- Bitcoin rebounds 25% from March lows, reclaiming $93K as technicals flip bullish and strong support forms above $88,678.9.
- 87.3% of BTC supply is now in profit, reflecting rising holder confidence and aligning with historical bullish continuation patterns.
- ARK Invest forecasts Bitcoin hitting up to $2.4M by 2030, citing institutional growth, digital gold narrative, and global adoption.
Bitcoin is showing renewed strength after reclaiming the $93,000 level, signaling a sharp rebound from its March 2025 lows. According to TradingView data, the asset rallied nearly 25% from the $74,662.5 bottom seen last month. This surge followed a breakout above a descending trendline that had capped prices since January. At press time, Bitcoin trades at $93,669.9, just below its intraday high of $94,433.3.
The breakout marks a shift from bearish to bullish sentiment. Bitcoin’s multi-month cycle began in October 2024 with accumulation near $64,000. By January 2025, the price peaked around $110,000 before entering a correction phase. The downtrend, highlighted by consecutive lower highs, continued into March. However, April reversed the narrative. Strong buying pressure lifted Bitcoin above $88,678.9—now acting as support. Consequently, technical momentum favors upside continuation.
87.3% of BTC Supply in Profit
Besides price action, on-chain metrics support a bullish case. According to Glassnode, 87.3% of the total amount of Bitcoin in circulation is currently profitable. Compared to the earlier 82% number, this represents a significant gain. Hence, most BTC holders sit in positive territory, reflecting rising confidence across the market. Additionally, this ratio often aligns with bullish continuation phases.
Moreover, historical patterns show that when a large portion of the supply remains profitable, long-term holders resist selling. This behavior reduces the available supply, often triggering price spikes. Hence, the current metric offers bullish implications moving into May.
ARK Invest Forecasts Bitcoin at $2.4M by 2030
Meanwhile, ARK Invest has released updated long-term projections, further boosting optimism. The firm presents three price targets for Bitcoin by 2030: $500,000 (bear), $1.2 million (base), and $2.4 million (bull). Each scenario models Bitcoin’s potential based on compound annual growth rates between 32% and 72%.
Institutional investment and digital gold narratives remain dominant across all cases. The bull case includes additional layers like corporate treasuries and on-chain financial services. Moreover, nation-state and emerging market demand also support ARK’s projections. Hence, the broader adoption thesis strengthens Bitcoin’s long-term outlook.
