Bitcoin Soars too $97,650: A New Bullish Trend?
Bitcoin (BTC) has surged to nearly $98,000,marking a important high since early March. As of now,BTC trades around $97,650,showing strong bullish momentum. This rally comes after weeks of stagnant prices.
Bitcoin has recovered over 24% from its February low of $78,200. The recent surge suggests a potential reversal of the decline caused by February’s macroeconomic issues.Much of the earlier weakness was due to policy-related concerns, especially after President Trump’s trade statements.
A key factor behind this rebound is the aggressive buying by treasury-focused companies.In the U.S., Strategy recently added $1.4 billion worth of BTC to its reserves. The firm now holds 553,555 BTC, acquired at an average price of $68,459 per coin. With BTC near $97,000, Strategy’s holdings show a year-to-date gain of about $5.8 billion.
In Asia, Metaplanet is also expanding its BTC holdings. The company issued ¥3.6 billion in bonds to buy more Bitcoin, aiming to reach 10,000 BTC by 2025.
Meanwhile, the economy is cooling down. The ADP jobs report for April showed only 62,000 new private sector jobs, missing expectations.GDP contracted by 0.3% in Q1 2025, against a 0.2% increase forecast. Inflation remains higher than expected, complicating interest rate adjustments.
While gold prices have retreated, Bitcoin is gaining momentum. This shift may indicate investors are seeking option stores of value. Experts are now reevaluating Bitcoin price predictions, with some even considering the $175,000 mark.
Bitcoin’s Bullish Momentum Gains strength
Bitcoin is showing signs of becoming a safe-haven asset as traditional investments weaken.The cryptocurrency’s limited supply and growing interest from big investors are key factors. Spot Bitcoin ETFs have played a major role in this trend. Since April 21, these funds have seen inflows on eight out of nine trading days, adding over $4.16 billion. Nearly half of this came in just two days, April 22 and 23, showing strong demand.
However, rising prices could lead to selling. On-chain data from Glassnode shows that manny long-term holders have over 350% in unrealized gains. If Bitcoin keeps climbing, some may cash out.A concentration of coins near current prices could also act as resistance if investors decide to sell at break-even points.
Analysts beleive Bitcoin is gaining strength. Whether it continues depends on how it performs around key price levels and how investors react to growing profits. robert Breedlove, founder of the What is Money podcast, points to the cost of production as a reliable indicator. When Bitcoin trades above this cost, miners are more likely to hold, reducing short-term supply pressure.
PlanB, known for the stock-to-flow model, notes that Bitcoin’s price is now above its 2-year and 5-month realized prices. This usually reflects strength and has only happened during bull phases.
Technical analyst Rekt Capital suggests a roadmap. If Bitcoin follows a similar path as in late 2024, it may first reject around $99,000, hold support at $93,500, and then break through the $97,000 to $99,000 range before approaching $104,500. If these levels hold, it could signal a run toward new highs.
Tomas, a markets analyst, focuses on the S&P 500’s monthly chart. A 14% lower wick in April suggests bullish pressure, but historical data shows mixed results. Sharp rebounds don’t always mean the correction is over.
Bitcoin’s Future: three Scenarios for 2025
Bitcoin is on the cusp of a potential breakout, according to CryptoQuant’s analysis. The current ratio, a mix of NUPL and MVRV metrics, is at 0.8. this level has historically signaled the start of new rallies.
Here are three possible scenarios for the next six months:
- Optimistic (Bull): If the ratio surpasses 1.0 and holds, Bitcoin could soar to $150,000 to $175,000. This mirrors the momentum seen in 2017 and 2021.
- Neutral: If it hovers between 0.8 and 1.0, the price may fluctuate between $90,000 and $110,000.
- pessimistic: A drop below 0.75 could lead to profit-taking, pushing the price back to $70,000 to $85,000. This is less likely but still possible.
2025 Bitcoin price predictions vary widely. 10x research forecasts a top near $122,000,while BlackRock envisions a scenario where Bitcoin reaches $700,000. Most forecasts fall between $180,000 and $285,000.
Factors like ETF inflows, treasury strategies, and a changing macro surroundings are shaping Bitcoin’s future. A sustained move above $100,000 will need fresh capital and continued buying. Long-term holders with large unrealized profits could also influence the market.
The next few months will reveal whether Bitcoin builds a solid base for higher valuations or faces resistance. As always, trade wisely and invest responsibly.
