$BTC

As of April 29th, 2025, Bitcoin on Binance is experiencing a period of consolidation, trading just under the $95,000 level. It has shown resilience, holding above $94,000 despite some recent Bitcoin spot ETF outflows.

Here's a brief update based on recent information:

◽Price: BTC is trading around $94,000-$95,000, with some fluctuations observed in the last 24 hours. It has seen a significant gain over the past week.

◽Technical Indicators: Bitcoin is trading above its 50 and 200-day moving averages, which are trending upward, suggesting bullish momentum. The RSI is also above 50, further supporting this outlook. However, some technical analysis notes a bearish divergence on the 4-hour RSI, potentially indicating a short-term retest of lower support levels.

◽Resistance and Support: Immediate resistance is seen around the $95,000 and $96,000 levels, with the psychological $100,000 mark being a key target for a breakout. Support is noted around $93,000, with stronger support near $85,000.

◽Market Sentiment: The Fear & Greed Index is showing "Greed," indicating increasing risk appetite among investors. Institutional interest remains a significant factor, with news of entities like MicroStrategy adding to their BTC holdings and Standard Chartered projecting higher price targets.

◽On-Chain Data: Analysis of exchange flows on platforms like Binance suggests a shift towards accumulation, with less selling pressure and large-volume traders potentially stepping back, leaving the market more influenced by retail behavior. This, combined with the clearing out of leveraged long positions in recent price swings, could set the stage for potential volatility, including the possibility of a "long squeeze" if the price drops suddenly.

◽Macroeconomic Factors: Upcoming macroeconomic data releases this week, such as JOLTS, PCE inflation, ISM Manufacturing PMI, and the Jobs report, are being closely watched as they could impact market direction.