$BTC current price range, near the breakout point at the beginning of 2025, may actually serve as structural and psychological resistance. A short-term retracement becomes more likely as the asset consolidates after a strong rise – especially with the RSI approaching overbought territory at 69. But the sentiment is not limited to technical aspects. On May 1st, there were net inflows of $422 million into Bitcoin spot ETFs, with BlackRock's IBIT (NYSE: BLK) leading with $351 million.

This indicates strong institutional appetite. These types of inflows provide Bitcoin with a solid base and may protect it from a decline.