BTC Price Trades Close to $95k with an Expectation of $100k Retest Soon. Meanwhile, Norges Bank Investment Management Reported Q1 Loss of $40 Billion

In the past five days, Bitcoin price has soared nearly 14% and tagged $95.6k. Although BTC has paused its ascent, it is likely to hit $100k soon if the bullish momentum continues.

The price of Bitcoin (BTC) paused its ascent on Thursday after it tagged $95,600 in the past five days. The crypto is likely to hit the $100,000 psychological level soon if the current bullish momentum continues.

However, Norges Bank Investment Management, which manages the $1,800 billion Global Pension Fund, reported a staggering $40 billion loss in the first quarter.

Moreover, Eli Nagar, the CEO of Braiins Mining, recently highlighted the irony of the wealth fund being "unwilling to invest in Bitcoin due to its volatility." He further stated that the fund's technology exposure is "considered risky."

On the other hand, the fund invested heavily in “safe” tech equities. According to CNBC, the firms has invested 55% of its fund in United States, including tech giants like Nvidia (NASDAQ:NVDA), Alphabet (NASDAQ:GOOGL), Meta (NASDAQ:META), Amazon (NASDAQ:AMZN) and so on.

However, investors should note that the fund has indirect exposure to cryptocurrency markets, especially Bitcoin via companies Strategy (MicroStartegy (NASDAQ:MICRO)legate, Coinbase (NASDAQ:COIN), Metaplanet, and so on.

BTC Price Analysis: Is $100K Next For Bitcoin?

Bitcoin’s value today stands at $94,552 at the time of writing, closing Friday on a positive note. The four-hour chart showcases Bitcoin’s price escaping a previous value area, ranging from $81k to $88.4k. This uptrend has pushed BTC into the three-month consolidation area, spanning from $93k to $102.5k. There might be a sustained consolidation over the weekend amid Trump’s tariff pause.

The push into this value area indicates that the bulls are in control, but a closer inspection reveals they may be losing momentum. The Relative Strength Index (RSI) lies in the overbought zone and has generated lower highs, diverging with BTC price’s higher highs. This nonconformity is termed bearish divergence and is known to precede corrections. A similar divergence can be observed on the Awesome Oscillator (AO).

Nevertheless, Bitcoin price might not correct immediately and could forge another higher high while the RSI & AO form another lower high. This move will continue the bearish divergence and place BTC into a key reversal zone, extending from $97.1k to $98.1k.

Investors seeking to short can anticipate an opportunity here. In some cases, a volatility-fueled spike to $100k is also possible, so traders must proceed with caution in this area.

While the short-to-mid term timeframe presents a slightly bearish outlook, investors can expect a bullish Bitcoin price prediction with a sustained move to $102k followed by $108k if $98k to $100k is flipped.

Frequently Asked Questions (FAQs)

1. What is Bitcoin's current price?

2. Why did Norges Bank Investment Management report a $40 billion loss?

3. What is the outlook for Bitcoin's price?