Bitcoin Smashes Through $94K Resistance—$100,000 Imminent?
BTC bulls are back in control as the king of crypto retests its all-time high threshold. Market sentiment flips greedy—just in time for another round of Wall Street’s ’this time it’s different’ rationalizations.
Key levels to watch: A clean break above $94k opens the floodgates to six figures. But watch those leveraged longs—nothing makes hedge funds sweat like retail traders actually making money.
The real question isn’t if Bitcoin hits $100k, but how violently the CME futures gap at $98k gets filled when it does. Place your bets.
Bitcoin ETF Demand Increases!
After recording a negative outflow for a significant period, the BTC ETF has successfully regained momentum this week. Reportedly, over the past 24 hours, only ETF recorded a negative flow, whereas 5 ETFs witnessed a positive flow. Notably, BlackRock’s “IBIT” has led the inflow race with $643.2 million on 23rd April.
Following this, Ark’s “ARKB” recorded an inflow of $129.5 million, Fidelity’s “FBTC” recorded an inflow of $124.4 million, Grayscale’s “BTC” recorded an inflow of $29.8 million, and VanEck’s “HODL” recorded an inflow of $5.3 million. While 5 ETFs recorded neutral flow, only Bitwise’s “BITB” recorded a negative Flow of $15.2 million.
With this, the net flow for the day concluded at +$917 million, making it the 4th consecutive positive flow day.
Bitcoin Price Prediction For This Week!
The BTC price has successfully retested the $94,000 over the past 24 hours for the first time since 03rd March. Notably, it has recorded a trading volume of $30.77 billion, a change of -40.87%. Moreover, with a market capitalization of $1.85 trillion, it has a market dominance of 63.52%.
The Moving Average (MA) 20/50 day has experienced a bullish convergence in the daily time frame. On the other hand, the 200-day MA acts as a strong support to the BTC price chart. This suggests a strong bullish outlook for the crypto token in the market.
Moreover, the Stoch Relative Strength Index (RSI) continues hovering above the overbought range in the 1D time frame. However, the average record a negative crossover, highlighting an increase in the buying-and-selling pressure for it.
What’s Next For BTC This Month?
If the market continues gaining momentum, the price of Bitcoin could head toward its immediate resistance trendline of $95,000. Maintaining the price above that level could push the price of the largest crypto token toward its milestone price of $100,000.
On the contrary, if the bears regain dominance, the BTC coin price may retest its support of $91,500. Furthermore, if the bulls fail to regain power at that point, the Bitcoin price could plunge toward its lower support level of $87,000 within a short period.
Also Read: Polygon price Jumps 44% Amid Agglayer Update! What’s Next?
