Bitcoin Price Prediction – Road to $100K Clearer for BTC as Bears Fail at Critical Level

Highlights:

• Bitcoin shows underlying strength as bulls hold the price above $94,207 resistance.
• A rally off $94,207 could push Bitcoin to $100k in the short term
• Rising Bitcoin demand through ETFs could trigger a rally

Bitcoin has remained relatively unchanged over the last 24 hours. At press time, it was trading at $94,989.42, down very slightly by 0.07%, suggesting consolidation at this level. Bitcoin’s trading volume also declined significantly, currently sitting at $25.43 billion, down 18.77%. This shows that even with subdued activity, holders are not offloading their Bitcoins. Market fundamentals are strongly supportive of BTC, even with low trading activity.

BlackRock ETF Hits Close to $1 Billion in Inflows

Sustained ETF inflows remain a primary factor supporting long-term confidence. On April 28, BlackRock’s iShares Bitcoin Trust (IBIT) ETF spearheaded the charge with a purchase of Bitcoin worth close to $1 billion. This marked the second-largest inflow to the ETF on a single day, only surpassed by the $1.12 billion bought on November 7, 2024.

Yesterday, BlackRock bought nearly $1B worth of Bitcoin through its ETF.

The second-largest daily inflow since launch in January.

Demand is coming back — fast.
Don’t miss the train this time. pic.twitter.com/M3dZtgof45

— Thomas Kralow (@TKralow) April 29, 2025

The purchase by IBIT of $970 million sent total net inflows for Bitcoin spot ETFs in the United States over $590 million for the day, even as other ARKETs like ARK Invest’s ARKB suffered sizable outflows, including a $226 million retreat. This discrepancy illustrates BlackRock’s extreme market dominance and the confidence markets have in its Bitcoin strategy. 

Analysts argue that this institutional commitment provides ‘structural support’ for Bitcoin, alleviating its volatility and aiding in price anchoring amidst the prevailing reluctance among retailers.

Hopes of a Rate Cut Fuel Bullish Narrative for Bitcoin

Bitcoin’s potential rally is also supported by speculation that the U.S. Federal Reserve will cut interest rates. The March JOLTS report showed the number of job openings fell sharply from 7.57 million in February to 7.19 million, which is also lower than the expected 7.48 million. A slack in the labor market tends to improve the chances of a rate cut, often injecting additional money into circulation, which increases the demand for riskier assets such as Bitcoin.

JOLTS job openings fell to 7192k in March, below expectations, while the ratio of job openings to those unemployed dropped to 1.0, matching its 4-year low. pic.twitter.com/DSkSOphugG

— Kathy Jones (@KathyJones) April 29, 2025

Fidelity Predicts BTC is Entering Optimism Zone

Further bolstering the bullish case is Fidelity Digital Assets’ outlook, which recently changed to an “optimistic” zone. The firm pointed out that under the “Bitcoin Yardstick,” Bitcoin is likely undervalued. This yardstick uses the market capitalization and hash rate of Bitcoin to form a ratio. Lower ratios suggest that Bitcoin is relatively inexpensive for the security provided by the network.

🚀 Bitcoin ready to send?

Weak U.S. jobs data (7.19M openings vs. 7.48M expected) fuels hopes for Fed rate cuts

Lower rates weaken the dollar, boosting risk assets like $BTC

Fidelity says Bitcoin’s undervalued at $95K, a cooled off Yard-stick supports this statement

BULLISH pic.twitter.com/cYxRZfOybs

— Lennaert (@LennaertBTC) April 30, 2025

Fidelity suggests that Bitcoin’s undervaluation is Spartan in nature and part of the “acceleration phase,” where Bitcoin is bound to rally to set highs previously. They note, however, that the rapid climb could end in a scenario termed “blow-off top,” where price surges become toxic and unsustainably reliant on hype.

Investors Show Increased Propensity to Hold Bitcoin Long-Term

An investing shift also indicates support for an accumulation trend over a longer time frame. The illiquid Bitcoin supply percentage increased from 61.50% to 63.49%, while the liquid supply contracted by 4%. This change indicates holders are locking more of their assets, reducing supply and creating conditions for upward price support.

The amount of BTC on exchanges is now at 2019 levels — the lowest in the past 5–6 years.

Bitcoin’s illiquidity is off the charts.

Supply is extremely scarce, while demand is exploding — with the biggest companies in the world, ETFs, and institutions buying relentlessly.… pic.twitter.com/ooBTjl6I8I

— Lau (@lourdesanchezok) April 25, 2025

At this moment, institutional adoption goes further than ETFs. Public corporations are becoming increasingly active purchasers of Bitcoin using company balance sheets, further draining liquidity from exchanges. Fidelity estimates that this trend will accelerate sooner rather than later, adding yet another layer of structural support for the asset.

One of the most aggressive corporate accumulators of Bitcoin has been Michael Saylor’s Strategy, which now holds 553,555 BTC worth approximately $52.48 billion. Industry figures such as Syz Capital partner Richard Byworth are encouraging Strategy to adopt even more aggressive approaches.

NEW: Michael Saylor's Strategy acquires 15,355 Bitcoin for $1.42 billion at $92,737 per coin.

They now hold 553,555 BTC acquired for $37.90 billion. pic.twitter.com/VvLU6wJGSH

— BITCOIN MAXI (@zeljopazin) April 28, 2025

Technical Analysis – BTC Bulls Gain Control as Price Holds Above Resistance

Bitcoin bulls are pushing the price higher after bears failed to push the price down through the $94,207 resistance on April 29. This is indicative of rising bullish sentiment in Bitcoin. 

If bulls remain strong, Bitcoin’s next stop could be at $100k. With multiple underlying demand drivers, even a failure by bulls is likely to lead to consolidation, rather than a breakdown through the $94,207 price level.

Recap

As BTC’s supply contracts, investor confidence increases, and potential interest rate cuts loom, market observers suggest an impending major shift. In the short term, investors anticipate testing the $100k mark, which could set the stage for a rally to achieve new highs.