Bitcoin Surges 11% to $94,767 on Institutional ETF Inflows

Bitcoin (BTC) has maintained a stable price around $94,767 following an 11% surge from recent lows. This surge was driven by significant institutional inflows into spot Bitcoin ETFs, with BlackRock’s IBIT ETF leading the way by absorbing over $240 million in a single day. Fidelity also contributed with a $108 million addition. These inflows have brought the cumulative flows into Bitcoin ETFs to over $41.2 billion, indicating a renewed wave of institutional confidence in the cryptocurrency market.

This aggressive buying spree coincided with Bitcoin’s price jump from $85,000 to nearly $94,250, sparking fresh forecasts of a potential breakout past the $100,000 mark. The momentum generated by ETF inflows, combined with reduced miner selling, has created a supply squeeze. Historically, such conditions have been catalysts for strong price action in the Bitcoin market.

Beyond Bitcoin, BlackRock’s expanding digital asset strategy reflects a broader shift in institutional sentiment. On April 24, BlackRock confirmed purchases of $240 million in Bitcoin and $54 million in Ethereum. CEO Larry Fink, who was previously skeptical of cryptocurrencies, now refers to Bitcoin as “digital gold” and sees Ethereum as the backbone for tokenized finance. Following this announcement, Ethereum surged 5.2% to $3,850, with trading volume jumping 120% in just an hour. This sharp move underscores the growing influence of institutional players in driving crypto market trends.

On the technical front, Bitcoin is approaching a critical resistance level at $95,380, where a long-term descending trendline intersects with horizontal supply. The 50-day Exponential Moving Average (EMA) at $87,270 remains a strong dynamic support, but the Moving Average Convergence Divergence (MACD) indicator is starting to plateau. This suggests that momentum could pause if the $95,380 resistance is not decisively broken. For new traders, this presents a “make-or-break” setup. A clean daily close above $95,380 could propel Bitcoin toward new all-time highs, while a rejection could trigger a correction toward the $88,620 support zone. Patience will be crucial, as real price discovery mode may only begin after breaching $95,380 with strong volume confirmation.

Investor momentum behind BTC Bull Token ($BTCBULL) remains strong, with the Ethereum-based project officially surpassing the $5 million mark in its ongoing presale. As of the latest update, $5.05 million has been raised out of a $5.74 million target, indicating rising urgency among buyers as the next price jump approaches. The current token price stands at $0.00248, offering a limited window before another repricing. BTCBULL continues to set itself apart from typical meme assets by focusing on sustainable utility. The project’s staking program offers an estimated 81% annual yield, complemented by Bitcoin-backed distribution rewards. Users retain full liquidity with the ability to unstake anytime, appealing to both yield hunters and investors seeking upside potential without giving up liquidity. With less than $683,000 left before the next price adjustment, BTCBULL’s presale is rapidly entering its final stages. Investors are securing positions before the project’s valuation steps higher, potentially rewarding early movers in the process.