Executive Summary

Bitcoin traded at approximately $94,426.58 on May 6, 2025, bolstered by record institutional ETF inflows, network‐level strength, and on‐chain signals returning to historical norms. Institutional demand remains robust, with spot Bitcoin ETFs seeing significant net inflows in Q2 2025. The network hashrate is hovering near all‐time highs around 903.91 EH/s, while the MVRV ratio has retreated to its long‐term mean of 1.74, often a precursor to price rallies. Technical indicators such as trading above the 111-day moving average and key support/resistance levels suggest a bullish continuation, and improving regulatory clarity—particularly in ETF frameworks—adds to the positive medium-term outlook.

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Price Performance and Market Overview

Bitcoin’s spot price was $94,426.58 on May 6, 2025, reflecting a slight 0.22% decline over the previous 24 hours. Over the past month, BTC has rallied over 14% after a pullback below $75,000 in April, demonstrating resilient buying pressure amid broader market volatility.

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Institutional Adoption and ETF Inflows

Spot Bitcoin ETFs saw record net inflows in Q2 2025, according to the latest Glassnode × Coinbase Institutional report, driven by renewed institutional confidence in BTC as a portfolio diversifier. Major asset managers continue to file for new Bitcoin‐related products, and custody solutions have expanded, signaling deepening institutional engagement. However, weekly ETF inflows dipped to a 2025 low of $15.85 million in mid-April, indicating short-term sentiment fluctuations despite the broader uptrend.

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Network Fundamentals

Hashrate and Difficulty

The Bitcoin network hashrate stands at approximately 903.91 EH/s, just below its April all-time high of 1,124.52 EH/s, underscoring strong miner participation and network security. Mining difficulty remains elevated at around 116 T, reflecting sustained competition among global miners.

MVRV Ratio

On‐chain analytics show the MVRV (market value to realized value) ratio has retraced to 1.74, its long-term average. Historically, such retracements have preceded significant BTC price advances, as unrealized gains normalize and provide fresh buying opportunities.

Active Addresses

Active Bitcoin addresses have risen noticeably in recent weeks, signaling renewed participation from both retail and institutional wallets, according to on‐chain data.

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Technical Analysis

BTC is trading above its 111-day moving average—a key trend indicator that has reliably marked bullish regimes when sustained. Short‐term support holds around $92,000, with resistance near $100,000; a break above this psychological level could trigger accelerated momentum. Chart patterns also highlight a former resistance-turned-support at $88,800, adding another layer of downside protection.

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Regulatory Environment

Regulatory clarity improved in 2025 as multiple jurisdictions approved spot Bitcoin ETFs, reducing institutional uncertainty and facilitating inflows. In the U.S., the SEC’s approval of spot Bitcoin ETFs in January 2024 has paved the way for broader crypto-ETF innovation, including proposals for Ether, XRP, and Solana ETFs. Meanwhile, the Federal Reserve’s decision to maintain interest rates at 4.25%–4.50% has steered investors toward risk assets like Bitcoin as a potential hedge against low real yields.

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Outlook and Conclusion

With institutional flows accelerating, network security near all-time highs, and on-chain metrics signaling healthy consolidation, Bitcoin is well positioned to challenge the $100,000 mark in the coming weeks. Investors should monitor ETF flow reports, MVRV and active-address trends, and key technical levels around $92,000–$100,000 to time entries and manage risk. $BTC #FOMCMeeting #BTC #BitcoinReserveDeadline