Bitcoin (BTC) Price Held Steady Above the Key Resistance Level at $94,000 This Week as the Recent Rally Stalled

Bitcoin price held steady above the key resistance level at $94,000 this week as the recent rally stalled. The coin has jumped by 26% from the lowest level this month and is hovering at its highest level since February 24.

Bitcoin price held steady above the key resistance level at $94,000 this week as the recent rally stalled. The coin has surged by 26% from the lowest level this month and is hovering at its highest level since February 24.

There are signs that Bitcoin demand is doing well this year. Last week, Cantor Fitzgerald, Tether, and Softbank created an alliance that will accumulate Bitcoins in the coming months. This is notable as more companies, such as Strategy, Semler Scientific, and MetaPlanet, are accumulating more Bitcoins.

Wall Street investors are buying more Bitcoins. Data by SoSoValue showed that spot Bitcoin ETFs added over $379 million in assets last Friday. They have been adding assets in the last six consecutive days, bringing the weekly gains to over $3 billion.

That was a significant increase from the $15 million added a week earlier.

All spot Bitcoin ETFs have been adding assets in the past few weeks. The iShares Bitcoin ETF (IBIT) has $56 billion, while Fidelity’s FBTC, Grayscale’s BTC, and Ark’s ARKB have over $5 billion.

This Historical Pattern Points to a 70% Litecoin Price Rally

The Bitcoin price surged as demand for safe havens increased. It has outperformed equities during the recent panic over tariffs and fears of Trump potentially firing Jerome Powell, the Federal Reserve Chair.

The Bitcoin surge is also unfolding as the global M2 money supply rises. The US has an M2 money supply of over $21 trillion, while China has over $42 trillion. Historical data shows that BTC price rises as the money supply increases.

Meanwhile, most crypto analysts on X are bullish on the BTC price. In a post, Reed Carson, a leading expert with nearly 20,000 followers, predicted it would surge to $120,000 by the July end.

$BTC perfectly retested its uptrend support and is now heading higher.ETF inflows are back to Q4 2024 levels while tariffs war seems to be fully priced in.I think $115K-$120K BTC by June/July seems highly likely.

Bitcoin Price Technical Analysis

The weekly chart shows that the BTC price bottomed at $74,660 earlier this month as the fear and greed index slipped. It rose to a high of $94,000 after forming a morning star candlestick pattern three weeks ago.

Bitcoin bounced off the 50-week Exponential Moving Average (EMA), a sign that bulls are in control. The Stochastic Oscillator has continued rising and has just crossed the neutral line.

Therefore, the coin will likely keep rising as bulls target the all-time high of $109,300, which is about 15% above the current level. This rally may happen in the coming weeks now that some of the top macro risks, like tariffs and Jerome Powell’s firing, have eased. This means that the surge to a record high will not happen this week.