- BTC holds $94.5K support amid sell pressure near $96K, signaling mid-term holder strength.
- ETF outflows pressure price, but whales and BlackRock continue large-scale accumulation.
- Traders watch for a breakout above $96K or a drop below $93.2K toward $83.4K support zone.
Bitcoin continues to consolidate just below the $96,000 resistance zone as traders assess whether the asset can maintain support above its Realized Warm Supply at $94,550. This level is now being watched closely as a potential signal of mid-term holder strength during the current price pause.
Resistance Stalls Momentum While Volume Remains Modest
Bitcoin faced repeated rejection at the $95,500–$96,000 range this week, indicating a strong sell-wall in that zone. As of May 1, 2025, BTC was trading around $95,187, recovering from a dip to $93,438 earlier on April 30. The Relative Strength Index (RSI) remains elevated near 66, while the Moving Average Convergence Divergence (MACD) still shows a bullish crossover.
According to TradingView data, BTC continues to trade within the upper Keltner Channel, though the upper band at $95,414 remains a strong barrier. A close above this level could open up the $98,000–$100,000 range. However, a rejection may push the price back toward the midline support near $90,500.
Spot Bitcoin ETF outflows on April 30 added pressure to the market, with $56.23 million withdrawn across major funds. Fidelity’s FBTC and Ark Invest’s ARKB were the largest contributors, losing $137.49 million and $130.79 million, respectively.
Institutional Accumulation and Blockchain News Support Price Base
Despite the outflows, accumulation continues among large holders. According to data from LookOnChain, BlackRock’s IBIT acquired over 25,430 BTC last week, worth around $2.4 billion. Additionally, the Bitcoin Accumulation Trend Score is nearing 1, suggesting that larger holders are actively buying.
According to an analysis prepared by Ali Martinez, whales acquired over 43,100 BTC between April 13 and 27. This buying activity has helped BTC hold above the Realized Warm Supply level of $94,550, which often reflects support from mid-term holders.
Market participants are now watching for a decisive move above $96,000, while a breakdown below $93,198 could bring $83,444 into view.
