As of April 29, 2025, the price of Bitcoin has broken through the key resistance level of $95,000, currently reported at $95,162, with a 24-hour increase of 1.79%, and a market capitalization of $1.89 trillion. Market sentiment has shifted to greed (index 60), and the amount of coins held on exchanges has dropped to a seven-year low (2.492 million coins), indicating increased confidence in long-term holding. The technical indicators show strength: RSI has risen to 54.32, MACD momentum is strengthening, Bollinger Bands are expanding, and short-term targets are set at $96,500-$98,000, with $100,000 as a psychological barrier.

Driving factors include:

1. Policy benefits: Arizona in the United States has passed a Bitcoin reserve bill, which may attract institutional funds;

2. Capital situation: Continued net inflow into ETFs ($3.06 billion in a single day), speculative demand is warming up;

3. Institutional expectations: Standard Chartered Bank predicts a target price of $200,000 by the end of the year.

Risk warning: Profit-taking pressure, a slowdown in ETF fund inflows, and fluctuations in macroeconomic data may trigger a short-term pullback, with support levels to watch at $94,500-$95,000.