BTC: As of April 29, 2025, the current price of BTC is $94,900; from a daily perspective, yesterday's closing pattern was a "small bullish candle," with average trading volume, indicating that bulls are dominant but momentum is limited.
On-chain data shows that the U.S. spot Bitcoin ETF had a net inflow of 6,310 BTC (approximately $591 million) yesterday, with institutional confidence continuing to strengthen, but the Bitcoin turnover rate is relatively low, reflecting cautious market sentiment.
On the macro level, on April 29, 2025, the state legislature passed Senate Bill SB1373 by a vote of 37 to 19, achieving the first joint approval of Bitcoin strategic reserves by the U.S. state-level House of Representatives and Senate. The bill has now been submitted to Governor Hobbs, who has five working days (until May 6) to decide its fate. Additionally, the U.S. GDP data set to be released on April 30 will likely trigger volatility, prompting some players to adopt a wait-and-see approach to avoid risks.
In summary, Bitcoin's current price is receiving strong support in the range of $92,000 to $97,000, with a high concentration of chips and a solid market foundation. On April 28, the U.S. spot Bitcoin ETF recorded a net inflow of 6,310 BTC (approximately $591 million), with institutional confidence continuing to rise. However, the long-short ratio is relatively low, reflecting insufficient market momentum, and it may maintain a volatile pattern in the short term. While there is hope for a challenge to new highs this week, daily technical indicators show signs of fatigue, raising doubts about sustained upward momentum. If the market remains strong, it may enter a consolidation phase; if momentum weakens, Bitcoin may face a certain degree of correction.
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