TLDR
- Bitcoin (BTC) broke above $95,000 recently, posting weekly gains of over 10%
- Record $3.1 billion in net inflows to spot Bitcoin ETFs over five days boosted investor confidence
- CZ (Changpeng Zhao) of Binance sent a “buy-the-dip” signal after Bitcoin reclaimed $95,000
- Technical indicators remain bullish with analysts projecting BTC to reach between $130,000-$200,000 by end of 2025
- Bitcoin’s weakening correlation with stocks (down to 29% from 60%) highlights its growing independence as an asset
Bitcoin has demonstrated remarkable strength in recent days, climbing above the $95,000 level as bulls continue their push toward the highly anticipated $100,000 milestone. This latest rally comes amid positive market sentiment, strong institutional investment, and technical signals pointing to further upside potential.
The world’s largest cryptocurrency gained approximately 11% between April 20 and April 26, showing resilience by holding near its two-month high around $94,000. By midday Sunday, April 27, Bitcoin traded as high as $95,115, posting 24-hour gains of approximately 1.0%.
Record ETF Inflows Fuel Bitcoin’s Rise
One of the key drivers behind Bitcoin’s recent price strength has been the record-breaking inflows into spot Bitcoin exchange-traded funds. Over a five-day period, these ETFs saw net inflows of $3.1 billion, highlighting growing institutional interest in the cryptocurrency.
Bloomberg ETF analyst Eric Balchunas noted how quickly the flows can shift “from 1st gear to 5th gear,” underscoring the rapidly changing sentiment in the market. This surge in institutional investment provides a solid foundation for Bitcoin’s continued upward momentum.
ETFs are on a bitcoin bender, have consumed nearly 25,000 btc in three days, $IBIT alone took in $643m yesterday, #1 among all ETFs. What's really notable here is just HOW FAST the flows can go from 1st gear to 5th gear. Prob some is basis trade back in effect, that's the fast… https://t.co/WwE50FWUq1
— Eric Balchunas (@EricBalchunas) April 24, 2025
On a weekly basis, BTC posted a 10.6% uptick, outperforming both the Nasdaq’s S&P 500 Composite index and gold futures. At press time, Bitcoin’s monthly gains stand at 11.8%, while year-to-date returns remain strong at 48.4%.
The relief rally followed signals from the Trump administration about easing import tariffs on Chinese goods, as well as strong corporate earnings reports. Fresh headlines confirming U.S. President Donald Trump’s plans to roll back tariffs on Chinese imports sparked a broader rally in equities and commodities, creating favorable spillover effects for Bitcoin.
Technical Analysis Supports Bullish Outlook
Bitcoin’s price forecast remains bullish after a resilient close above $94,300, firmly inside the upper Keltner Channel band at $94,319.51. The current BTC Keltner Channel expansion signals growing momentum, potentially a precursor to a sustained rally toward the $102,500.
Supporting this narrative, the Parabolic SAR at $87,224.78 has shifted further below the current price, reinforcing a prevailing bullish trend. The TM RSI reading at 66.31, while elevated, has not yet crossed into the overbought 70 zone, suggesting further room for upside.
The 4-hour chart shows bears fiercely defending the $95,000 level but struggling to sink the price below the 20-EMA. If the price rebounds off the 20-EMA, it enhances the prospects of a break above $95,000, with the pair potentially surging to $100,000.
Bitcoin Decoupling from Traditional Markets
Currently, the 30-day correlation between the S&P 500 and Bitcoin stands at 29%, well below the 60% level seen from March to mid-April.
While this lower correlation does not mean a complete decoupling, since investor sentiment is still influenced by macroeconomic factors, it does show that Bitcoin is increasingly functioning as an independent asset class rather than simply mirroring technology stocks.
Gold’s inability to maintain its bullish momentum after reaching an all-time high of $3,500 on April 22 was also seen as important for Bitcoin’s status as an independent asset. Some traders had questioned the “digital gold” narrative, but the longer BTC remains above $90,000, the more confidence investors may have in its unique value proposition.
On the derivatives front, the increased demand for bearish leverage in perpetual BTC futures does not align with the sentiment of professional traders. On April 26, the two-month Bitcoin futures premium rose to its highest level in seven weeks, indicating greater interest in bullish positions among institutional investors.
The disconnect between leverage demand in perpetual futures and monthly BTC contracts is not unusual. Even if retail traders remain cautious, substantial accumulation by institutions could be enough to push Bitcoin’s price above $100,000 in the near future.
Binance co-founder Changpeng Zhao recently hinted at further upside potential, posting “I hope you bought the dip. 😆🤷♂️” shortly after Bitcoin reclaimed the $95,000 mark. Although short and cryptic, Zhao’s comments carry weight across the crypto community and often influence both retail and institutional sentiment.
I hope you bought the dip. 😆🤷♂️
— CZ 🔶 BNB (@cz_binance) April 27, 2025
Looking ahead, analysts have set ambitious targets for Bitcoin. 21st Capital co-founder Sina’s Bitcoin Quantile Model projects Bitcoin to reach between $130,000 and $163,000 before the end of 2025. Anonymous Bitcoin analyst apsk32 had an even higher target of more than $200,000 for Bitcoin in Q4 of this year.
