Bitcoin BTCUSD gained 11% between April 20 and April 26, demonstrating resilience by holding near its two-month high around $94,000. This relief rally followed signals from the Trump administration about easing import tariffs, as well as strong corporate earnings reports.

Investor confidence in Bitcoin was further boosted by a record $3.1 billion in net inflows to spot Bitcoin exchange-traded funds (ETFs) over five days. However, a key BTC derivatives indicator showed signs of bearish momentum, raising questions about whether the $100,000 target is still realistic.

Perpetual Bitcoin futures contracts are favored by retail traders because their prices closely track the spot market. A positive funding rate means that buyers pay to maintain their positions, so a reversal in this rate is typically linked to bearish trends.

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