Bitcoin is trading at $94,716.98 and is down slightly by 0.17%. Volumes are down also, at $26.88 billion, down by 14.70%. On a 7-period look, we see a gain of 1.78%, but hourly levels are resisting excitement. Current close is just below two critical SMAs: the 25-period SMA at $94,797.15 and the 50-period SMA at $94,588.09.
RSI at 47.59 is speaking softly of neutrality. Neutral is neither hot nor cold. While that’s happening, MACD at -25.64 is sending a signal of caution. An ADX of 21.77 indicates that the trend is showing some muscle, just not a lot of it. Falling trading volume below the mean has most sitting on the sidelines. Key points to watch? Resistance at around $95,630 and support at $92,800.
Bitcoin jumps to $95K after big inflow news
Institutional giants are now writing the next chapter. BlackRock’s iShares Bitcoin Trust saw $1 billion flow in on April 29. That’s the largest daily inflow since its January debut. Bitcoin briefly touched $95,400 on the news, setting the tone for a possible breakout.
This isn’t just a spike. Analysts say this shows deepening trust in Bitcoin as a hedge asset. Standard Chartered’s Geoff Kendrick reaffirmed his $120,000 forecast for Q2 2025. With global portfolios now opening to Bitcoin, inflows could gain momentum. This isn’t hype, it’s long-term positioning.
Bitcoin rises as job openings drop
The macro backdrop is helping Bitcoin’s case. U.S. job openings dropped to 7.2 million, well below expectations. It’s at its lowest since January 2021. These cracks in the economy could lead the Fed to ease rates, boosting assets like Bitcoin.
BTC thrives on liquidity. And weak labor data often triggers money printing. That could push Bitcoin toward Kendrick’s $120K target. With $94K already in sight, a breakout to $98,500 isn’t far. RSI at 65.59 backs this move, and the upper Bollinger Band caps resistance at $98,554. If inflows stay strong, a fresh all-time high may be coming soon.
