Bitcoin Holds Steady Ahead of Key Events: MicroStrategy Earnings & Strategic Reserve Deadline
Bitcoin (BTC) hovered around the $95,000 mark on Wednesday, continuing a multi-day consolidation as traders anticipate a breakout. The market's focus now turns to two pivotal events: MicroStrategy’s Q1 earnings announcement and the Strategic Bitcoin Reserve deadline—both of which could impact BTC price direction.
According to K33 Research, MicroStrategy has nearly exhausted its $21 billion at-the-market (ATM) shelf offering, with just $128.7 million remaining. Analysts expect a bullish update during Thursday’s earnings call, potentially including a new ATM plan—echoing the Q3 announcement of the 21/21 initiative—which could fuel positive sentiment around Bitcoin.
Meanwhile, institutional interest remains robust. US spot Bitcoin ETFs recorded $172.78 million in inflows on Tuesday, marking consistent demand since April 17, as reported by SoSoValue. Sustained or growing inflows may add upward pressure on BTC prices.
Technically, Bitcoin has stayed above its 200-day EMA near $85,000, gaining 11.14% from last week’s breakout to Friday’s high. However, it continues to test resistance around $95,000, a level it failed to surpass in March. A confirmed daily close above this threshold could open the door to $97,000, with $100,000 looming as the next major psychological level.
Traders are watching closely—both the MicroStrategy news and ongoing ETF flows could determine Bitcoin’s next major move.
