Bitcoin (BTC) Price Prediction: Renewed Investor Optimism Could Send Bitcoin (BTC) to New All-Time Highs

Bitcoin's recent performance has renewed investor optimism, with the asset climbing 13% over the past month.

Bitcoin (BTC) has recently been making headlines for its impressive performance, having recovered 13% over the past month. While the flagship asset has yet to claim the $100,000 milestone, several key indicators suggest that a return to previous highs could be on the horizon.

As investor optimism continues to grow, one of the clearest signs is the sustained drop in exchange-held Bitcoin. When fewer coins are sitting on centralized platforms, it often reflects a shift toward long-term holding — typically a bullish signal.

Currently, only about 2.47 million BTC remain on exchanges, the lowest in years, hinting at large-scale accumulation. This trend has been ongoing throughout April, with exchange reserves steadily decreasing.

This coincides with sustained inflows into spot Bitcoin ETFs. Since early April, institutional players have been steadily increasing their positions, with only a brief pause on April 30, when $56 million worth of BTC was sold. Even so, that sell-off is minor compared to the $4.49 billion in net purchases over the same period.

However, there was a slight decrease in April’s total compared to March, when institutional investors collectively added $5.1 billion in BTC to their ETFs.

Despite this shift, it appears to be a natural adjustment in buying activity, considering the massive capital that has already flowed into Bitcoin ETFs this year.

According to Glassnode data, the total value of BTC held by these ETFs reached $34.3 billion by April 30, nearly double the $18.4 billion they held at the beginning of the year.

Furthermore, the MVRV (Market Value to Realized Value) ratio, a key indicator of Bitcoin valuation, currently sits at 2.1.

Historically, Bitcoin tends to approach cycle tops when this metric approaches 3.7. The current level of 2.1 suggests that there’s still considerable room for upside in Bitcoin’s market valuation before reaching overheated territory.

Finally, whale activity is also resurfacing. Analysis of average spot order sizes shows that large investors — those typically capable of making significant price moves — are returning to the market with larger buy orders.

This resurgence in whale activity signals their growing confidence, which is crucial for any sustained rally. High-net-worth players tend to accumulate during bear markets and exit during bull markets.

As they begin accumulating again after a period of inactivity during the cryptocurrency winter, it bodes well for further price gains.

With institutional inflows climbing, exchange reserves dropping, market valuation still below overheated levels, and whales back in accumulation mode, market dynamics appear to be setting the stage for a potential breakout above $100,000 as early as May.