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Bitcoin (BTC) Blasts Toward $95K: Is $103K Next?

According to data from most exchanges, Bitcoin surged past $95,000 on Friday and early Sunday after a volatile ride in the past several weeks. Up more than 11% over the last seven days and with a market cap hovering just under $1.88 trillion, BTC has social media ablaze with shouts of $100K+ price predictions, even as some seasoned voices warn retail traders to tread carefully. $103K on the Cards Analyst Titan of Crypto ignited the bullish case, claiming a “bull flag” breakout is underway, and predicting a short-term move to $103,000 in a post on X. The asset’s recent price movement coincided with substantial accumulation by large investors. According to Santiment, wallets holding between 10 and 10,000 BTC have been aggressively adding to their positions, with Bitcoin advocate Kyle Chassé calling it “THE STRONGEST SIGNAL IN THE GAME!!!” Santiment also revealed that market sentiment has reached its most greed-dominated level since November 2024, when the flagship cryptocurrency last peaked before correcting 13%. The analytics platform suggested whales were ready to mop up any BTC offloaded by profit-seeking retail traders in this period, potentially giving the asset a leg up past $100,000: “If they sell here because they think we are seeing a top, whales would likely scoop up those coins and potentially push Bitcoin above $100K in the next 1-2 weeks.” Some prominent market watchers have also highlighted key technical developments, including Daan Crypto Trades, who observed Bitcoin’s resilience at key Fibonacci levels. “$BTC Strong bounce and continuation from the .382 Fibonacci Retracement level,” he stated, expressing his fondness for “higher timeframe trends.” Bull Cycle Incoming? Adding to the narrative, Michaël van de Poppe suggested the market might be entering a major bull cycle. He cited a chart by TechDev_52 showing that BTC has been in its longest bear run, lasting four years, and implied a reverse cycle was imminent. “We’re about to start the biggest bull cycle ever,” the crypto investor wrote. However, the Santiment team offered a more cautious perspective, noting that excessive crowd greed might lead to a local top formation, while more measured behavior could allow BTC to maintain its divergence from traditional markets like the S&P 500. With its dominance holding at 61.2% and institutional interest remaining strong, the cryptocurrency’s next move could set the tone for the rest of the digital asset market in the next week. The post Bitcoin (BTC) Blasts Toward $95K: Is $103K Next? appeared first on CryptoPotato . NewsBTC

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Bitcoin Continues To Flow Out Of Major Exchanges — Supply Squeeze Soon?

It was quite the coincidence that the cryptocurrency market jolted back to life after Easter Sunday, with Bitcoin leading the way with more than a double-digit gain. While the price of BTC continues to hold above the critical $94,000 level, the premier cryptocurrency seems to be losing some momentum. Unsurprisingly, investors appear to be increasingly confident in the promise of this recent rally, as significant amounts of BTC continue to make their way off major centralized exchanges over the past few days. Here’s how much investors have moved in the past few days. Over 35,000 BTC Move Out Of Coinbase And Binance In a Quicktake post on the CryptoQuant platform, crypto analyst João Wedson revealed that Binance, the world’s largest cryptocurrency exchange by trading volume, has seen increased activity over the past few days. The exchange netflow data shows that huge amounts of Bitcoin have been withdrawn from the platform in recent days. Related Reading: Bitcoin Sees 4th Dip in Funding Rates This Year — What Does This Mean For BTC? According to CryptoQuant data, a total of 27,750 BTC (worth $2.63 billion at current price) was moved out of Binance on Friday, April 25. This latest round of withdrawals represents the third-largest net outflow in the centralized exchange’s history. The movement of significant crypto amounts from exchanges, which offer services like selling to non-custodial wallets, suggests a potential shift in investor sentiment and strategy. Large exchange outflows often signal increased confidence of holders in the long-term potential of an asset. Wedson noted that the recent outflows do not guarantee a price rally for Bitcoin, but they do signal strong institutional activity, which is often a precursor for major volatility. Citing China’s crypto ban in 2021, the crypto analyst highlighted how massive exchange outflows didn’t prevent the dump. At the same time, Wedson mentioned that the continuous Bitcoin outflows over several days, like during the FTX collapse, preceded a price bottom and the eventual market recovery. Ultimately, the online pundit hinted at paying close attention to the overall trend of the exchange netflow rather than a single-day activity. Similarly, more than 7,000 BTC (worth approximately $66.5 million) have made their way out of the Coinbase exchange. According to the CryptoQuant analyst Amr Taha, this negative exchange netflow could be an indicator of increased institutional activity, as Coinbase is known as the primary crypto vendor for US-based institutions. Taha said: These large outflows typically suggest accumulation by institutions or large investors, potentially signaling bullish sentiment. The analyst outlined that if the dwindling exchange reserves correlate with an increased spot demand or ETF inflows, a supply squeeze could be on the horizon, potentially pushing the price to the upside. Bitcoin Price At A Glance As of this writing, the price of BTC sits just beneath $95,200, reflecting an almost 2% increase in the past 24 hours. Related Reading: Is The XRP Price Rally Over At $2.22? New Developments Suggest Major Pump Is Coming Featured image from iStock, chart from TradingView NewsBTC