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HomeNewsBitcoin holds steady at $95K as bullish momentum and whale purchases continue

Bitcoin holds steady at $95K as bullish momentum and whale purchases continue

On April 30, a slight decline of 0.15% was observed in Bitcoin, with it being traded at $95,120. Prior to this, an intraday high of $95,485 had been reached. Over the past week, a 1.64% increase was recorded, while a 16.05% rise has been noted over the past month. The market capitalization is recorded at […]

On April 30, a slight decline of 0.15% was observed in Bitcoin, with it being traded at $95,120. Prior to this, an intraday high of $95,485 had been reached. Over the past week, a 1.64% increase was recorded, while a 16.05% rise has been noted over the past month.

The market capitalization is recorded at $1.88 trillion, with the daily trading volume declining by 13.92% in the past 24 hours, settling at $24.88 billion. A liquidation of $40.31 million was also noted for the token.

However, a bullish sentiment still prevails in the market, with approximately 82% of traders anticipating short-term gains. The sentiment has remained bullish for the past 30 days. The TradingView Technicals (1-day) also indicate a strong buy signal, with neutral oscillators and strong buy-moving averages.

While shorter-term metrics, such as the exponential moving average (EMA10), are at $92,922, the EMA 50, 100, and 200 are positioned at $88,111, $88,517, and $88,517, respectively. Should the bullish movement persist, BTC may approach its first resistance (1-month) at $106,769, followed by the second resistance at $123,256.

However, if the bearish momentum persists, the first support level of the same duration is set at $53,397, followed by the second support level at $36,910. The Relative Strength Index on the daily chart remains at 66, which allows room for further gains, potentially leading to an overbought situation once again.

According to an analysis by Geoff Kendrick of Standard Chartered, BTC could reach $120,000 by the second quarter of 2025, with the potential to surpass the $200,000 mark by the end of this year. Additionally, it was noted that the U.S. Treasury term premium, often correlated with BTC price, is currently at a 12-year high.

Strong accumulation by whales has also been observed, and according to the bitcoin time-of-day analysis, it has been suggested that U.S. investors may be seeking non-U.S. assets, he added.

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