- Bitcoin targets $102K after 27% rally cools off
- ETFs see $1B inflow as BTC eyes breakout zone
- Metaplanet hits 5K BTC, eyes 10K by 2025 end
Bitcoin is currently trading around $92,500 after reaching a seven-week high of $94,696 earlier this week. The pullback comes after a 27% rally over two weeks, with traders locking in profits. Market attention now turns to a crucial resistance zone between $96,200 and $102,100, which some analysts say could define the next phase of the trend.
Consolidation After Short Squeeze and ETF Inflows
According to analysis prepared by 10x Research, Bitcoin is consolidating below the $95,000 resistance level, a key area tested in March. While short-term momentum has cooled, futures data and spot market behavior suggest a reset rather than a reversal.
The recent price jump caused more than $635 million in liquidations, mostly from short positions, sparking a sharp move upward as traders were forced to exit.Despite the dip, institutional inflows remain strong.
Nearly $1 billion flowed into US Bitcoin ETFs on April 22, marking a major increase in exposure from large investors. This demand contributed to Bitcoin briefly ranking as the fifth-largest global asset by market capitalization.
Long-Term Accumulation and Technical Outlook
On the corporate side, Metaplanet announced another Bitcoin acquisition, pushing its holdings to over 5,000 BTC. The company aims to double that figure by the end of 2025 under its structured “21 Million Plan.” This aligns with a broader trend of long-term accumulation by institutional players despite short-term market uncertainty.
From a technical view, Bitcoin is approaching the lower bound of the projected target zone. An observation by analyst TED suggests that an inverse head and shoulders pattern may lead to a move toward $102,000 by June.
However, rejection from the $95,000 level could delay this, with support seen around $91,700.Traders are now closely monitoring the $96,200–$102,100 zone as the next breakout target in Bitcoin’s ongoing trend.
