The price of Bitcoin (BTC) has continued to decline since January, but the surge of $ 91,000 since April 22 has the potential of the first high brake out of the year and the new long -term rise.
After the BTC exceeded the previous lower height and $ 88,500, a high pattern occurred, but the actual factor in which the price is rich is to buy volume from various cohorts in the Bitcoin market.
The US Spot Bitcoin ETFS recorded a total net inflow on April 21 that it had not seen since January 30.
Along with the increase in the price of Bitcoin, the inflow of SPOT BTC points out the possibility of resurrection of institutional demand for Bitcoin, and the trend of ETFs can offset the sales pressure with an upper limit for the BTC price for several months.
However, the demand for retail investors (purchase volume between $ 0 to 10,000) was maintained at less than 0%, suggesting that low -dose buyers have not yet returned. Over the past year, these investors have been inferior behind the BTC price breakout, but if the amount of investors changes positively, the price momentum is strengthened.
Cryptoquant community manager Maartunn emphasized that the current rally is a leverage center rather than a center of spot volume. GlassNode Data also pointed out that Bitcoin Future Open Interest (OI) increased $ 2.4 billion within 36 hours.
In order to maintain a bitcoin price of more than $ 90,000, the current inconsistency between futures and retailers must be reduced.
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Bitcoin can get “70% to 80% here”.
In a long -term perspective, Dyor Crypto founder HITESH MALVIYA said that if the MVRV ratio for the next six weeks can be maintained, BTC can get 70% to 80%.
MVRV (realization value) ratio, a major on chain metrics, compares the market cap of Bitcoin and compares the value of coins. Historically, MVRVs of 3.7 or more are often signaled for overrelection and market tower, and the value of two people is ahead of strong price rally.
Bitcoin’s MVRV score was maintained at more than two points from October 2024 to February 2025, consistent with the highest high. Metric has fallen to less than 2 during the recent correction, but is currently trying to regain this key level.
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This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.