Institutional Demand and ETF Fund Inflow:

The net inflow of spot Bitcoin ETFs recently exceeded $900 million in a single day, reaching a new high since January 2025, indicating increased confidence from traditional financial institutions.

The exchange Bitcoin stock has dropped to the lowest level since December 2016, showing that long-term holders (HODLers) are reluctant to sell, reducing market selling pressure.

Perpetual contract funding rate: Negative financing rates (shorts pay longs) may trigger a short squeeze, driving prices up rapidly.

Moving Average: Bitcoin has stabilized above the 200-day moving average, with technical structure supporting a bullish trend.

Weakening Dollar Index: The dollar index recently plummeted to 98.30, with funds shifting towards non-dollar assets like Bitcoin.

Trade Policy Risks: The temporary policy of tariff exemptions from the Trump administration remains uncertain, potentially triggering market volatility.

Sentiment Indicator: The Fear and Greed Index has recently risen to the “neutral” zone, indicating that investor sentiment is gradually turning optimistic but has not yet entered the extreme greed phase.

Current Price and Key Resistance Levels

Price Level: As of April 24, Bitcoin's price has rebounded to around $90,000, about 21% up from the mid-April low (74,500 USD). On April 23, it briefly reached $94,700, a new high since March, but subsequently faced psychological resistance at $95,000 and experienced a pullback.

Resistance and Support:

Resistance Level: $95,000 is the current major resistance; if broken, it may challenge the $100,000 mark; if further broken, it could approach the historical high of $109,000 from January.

Support Level: Short-term support is around $92,000, which has been tested and rebounded from in the last two days. Strong support at $88,690 (200-day moving average) also serves as a previous daily top-bottom conversion support level.

For intraday BTC trading, you can consider placing a long position in the range of $91,500—$92,000, with a stop loss at $91,000. If it effectively breaks above $95,000, you can consider a long position, possibly opening the path for Bitcoin towards $100,000.

In terms of ETH, with this round of Bitcoin's rise, ETH has also followed suit, but we can see that the increase in ETH is modest, peaking around $1,840, and currently, following the pullback, it has come down to around $1,740. The support level below can be referenced around $1,700, which is also the support level for the daily top-bottom conversion.