Bitcoin Price Climbs Above $95,000 on Eighth Consecutive Day of Spot ETF Inflows
With $172.78 million pouring into US-listed Bitcoin ETFs yesterday, can BTC-USD sustain its momentum toward a new all-time high? | That's TradingNEWS
Institutional Allocations Firm Behind BTC-USD as Spot ETF Inflows Exceed $170 Million
Bitcoin’s spot ETF saga shows no signs of cooling, with US-listed funds drawing in $172.78 million on Tuesday alone, marking the eighth straight session of net inflows. BlackRock’s iShares Bitcoin Trust (IBIT) led the charge, attracting $216.73 million in new capital and lifting its cumulative inflows to $42.39 billion since inception. Despite Bitwise’s BITB losing $24.39 million, its lifetime net intake remains a healthy $2.05 billion. This torrent of institutional demand underpins Bitcoin’s recent push toward the $95,000 threshold and highlights growing confidence in BTC-USD as a core portfolio allocation.
Futures Open Interest and Funding Rates Signal Caution Amid Rally
While the ETF channel gushes fresh liquidity, BTC-USD futures open interest has dipped 3 percent over the past 24 hours to $61.81 billion even as price ticked up 1 percent. Such a divergence—price rising with shrinking OI—often indicates profit‐taking or de‐risking among leveraged traders. Funding rates remain positive at 0.004 percent, meaning longs still pay shorts to hold positions, but the compressed margin suggests bulls are reluctant to add fresh leverage. This tug‐of‐war between bullish sentiment and cautious derivatives positioning may set the stage for intermittent pullbacks as price hovers near multi-week highs.
Weekly Volatility for BTC-USD Plunges to 563-Day Low, Highlighting Market Maturation
According to K33 Research’s Vetle Lunde, Bitcoin’s seven-day volatility fell to its lowest level in over 18 months on April 30. This calm comes as BTC-USD staged a steady grind back above its 200-day EMA of roughly $85,000, ascending 11 percent over the past week before stalling near $95,181 on Wednesday. The subdued gyrations reflect a more seasoned investor base and could presage a sustained uptrend—traditionally, periods of low volatility precede significant directional moves once a catalyst appears.
Shrinking Exchange Balances Point to Reduced Sell-Side Pressure
Data from leading exchanges show Bitcoin deposits down sharply since mid-April, coinciding with the $7.2 billion options expiry on April 24. Lower on-chain inflows imply fewer coins queued for sale, strengthening the bid side as long-term holders lock tokens in cold storage. Historical instances of deposit declines ahead of major expiries have often foreshadowed continued price appreciation, underscoring the significance of dwindling exchange inventories in the current rally.
MicroStrategy’s Acquisition Spree and Strategic Bitcoin Reserve Deadline on Deck
MicroStrategy’s $21 billion at-the-market shelf has all but emptied, with just $128.7 million remaining after Monday’s purchase, and the company’s premium-priced stock signals robust investor appetite. K33 Research anticipates a fresh ATM announcement during Thursday’s Q1 earnings call, mirroring last quarter’s “21/21 plan,” which could inject fresh upside momentum into BTC-USD. Simultaneously, the US Treasury faces a May 5 deadline to report on the feasibility of a Strategic Bitcoin Reserve—a direct outcome of Trump’s March executive order. Any official communication, or even speculation, around this potential reserve could jolt the market and drive BTC beyond its current range.
Option Markets Bulge with Calls as Traders Brace for Breakout
Deribit-sourced figures show Bitcoin call open interest climbing alongside a modest rise in put contracts, a pattern that reflects participants hedging against or anticipating further upside. Total options open interest surpassed $10 billion ahead of week’s end, underscoring the market’s eagerness to maintain exposure. Call skew has flattened recently, suggesting traders are evenly divided on directional conviction but remain keen to own call structures in case BTC-USD stages another leg up to $100,000.
Key Chart Levels and Sentiment Gauges for BTC-USD
Bitcoin’s daily Relative Strength Index sits around 66—firmly bullish yet shy of the 70 overbought threshold—indicating there is still room for buyers to step in. Immediate resistance resides at $95,000 and $97,000, with the next ceiling at $100,000. On the downside, buyers are defending the $90,000 round number and the 50-day EMA near $88,500. The Fear & Greed Index reading above 60 shows prevailing optimism, though not at extremes seen in prior blow-off tops.
Synthesis and Rating: Navigating BTC-USD’s Current Terrain
The convergence of sustained spot ETF inflows, subdued volatility, shrinking exchange inventories, and strategic corporate accumulation frames a compelling bullish narrative for Bitcoin. However, dwindling futures open interest and cautious derivatives positioning hint at profit‐taking risks if a near-term catalyst stumbles. The pending MicroStrategy update and Strategic Reserve report represent potential volatility triggers. On balance, the data support a Buy stance on BTC-USD, with an eye on $100,000 as the next target; risk controls should guard against a drop back below $90,000 in the event of a catalyst fade.
