The leading cryptocurrency, Bitcoin (BTC), has decisively pushed past the $95,000 threshold, continuing a significant upward trend. Market observers speculate this powerful BTC rally could propel the digital asset towards the pivotal $100,000 mark once again.
Recent market data indicates Bitcoin reached a peak of $95,444 within the last 24 hours, marking a strong finish to the month. This is the first time BTC has traded at the $95k level since mid-February, before experiencing a correction that saw prices dip below $80,000 earlier in April.
As of 12:00 UTC on April 30, Bitcoin maintained its stance above $95,000, trading at approximately $95,104, a slight increase of 0.1%. The cryptocurrency’s total market capitalization currently sits around $1.88 trillion. However, its daily trading volume experienced a decrease of nearly 20%, settling at $22.6 billion.
The asset has demonstrated considerable momentum recently, posting gains of 13.3% over the past week and 15.7% over the last month.
This current upswing appears largely driven by broader economic uncertainty, which has dampened investor confidence in traditional assets like stocks and fiat currencies. Consequently, capital has flowed towards perceived safe-haven assets, including gold and cryptocurrencies. Gold itself recently achieved a new record high of $3,390.
Furthermore, growing institutional adoption is bolstering the rally. Data aggregators show that U.S.-based spot Bitcoin exchange-traded funds (ETFs) attracted substantial net inflows totaling $764 million over the past week, signaling strong institutional demand.
Analysis of on-chain metrics suggests a significant portion of Bitcoin holders are currently profitable. Reports indicate that over 85% of BTC holders have unrealized gains, a notable rise from 75% during the recent price dip.
Market analysis previously suggested that a sustained break above the $98,000 resistance level could pave the way for Bitcoin to challenge the $100,000 milestone. Conversely, failure to maintain momentum could see prices potentially retract towards the $85,000–$87,000 support zone.
Disclaimer: This content is for informational purposes only and should not be construed as investment advice.