The Bitcoin price fell 0.3% to $94,702 on April 30, 2025, after reaching a daily high of $95,443. Volume has declined significantly by 21% to $23 billion, but sentiment remains optimistic. Spot Bitcoin ETFs recorded eight consecutive days of net inflows, peaking on April 29 with a massive inflow of $172.8 million. Will the BTC price finally reach the $100,000 mark again?
Bitcoin ETF inflows rise parabolically
The ETF scene is booming: On April 29, BlackRock’s iShares Bitcoin Trust (IBIT) topped the list, recording inflows of $216.7 million. According to data from Crypto Crib, total inflows into Bitcoin ETFs yesterday amounted to $172.8 million, marking the eighth consecutive day of positive numbers.
Ethereum ETFs were also not left behind, gathering $18.1 million, marking the fourth consecutive day of inflows. Over the past two weeks, Bitcoin ETFs have seen cumulative inflows of $39.166 million, with BlackRock and Fidelity (FBTC) leading the way with $42.387 million and $11.772 million, respectively.
These inflows demonstrate that large institutional investors are hoarding Bitcoin like there’s no tomorrow. With this momentum, Bitcoin’s importance as a safe haven asset is gaining significant traction, especially amid geopolitical tensions and the excitement surrounding Trump’s 100-day presidential campaign.
Chart Analysis: BTC/USD on TradingView – It’s On!
Bitcoin is consolidating around $94,000-$95,000, showing resilience after a 10% surge earlier this week. The chart shows a tight range between $92,953 and $95,490, with the 50-day moving average (SMA) offering solid support around $92,000.
The Relative Strength Index (RSI) is around 66 and is not yet overbought, indicating some upside potential, while the Moving Average Convergence/Divergence (MACD) indicator shows a hidden bullish divergence with an uptrending signal line.
There’s some resistance around the current price zone, but another key resistance level is at $106,000, and a break above it could take BTC directly to $109,396, especially since CoinGlass’ liquidation heatmap shows relatively little to no cumulative short liquidations above $97,218. If these short positions are liquidated between $94,180 and $96,238, a rapid move higher could occur.
On the other hand, the biggest immediate support is at $92,710. If the Bitcoin price falls below this, the bears could try to push it down to $85,066. But given the current ETF inflows and on-chain data, the bulls have the upper hand for now.
What’s next for the Bitcoin price?
Bitcoin has tailwinds. With parabolic ETF inflows, institutions are fully on board, and Trump‘s crypto-friendly stance (such as his talk of strategic reserves) could be the icing on the cake. A definitive announcement of a Bitcoin reserve could trigger a parabolic rise to over $100,000. However, macroeconomic risks such as tariffs or budget cuts could limit the upside in the short term.
For now, the charts and on-chain data look good. If BTC breaks the $97,000 mark, it’ll head straight toward $100,000. Investors should keep an eye on ETF inflows, as they point to something big for the crypto space.
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