Bitcoin’s early indications of strength could lay the ground for a move towards $100,000. The digital asset has found solid support at the 20-day exponential moving average (EMA) on the 4-hour time frame. This news represents another step away from bearish sentiments among investors. According to technical indicators, Bitcoin might surge past $100,000 after breaking resistance at $95,000, potentially rallying to $107,000 thereafter. Sina’s Bitcoin Quantile Model supports this optimistic perspective. Bitcoin’s price trajectory The firm estimates Bitcoin will reach at least $130,000 and as much as $163,000 by the end of 2025.
It reflects the existing market dynamics at play and an ongoing standoff between bulls and bears at the psychological $95,000-level. The upsloping 20-day EMA at $88,619 and the relative strength index (RSI) hovering near the overbought territory suggest that the bulls are currently in control. Bitcoin’s resilience was remarkable, rising 10% to close out the week. Analysts project it will rise another 40% by the end of the year.
Technical Indicators Point to Continued Growth
Bitcoin’s recent performance has been underpinned by a few major technical indicators. The upsloping 20-day EMA indicates the overall trend is bullish. This indicates that Bitcoin’s average price over the last 20 days is increasing. The RSI calculates the magnitude of recent price changes to determine overbought or oversold conditions. It’s a sign that demand continues to be robust.
Taken together, the convergence of these factors creates a very bullish picture of momentum here to stay. Breaking through the $95,000 resistance level is key to confirming this bullish outlook and opening the door for potential further gains. If the breakout is big enough, it could send both up in a surge of buying momentum, pushing Bitcoin through the $100k goal.
The bullish signal of Bitcoin’s strong uptrend thus gets an additional support from the significantly high inflows into US spot Bitcoin exchange-traded funds (ETFs). And according to recent data, that’s resulting in big bets placed on these ETFs, with recent inflows into the ETFs topping $3.06 billion. Institutional interest is all the rage these days with a noticeable increase in confidence regarding Bitcoin’s long-term potential. This growth in demand is driving bullish optimism in the market.
Altcoins Show Promise Amidst Bitcoin's Rise
Though Bitcoin is the talk of the town, many altcoins are developing exciting technical patterns too. Bittensor (TAO) recently broke out above a downtrend line on April 20, indicating a possible change in momentum. This breakout can be seen as an indication that the bears are starting to lose control, and consequently the price may be ready to continue making bullish moves. Many analysts believe that the range between $11.56 and $12.45 will provide excellent support for TAO. This would provide an appealing entry point for investors.
SUI is another altcoin to monitor, but it has faced strong resistance around $3.90. The weakness is highlighted by the relatively shallow pullback from this level, a sign that bulls don’t want to sell their positions, a sign of strength underneath the surface. If buyers manage to break the price past the $23.10 resistance, SUI might even spike to $25.
Avalanche (AVAX) has been trading within a range of $23.50 and $15.27 for several days, indicating a period of consolidation. A rally over $16 is bringing out the sellers, however the minor pullbacks indicate that buyers are clearly stepping in to buy the dips. If AVAX price manages to move past the $375 resistance level then it might indicate that the uptrend has resumed.
ETF Inflows Fuel Optimism
The recent surge in Bitcoin’s price is highly correlated with Bitcoin ETFs getting closer to adoption. These investment vehicles provide an attractive, flexible option for investors. For both institutional and retail investors, it is far easier to simply have exposure to Bitcoin without holding the asset directly. The massive recent rise in ETF inflows is a reflection of Bitcoin’s increasing mainstream acceptance as a legitimate digital asset.
"HOW FAST the flows can go from 1st gear to 5th gear." - Eric Balchunas
As more investors allocate capital to Bitcoin ETFs, the demand for Bitcoin is likely to increase, potentially driving up its price. ETFs help bring Bitcoin to a wider variety of investors. They’re quickly becoming more attractive and are thus helping to spur Bitcoin’s massive growth.
