects across other state legislatures.

Top 3 Cryptocurrencies That Could Hit New All-Time Highs In 2025

The cryptocurrency market shows resilience after a volatile period, with Bitcoin reclaiming the $95,000 level despite facing stiff resistance. The global market cap now stands at $3.08 trillion, down 1.3% in 24 hours, but the recovery from recent lows has bolstered investor sentiment.

Bitcoin’s struggle to break past $95,000 reflects broader market caution, though political developments—such as the 90-day tariff pause announced by President Trump—may provide tailwinds. The absence of panic selling suggests underlying strength in digital asset valuations.

Bitcoin Nears $95K Amid Economic Data Watch, Altcoins Trail

Bitcoin climbed 0.8% to $95,041.2, hovering near recent highs as traders braced for pivotal U.S. economic indicators. April’s 15% rally—fueled by institutional ETF inflows and regulatory optimism—faces a reality check from looming GDP and PCE data. The crypto market holds its breath for inflation signals that could reshape Fed policy.

While BTC dominates, altcoins struggle to keep pace. Market momentum falters under dual pressures: renewed U.S. economic uncertainty and simmering China trade tensions. All eyes now turn to Friday’s nonfarm payrolls report—the next potential catalyst for crypto volatility.

Bitcoin Demand Momentum Remains Subdued Despite Price Rally

Bitcoin’s recent price surge from $85,000 to $95,000 masks underlying weakness in demand momentum, according to CryptoQuant analyst Crazzyblockk. The 30-day Demand Momentum metric remains deeply negative at -483,860 BTC, with its moving average hovering NEAR -310,700 BTC.

The metric—calculated by subtracting long-term holder supply from short-term holder supply—suggests persistent caution among investors despite the price appreciation. This divergence between price action and fundamental demand signals potential fragility in the current rally.