TLDR
- Bitcoin trading around $94,359, reaching as high as $95,436
- Standard Chartered forecasts Bitcoin could hit $120K by Q2 2025
- US spot Bitcoin ETFs saw $591 million in net inflows, extending to 7 consecutive days
- Strategy (formerly MicroStrategy) purchased 15,355 Bitcoin for $1.42 billion
- US Commerce Secretary Lutnick signals more crypto-friendly regulations under Trump administration
Bitcoin is trading steadily near the $95,000 mark as the cryptocurrency continues to gain momentum in the market. The world’s largest digital currency is showing resilience after a week of positive movement, supported by several key factors that are driving investor confidence.
At the time of writing, Bitcoin is trading at $94,359 after briefly rising above $95,000 earlier on Monday. This price action comes as global bank Standard Chartered has released a forecast predicting that Bitcoin could reach around $120,000 by the second quarter of this year.
The cryptocurrency has been maintaining key support between $93,220 and $94,244, which analysts view as an important technical indicator. If Bitcoin breaks through the resistance level of $95,450, experts suggest it could push toward new highs.
Several factors are contributing to Bitcoin’s current stability and potential for growth. The upcoming U.S. Federal Reserve meeting in May and ongoing inflation concerns are being closely watched by market participants.
ETF Inflows Boost Market Confidence
A major driver behind Bitcoin’s price stability has been the consistent inflow of funds into US spot Bitcoin ETFs. These investment vehicles recorded $591.3 million in net inflows on Monday, marking their seventh consecutive day of positive flows.
BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, was the standout performer, drawing in $970.9 million in net inflows. Other ETFs like Ark and 21Shares’ ARKB, Fidelity’s FBTC, Grayscale’s GBTC, Bitwise’s BITB and VanEck’s HODL saw outflows.
The total trading volume across the 12 ETFs was $2.4 billion on Monday, down from $3.3 billion on Friday. Cumulatively, these ETFs have seen net inflows reach $39.02 billion, the highest level since February 24.
Last week’s ETF performance was particularly impressive, with spot Bitcoin ETFs recording $3 billion in weekly inflows, marking the highest such value since November 2024.
The price action in the Bitcoin market has been described as “choppy” in recent days, with movements bouncing between key levels. Despite this volatility, major support levels continue to hold, giving many analysts reason to believe in possible upward movement.
Corporate Investment and Regulatory Outlook
Strategy (formerly known as MicroStrategy) disclosed a substantial purchase of 15,355 Bitcoin for $1.42 billion between April 21 and April 27. This acquisition brings Strategy’s total Bitcoin holdings to 553,555 coins, cementing its position as the largest corporate Bitcoin holder.
The company has largely funded these purchases through equity and debt issuances, and has seen impressive share gains as investors view it as a vehicle for Bitcoin exposure. Strategy’s shares have outpaced Bitcoin so far in 2025, up 23% compared to Bitcoin’s near 1% rise.
On the regulatory front, U.S. Commerce Secretary Howard Lutnick stated in a recent interview that the Trump administration is working on more crypto-friendly regulations. Lutnick mentioned that Bitcoin miners could benefit from a recently unveiled investment accelerator by the Commerce Department.
The Commerce Secretary also expressed his view of Bitcoin as a commodity, similar to gold, and stated he will encourage government agencies to regard the cryptocurrency in the same way.
These comments have raised hopes for a more favorable regulatory environment under the Trump administration, after earlier plans for a Bitcoin national reserve failed to generate much enthusiasm.
While Bitcoin shows strength, other cryptocurrencies have shown mixed performance. Ether traded at $1,793.96, showing little reaction to a project update from the Ethereum Foundation. XRP, Cardano, Solana, and Dogecoin all showed slight declines.
Bitcoin’s next major price target is around $96,275, according to crypto analysts. With continued ETF inflows and corporate interest, many market observers are watching closely to see if Bitcoin can break the $100,000 barrier in the coming weeks.
