Bitcoin Eyes May ATH—Here’s Why the Charts Scream Bullish

Bitcoin’s price action is flashing signals not seen since the last bull run. On-chain metrics show whales accumulating, exchange reserves dwindling, and a historically bullish monthly close. The halving dust has settled—now the real momentum kicks in.

Key indicators lining up:

- Miner capitulation phase ending (no more forced sell pressure)

- Taker buy/sell ratio spikes to 3-month high

- Spot ETFs quietly swallowing 5,000+ BTC weekly

Wall Street analysts—late as always—are scrambling to revise Q3 targets upward. Meanwhile, crypto OGs smirk while recycling their ’number go up’ memes. The only thing more predictable than Bitcoin’s volatility? Traders front-running the halving narrative like clockwork.

Will May mark a new cycle peak? The market’s pricing in 80% odds. Just don’t tell the SEC.

In Brief

• Bitcoin has performed exceptionally well in all economic environments since the American election.
• Its Sharpe ratio of 1.72 (second only to gold) demonstrates its maturity as a financial asset.
• The dominance of buyers in the spot market indicates strong institutional interest.
• Over $4.5 billion has been injected into Bitcoin ETFs since April 1st.

The probability that Bitcoin will exceed $110,000 in May is increasing

Bitcoin crossed the $100,000 mark in early May, sparking speculation of a continued rise.

According to Bitcoin Suisse, a prestigious crypto custody services provider, Bitcoin’s strength lies in its unique ability to thrive in diametrically opposed economic contexts since Donald Trump’s victory.

The data from their “Industry Rollup” report highlights Bitcoin’s impressive Sharpe ratio (1.72). This financial indicator measures the risk-adjusted returns of an asset.

The higher this ratio, the more the investment is considered performing. In 2025, only gold surpasses bitcoin on this criterion, demonstrating its growing maturity as an asset class.

Dominic Weibei, research director at Bitcoin Suisse, perfectly summarizes this versatility:

Bitcoin has established itself as a true Swiss Army knife. Whether stocks rise or bonds collapse, BTC trades according to its own fundamentals, offering a win-win profile unmatched by traditional assets.

Unprecedented Institutional Demand

On May 7th, a significant turning point occurred: the cumulative 90-day volume delta of spot Bitcoin takers became predominantly buyer-side for the first time since March 2024. This indicator, which measures the net difference between buy and sell volumes, confirms sustained buying pressure.

This buying momentum is largely fueled by a massive influx of institutional capital. Spot Bitcoin ETFs have recorded over $4.5 billion in inflows since early April, creating considerable buying pressure in a market where supply remains limited.

Meanwhile, Fidelity Digital Assets, in its Q2 2025 “Signals” report, anticipates that Bitcoin is entering a new “acceleration phase.” According to Zack Wainwright, analyst at Fidelity, this phase is historically characterized by “high volatility and high profits.”

All in all, the combination of this growing institutional demand with Bitcoin’s versatility as a dual-purpose investment (hedge against inflation and growth asset) creates the ideal conditions to propel the BTC price beyond $110,000 as soon as this May.

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