$BTC

📈 Price Action and Technical Trends

Current Price: Around $96,800 – $97,000, up over 14% in the past 30 days and just 3% away from the psychological $100,000 mark.

Resistance & Support:

Resistance: $97,500 – $100,000

Strong Support: $91,000 – $92,000

50-day EMA: $87,820

200-day EMA: $85,735

Technical Indicators: RSI is at 65.88, suggesting the market is not yet overbought. MACD remains bullish, confirming the upward momentum.

Short-term Forecast: If Bitcoin breaks above $97,500, it may reach $100,000 in the coming days. On the downside, $91,000–$92,000 is a potential entry point for long-term investors.

🧠 On-chain Data & Market Sentiment

Whale Accumulation: The number of wallets holding more than 1 BTC increased by 15% in the past 24 hours, indicating strong buying interest from large investors.

Market Sentiment: According to analyst Crypto Rover, the market is “not overheated,” implying there is room for further upside before any major correction.

🏦 Macro Drivers & Institutional Impact

Bitcoin ETFs: Institutional demand has grown following the approval of Bitcoin ETFs, reinforcing BTC’s position as “digital gold.”

U.S. Policy: President Trump’s executive order to establish a national Bitcoin reserve has created long-term bullish sentiment, even if the immediate market reaction was modest.

Institutional Forecasts: Standard Chartered projects Bitcoin could hit $120,000 in Q2 and reach $200,000 by the end of 2025, driven by increasing interest from pension funds and sovereign wealth funds.

🔮 Price Scenarios for 2025

Short-term (May): Expected to trade between $97,000 and $103,000. A surge above $100,000 is likely if trading volume increases.

Mid-term (August–September): Some analysts predict Bitcoin could rise to $125,000 – $150,000, but warn of a potential correction afterward.$

Long-term (End of 2025): Forecasts range from $146,000 to $200,000, depending on macroeconomic conditions and institutional adoption.$BTC