With a surge in bullish momentum, Bitcoin breaks the $86,000 mark. Currently, the 24-hour high stands at $86,095 and is currently trading at $85,635. Over the past 24 hours, the biggest cryptocurrency in the market has surged nearly 2%.
This marks the bullish extension of 3.19% last night. With the 24-hour low at $81,188, the intraday candle reveals an intense lower price rejection. Will this propel the Bitcoin price to a price jump to $92,000 mark? Let’s find out.
Bitcoin Price Analysis
In the daily chat, the BTC price trend showcases a prevailing downfall, creating a resistance trendline. The downfall accounts for a pullback of nearly 25%, reaching the $78,000 mark.
Currently, the bulls are making another attempt to overcome the resistance trendline. Furthermore, the bulls also face the 200-day EMA line as a dynamic resistance.
With the lower price direction in the intraday candle, the underlying bullish support is clearly evident. Furthermore, it prolongs the positive trend in the MACD and signal lines with the resurgence of bullish histograms. Hence, the momentum indicator supports the possibility of a breakout rally.
However, due to the prevailing downfall, the 20- and 200-day exponential moving average lines have given a negative crossover. Furthermore, the declining trend in the 50- and 100-day EMA lines acts as dynamic resistance. These crucial dynamic resistances are priced at $87,754 and $89,334.
Bitcoin ETFs Fail To Register Inflow In Last Three Days
On April 1, the U.S. Bitcoin Spot ETF registered a daily total net inflow of -$157.64 million. Bitwise and Franklin recorded an inflow of $24.53 million and $7.39 million.
However, ARK and 21Shares recorded an outflow of $87.37 million and Fidelity at $85.35 million. Furthermore, Grayscale registered $10.07 million of outflow, followed by Vision3 at $6.76 million.
The rest of the ETFs maintained a net-zero flow. This marks the third consecutive day of outflows in the U.S. Ethereum Spot Market.
Public Companies Add Near 92k BTC in Q1 2025
In the first quarter of 2025, multiple public companies lined up to acquire Bitcoin. As per the balance sheets and the recent tweet by CryptoQuant, the public companies added 91,781 BTC.
Public companies added 91,781 BTC to their balance sheets in Q1 2025… yet Bitcoin fell from $94.4K to $82.5K.
Who’s buying? Why the drop? What’s next?
This thread breaks it down. Let’s dig in 🧵👇 pic.twitter.com/SnUY0vJ0sX
— CryptoQuant.com (@cryptoquant_com) April 2, 2025
However, despite the entry of public companies, the BTC price fell to 82.5k. The top names in the Bitcoin buying spree of public companies come from Tether, the issuer of USDT stablecoin, which acquired 8,888 BTC.
Strategy continues its Bitcoin accumulation trend, adding 81,785 BTC in the first quarter of 2025. Finally, multiple companies like The Blockchain company, Semler Scientific, and MetaPlanet added a large amount of Bitcoins to their holdings.
Beyond this, companies like Marathon Digital and GameStop are planning to acquire $2 billion and $1.3 billion worth of Bitcoin. However, despite the top companies planning to buy more Bitcoin, long-term holders and ETFs are witnessing an outflow.
The long-term holders sold 178 K BTC in the first quarter, while the US Bitcoin spot ETFs added $4.8 billion worth of outflow.
Will Bitcoin (BTC) Price Hit $100k?
As the broader market stabilizes, the supply pressure is gradually declining. Hence, with the entry of the top public companies buying the dip, the short-term recovery is likely to lead to a breakout rally.
Based on the price action analysis, the trendline breakout will test the immediate resistance at $92,118. The uptrend will likely test the critical resistances near the $100,000 mark and the $106,000 level.
On the flip side, the crucial support remains at the $80,000 mark, followed by the $76,722 horizontal level.
