Investors are waiting for a clear breakout, amid two important events coming up: MicroStrategy’s first-quarter financial report and a deadline related to the Strategic Bitcoin Fund following President Trump’s executive order.
Institutional demand remains the main driver keeping the bull trend going. On Tuesday, U.S. spot ETFs recorded inflows of more than $172 million, continuing a streak of positive flows since April 17.
As for MicroStrategy, the company is said to be close to completing the use of $21 billion from its October 2024 stock offering. In that context, analysts expect them to soon announce a new offering to continue their BTC buying strategy, which could create more bullish momentum for this currency.
Executive Chairman Michael Saylor is said to remain determined to expand the company’s BTC holdings using continuous and aggressive capital injections.
The second event concerns the 60-day deadline in Mr. Trump’s executive order, which concerns the evaluation and establishment of the Strategic Bitcoin Fund.
Although the deadline on May 5 is approaching, there is still not much official information released, however, analysts believe that this development could have a big impact on the market when the information is clarified.
Technically, Bitcoin has yet to break above the strong resistance level of $95,000. If it closes above this level, BTC could rise to the $97,000 region, and if it continues to hold the bullish momentum, the psychological level of $100,000 could be tested.
The current RSI at 66 shows that the bullish momentum is still there, but not too hot. Conversely, if BTC fails to hold the $95,000 zone, the possibility of a correction to the support level around $90,000 remains.
Source: https://baonghean.vn/gia-bitcoin-hom-nay-1-5-2025-lien-tiep-di-ngang-10296308.html
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