Bitcoin (BTC) prices show new strength as they continue to be propelled high through major resistance levels. Price Action checks breakout patterns that reflect previous major gatherings.
Bitcoin prices are traded above $94,000, supported by strong spot purchases and increased institutional profits.
Bitcoin prices break important levels as volume and structure support bullish cases
Bitcoin price action has shown a series of higher lows and higher highs since the beginning of April. This indicates a steady rise in trading volume with each integration, indicating an increasing demand from participants from both retailers and institutions.
The hourly BTC price chart shows bullish trendlines connecting with support, with nearly $94,200. TradingView’s data confirms that Bitcoin is above a simple moving average of 100 hours and shows a clear strength.
Analysts should note that if Bitcoin clears the $95,500 resistance zone, their next goal could be $96,250, followed by $97,500 and $98,800.
Source: TradingView
The hourly MACD was gaining momentum in the bullish zone during pressing. Furthermore, the hourly RSI was above 50 levels. Short-term pullbacks remained shallow. The immediate support was $94,200, while the stronger support was $93,500.
Institutional buyers add bitcoin despite short-term risks
Major buyers have increased their Bitcoin exposure and further support for breakouts. The strategy led by Michael Saylor announced in April that it had purchased 15,355 BTC. The total cost was $1.42 billion, with an average price per Bitcoin of $92,737.
Saylor said on X: “As of April 28, 553,555 BTC was acquired at $68,459 per Bitcoin for around $379 billion.” The move has increased the strategy’s Bitcoin holdings by 3%, bringing the total holdings to over $50 billion.
$MSTR acquired 15,355 BTC at ~$92,737 per Bitcoin for ~$1.42 billion, achieving a BTC yield of 2025 YTD of 13.7%. https://t.co/5oos3udwlg
– Michael Saylor (@saylor) April 28, 2025
According to Strategy’s Form 8-K filing, its Bitcoin yield is 13.7% since the start of the year. The company aims to achieve its 15% Bitcoin yield target by 2025. Market Observer notes that the company’s stock, currently trading at $368.7, can continue to earn profits from Bitcoin’s momentum.
The risk of short-term reversal remains, but the quarterly bullish structure wins
Due to the FOMC meeting scheduled for May 7th, there have been some concerns and some uncertainty among some traders. Banking operations on past performance in the Bitcoin market can be seen to be traded in reverse near the date of the FOMC.
It happened because of a change in investors’ feelings. It has been explained by renowned analyst @Astronomer_Zero. He noted that even uptrends in FOMC lead to local retracements.
However, he emphasized that the current quarterly move is based on a higher time frame. These time frames are usually stronger than monthly inversion. He writes: “Quarterly movement is spot-driven, strong and outweighs short-term FOMC risks.”
$BTC data analysis and big long positions
Will $BTC be at the top at the beginning of May?
Well, the price of 95K has risen slightly from our big, long position entry (as shown on screen) a few days ago.
It seems the world is against us…pic.twitter.com/ay9n6e8txk
– Astronomer (@Astronomer_Zero) April 28, 2025
The market also sees stubborn, spot-driven movements, with negative funding rates and local pullbacks creating stronger bases at higher prices. The data shows that abrupt spot premium shift supports continuous upward pressure on Bitcoin.
Macro Environment supports the continued strength of Bitcoin Price
The macroeconomic environment further supports the growth of Bitcoin at a higher level. The expansion of global M2 money supply, increased institutional profits, and rarity theory have led to more people being invested in assets.
Colin shared with “the pump confirmed by the Global M2, Tethered Minance and Bitcoin Price Chart,” said Crypto. His analysis supports the view that Bitcoin prices could reach new, ever-highs in the coming months.
Geoff Kendrick of Standard Chartered predicted that Bitcoin prices could reach $120,000 in the second quarter. He added that if the current trend continues, he hopes Bitcoin will reach $200,000 by the end of 2025.
Meanwhile, long-term holders are refusing to sell to strength and tightening their supply by applying pressure to available liquidity. The bullish case of Bitcoin remains intact as there is a huge influx of Bitcoin-related ETFs and companies such as strategy continue to accumulate aggressively.
Market participants will watch the $95,500 Resistance Zone carefully. A successful breakout above this level could continue strong after $98,800. Immediate Support Bitcoin prices remain at $94,200 and $93,500, easing local retracement.