Bitcoin Price Analysis: BTC Consolidating Above $93,000 After 10% Rally
Bitcoin (BTC) has entered a consolidation phase after rallying almost 10% this week despite trading marginally lower during the ongoing session. The flagship cryptocurrency maintained its position above $90,000 despite facing substantial selling pressure, falling to a low of $91,678 before rebounding.
BTC is marginally up over the past 24 hours and trading around $93,743. It has registered an increase of almost 11% over the past week.
Bitcoin ETF Inflows Hit Four-Month Highs
Spot Bitcoin ETFs continued to attract interest this week as institutional interest supported the flagship cryptocurrency’s rally. According to data from SoSoValue, spot Bitcoin ETFs registered a total net inflow of $2.68 billion as of Thursday, the highest since mid-December, when Bitcoin surged past the $100,000 mark for the first time. BTC could rally further if inflows continue. Additionally, demand for Bitcoin from public companies remains strong, with Michael Saylor’s Strategy announcing the acquisition of 6,556 BTC this week for $555.8 million. Japanese investment firm Metaplanet also announced the purchase of 330 BTC for $28.2 million. The firm followed this up with another purchase of 145 BTC on Thursday, taking its total holdings past 5,000 BTC.
This buying activity is bullish for the flagship cryptocurrency, increasing demand and reducing circulation. If buying activity persists, Bitcoin could reclaim $100,000. However, analysts expect short-term price fluctuations to persist.
Paul Atkins Sworn In As SEC Chair
Paul Atkins was sworn in as the 34th Chairman of the United States Securities and Exchange Commission (SEC) this week. Atkins previously served as SEC Commissioner under the Bush administration. Atkins is known for his friendly approach to the digital asset industry, serving as the co-chair of the Token Alliance at the Digital Chamber of Commerce since 2017. He has advocated for clarity in crypto regulation and innovation-friendly policies. He has also been directly involved with the crypto industry.
The crypto industry has welcomed Atkins’ appointment due to the expectation of a friendlier and less punitive regulatory framework for digital assets. Atkins stated after he was sworn in,
“I am honored by the trust and confidence President Trump and the Senate have placed in me to lead the SEC. As I return to the SEC, I am pleased to join my fellow Commissioners and the agency’s dedicated professionals to advance its mission to facilitate capital formation; maintain fair, orderly, and efficient markets and protect investors. Together we will work to ensure that the U.S. is the best and most secure place in the world to invest and do business.”
Robert Kiyosaki Makes Yet Another Bitcoin Prediction
Rich Dad Poor Dad author Robert Kiyosaki has warned of deepening financial instability in the US and urged individuals to take control of their economic futures by making strategic investments in assets like Bitcoin. The author predicted that a “Great Depression” is coming and bet on Bitcoin, stating it would rise to $200,000 this year and soar to $1 million by 2035.
“Makes me sad: In 2025, credit card debt is at all-time highs. U.S. debt is at an all-time high. Unemployment is rising. 401ks are losing. Pensions are being stolen. The US may be heading for a Great Depression.”
The author expressed concern for those ignoring his warnings but reiterated they could build wealth if they took immediate and decisive action. Kiyosaki advocates investing in what he describes as the “three pillars” of protection: Gold, Silver, and Bitcoin. The author recently discussed Silver, stating,
“I am buying more silver eagles today. The good news is Silver is the biggest investment bargain today. Gold has already hit all-time highs. I have plenty of Bitcoin, and Silver is still 50% below its all-time high today, about $35. I believe Silver will 2x to $70 this year.”
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) is consolidating above $93,000 after registering a substantial rally this week that saw the price jump over 10%. The rally was fueled by market developments, Trump’s climbdown in the trade war against China, and clarity about Federal Reserve Chair Jerome Powell’s tenure. Rising spot Bitcoin ETF inflows also buoyed investor sentiment. The flagship cryptocurrency will target $95,000, with analysts optimistic about short-term gains. An analyst from QCP Capital stated,
“With BTC holding firmly above $90K, sentiment is becoming increasingly optimistic. Call options at $95K strikes for end-April and end-May expiries have dominated flow, pointing to a tactical appetite for further upside. Still, with macro risks temporarily subdued and trade tensions cooling, BTC is likely to consolidate in a narrow $90K–$94.5K range while awaiting a decisive push toward the elusive $100K mark.”
BTC has registered substantial movement this week after remaining relatively muted the week prior. The price dropped over 1% on Tuesday (April 15) before recovering on Wednesday, registering a marginal increase and settling at $84,034. BTC continued to push higher on Thursday, rising 1.10% to cross the 50-day SMA and settle at $84,956. Despite the positive sentiment, BTC registered a marginal decline on Friday and settled at $84,518. Price action turned positive over the weekend as BTC rose 0.61% on Saturday and 0.22% on Sunday to reclaim $85,000 and settle at $85,224.
Source: TradingView
BTC started the current week on a bullish note, rising almost 3% to surge past $87,000 and settle at $87,508. Bullish sentiment intensified on Tuesday as BTC rallied nearly 7% to reclaim $90,000 and settle at $93,380. The price encountered volatility on Wednesday thanks to selling pressure at higher levels. However, BTC registered a marginal increase despite selling pressure and settled at $93,744. BTC fell to an intraday low of $91,678 Thursday as sellers attempted to drive it below $90,000. However, bulls did not cede ground, and the price rebounded to register a marginal increase and settle above $94,000. The current session sees BTC up almost 1%, trading above $94,000, recovering from an intraday low of $92,901. With BTC on the verge of claiming the $95,000 level, a push to $100,000 could be on the horizon for the flagship cryptocurrency.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Investment Disclaimer
