Bitcoin's Strong Rebound Indicates a Challenge to the $100,000 Mark in May!

Bitcoin (BTC) has risen 13% over the past month. Although it has yet to break the $100,000 mark, several bullish signals suggest it may return to this high point in May this year.

Firstly, the decline in exchange reserves indicates that investors are transferring assets to private wallets, suggesting a bullish outlook on Bitcoin's long-term prospects. Currently, there are only 2.47 million BTC left on exchanges, which is associated with a surge in institutional purchases. Additionally, the continuous inflow of Bitcoin spot ETFs indicates a stable growth in market demand.

Secondly, the revival of Bitcoin whale activity and the Market Value to Realized Value (MVRV) indicator show that the current price is still far from its peak, indicating that there is still room for Bitcoin to rise. The MVRV is at 2.1, suggesting that the market is still undervalued.

Finally, the increase in buy orders from whales and high liquidity investors further supports the upward trend of Bitcoin.

In summary, the decrease in exchange reserves, increased ETF inflows, moderate MVRV, and active whale participation all suggest that Bitcoin is likely to break the $100,000 mark in May.