🪙 Bitcoin could reach new all-time highs as early as May 🪙
Bitcoin showed an 11% increase in the last week of April, breaking the $94,000 mark. The main drivers were the easing of trade tariffs, strong corporate reporting, and a record influx of investments in spot Bitcoin ETFs — $3.1 billion in five days.
Despite signs of a short-term correction in the derivatives markets, Bitcoin is holding positions near two-month highs.
It is noteworthy that the correlation of Bitcoin with the S&P 500 stock index has decreased to 29%, which indicates the increasing independence of cryptocurrencies as a separate asset. At the same time, the demand for "bearish" positions among retail traders does not coincide with the positive expectations of institutional investors, who are actively building up long-term positions through futures contracts.
Analysts note that if the growth of interest from major players continues, Bitcoin may surpass the $100,000 level in the coming weeks. 🚀