Bitcoin (BTC) Continues to Trade Below the $95,000 Mark as It Faces Technical Resistance

Bitcoin continues to trade below the $95,000 mark as it faces technical resistance, while broader developments in regulation, investment flows, and macroeconomic sentiment shape its outlook.

Bitcoin (BTC) price today is exhibiting technical resilience as it continues to trade below the $95,000 mark. The crypto behemoth is now approaching a key barrier at the 0.618 Fibonacci retracement level from the March swing low.

Bitcoin price displayed a typical inverse head and shoulders pattern on the technical charts, a formation that usually denotes a trend reversal and a bullish breakout.

Bitcoin price crossed above the 50-day extended moving average (EMA) and the 60-day simple moving average (MA). However, momentum indicators are showing signs of fatigue.

The Relative Strength Index (RSI) stands at 67.39, nearing the overbought threshold on the daily chart. Meanwhile, the Stochastic RSI on the daily chart is at extreme levels of 97.00 and 98.98.

If Bitcoin fails to secure a major close above $96,000 in the coming days, possible levels for a retracement include the 0.5 Fibonacci zone, estimated to be around $91,363. Further downside could bring Bitcoin towards the $90,829 level. Traders will be closely monitoring the RSI and Stochastic RSI for confirmation of a possible bearish crossover, which could signal near-term corrections.

In other developments, institutional interest in crypto is heating up. BTC and ETH ETFs saw their highest inflows in over two months, signaling renewed appetite among investors.

Several new ETF filings have emerged, expanding the market beyond Bitcoin and Ethereum to include Solana (SOL), Sui (SUI), Near (NEAR), and XRP. Also, the new pro-crypto SEC Chair is adamantly working to clarify crypto regulations.

Moreover, multiple ETFs are now being filed (for SOL, SUI, NEAR, XRP, etc.) as part of broader efforts to expand the market beyond BTC and ETH.

In regulatory news, the U.S. Securities and Exchange Commission (SEC) Chair is working to clarify the agency’s approach to digital assets. At the same time, banks are no longer required to report cryptocurrency activities.

On the state level, Arizona is set for a third hearing on April 28 for a proposal to create a Bitcoin State Backed Reserve (SBR). If approved, it would make Arizona the first U.S. state to formally include Bitcoin in its treasury.

A comparison of the movement of the Bitcoin futures with gold (XAUUSD) and silver (XAGUSD) shows that Bitcoin is behaving more and more like other traditional store-of-value assets.

As the markets started to open up in early 2025, it was seen that Bitcoin, especially gold and silver, had rather sharp declines; however, they showed signs of a great recovery from late March. As of the end of April, the current price of gold is about $2,380 per ounce, while silver is at $30.5.

The Billionaire Boodle news agency recently recognized Bitcoin as a ‘safe haven,’ thereby paving the way for its trend among traditional hedge assets. This suggests that macroeconomic risks are on the rising edge, and investors are diversifying their hedges.

Monthly returns for Bitcoin from 2019 to 2025 highlight its volatility. Even as the global stock market is headed for a minor positive growth of +13.67% in April 2025 after a bearish February at -17.39% and a marginal negative March at -2.30%, the stock markets leave no room for saying otherwise. The trend of the prior year continues to fall in May and June, and May 2021 especially recorded -35.3 while June 2022 recorded -37.28.