Bitcoin's breakthrough to $95,000: $1.8 billion investments in BTC-ETF support the rise

The recent rise of Bitcoin BTCUSD confirmed a key bullish pattern, which instills additional optimism regarding its price dynamics.

Let’s figure out what is happening in the Bitcoin market BTCUSD and what to expect from the cryptocurrency price.

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Bitcoin whales are actively accumulating

Whale activity remains a key factor in the rise of Bitcoin’s price. According to the trend accumulation index, investors holding more than 10,000 BTC show an almost perfect accumulation index of 0.9, indicating strong optimism among major investors.

This accumulation indicates that the whales expect the continuation of the bullish impulse and are preparing for further profits.

Moreover, investors holding between 1,000 and 10,000 BTC are also actively buying, having a slightly lower accumulation index of 0.7. This indicates that smaller players are following the whales, contributing to the overall positive sentiment around Bitcoin.

The confidence shown by these large investors suggests that the demand for bitcoin will continue to rise, which could lead to an increase in prices.

! Bitcoin Trend Cumulative Index (BTC)The macroeconomic situation for bitcoin is becoming increasingly favorable, especially thanks to recent capital inflows into spot ETFs. Over the past two days, they have received $1.8 billion, with the bitcoin ETF receiving $912 million on April 22 and $917 million on April 23, the highest one-day inflow in more than five months.

These significant inflows clearly indicate a rising demand and reflect investor confidence in the long-term potential of Bitcoin. As the demand for Bitcoin ETFs increases, so does the potential for the price of Bitcoin to rise.

BTC price is aiming for $95,000

Currently, Bitcoin is trading at $92,347, slightly below resistance at $93,625. Despite recent breakout attempts, Bitcoin has yet to overcome this key level.

The cryptocurrency confirmed the formation of a double bottom earlier this week, increasing by 10% in just two days. This breakout strengthens the bullish outlook, and the combination of accumulation by whales and inflows into ETFs could help Bitcoin overcome resistance at $93,625.

A successful breakout could push Bitcoin to the $95,000 mark and possibly to resistance at $95,761.

However, if Bitcoin cannot maintain the upward trend and falls below the support of $89,800, it could lead to a bearish reversal. A drop below this support level would negate the bullish forecast and could result in Bitcoin’s price falling to $86,822, nullifying recent gains.

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