02 May 2025
Bitcoin $BTC is trading at $96,735, reflecting a 1.62% gain today. The cryptocurrency is approaching the significant $100,000 threshold, buoyed by substantial institutional investments.
š Institutional Investments Fuel Momentum:
BlackRock has invested $350 million in Bitcoin, marking a significant increase in institutional involvement.
Invesco's Bitcoin ETF reported a daily inflow of $10.6 million, indicating sustained investor interest.
š§ Market Sentiment & Technical Indicators:
Bitcoin has broken out from a descending channel and pennant pattern, signaling bullish momentum.
Key resistance levels to monitor are $100,000 and $107,000, while support levels are at $92,000 and $85,000.
š Broader Market Trends:
Public companies have acquired 96% of all Bitcoin to be mined in 2025, underscoring strong institutional demand.
President Trump's establishment of a Strategic Bitcoin Reserve has further legitimized Bitcoin $BTC as a national asset. $BTC
