Bitcoin Holds Steady Near $95,000 Ahead of Key MicroStrategy Earnings and Reserve Deadline
Bitcoin (BTC) is holding firm around the $95,000 mark for the fifth straight day as the market awaits a potential breakout. All eyes this week are on MicroStrategy’s Q1 earnings report and the deadline related to its Strategic Bitcoin Reserve, both of which could significantly influence price action.
Institutional interest in Bitcoin remains strong. On Tuesday alone, US spot Bitcoin ETFs recorded $172.78 million in inflows, continuing a positive streak that began on April 17.
According to K33 Research, MicroStrategy’s Q1 results could bring major updates. The company recently exhausted most of its $21 billion at-the-market (ATM) offering, with only $128.7 million remaining six months after launch. While newer financial instruments like convertibles and perpetual preferred stock (STRF) have seen slower traction, the consistently strong premium on MSTR shares suggests the company might announce a new ATM program—potentially sparking renewed bullish momentum for Bitcoin, just like the Q3 "21/21 plan" announcement did.
Bitcoin’s recent technicals also support a bullish case. After breaking above its 200-day EMA at $85,000 last week, BTC surged over 11% through Friday. However, it's been hovering around $95,000 without a strong daily close above it—something it also failed to achieve in March.
A confirmed daily close above $95,000 could open the door for a move to $97,000, the next key resistance level. If bulls manage to push beyond that, a retest of the psychological $100,000 mark could be next.