Bitcoin (BTC) Consolidates at $95,045 Ahead of Potential Surge Beyond $100,000

Bitcoin (BTC) price is consolidating at $95,045 at the time of writing on Tuesday, following three consecutive weeks of gains. Although BTC was rejected at $95,758 on Friday, it remains in an uptrend.

As Bitcoin shows signs of a potential surge past $100,000, investors might turn to meme coins like Trump Official (TRUMP) and dogwifhat (WIF), which could yield higher profit margins.

Bitcoin price runs into critical resistance

Bitcoin’s price appears to be approaching the psychological $100,000 level, supported by surging spot Exchange Traded Funds (ETF) inflows. According to SoSoValue, spot BTC ETFs recorded a total net inflow of approximately $591 million on Monday, marking seven consecutive days of inflows.

Bitcoin ETF net inflows | Source: SoSoValue

The week ending April 25 recorded $3.06 billion in net inflows, signaling growing interest and investor confidence. Easing trade tensions between the United States (US) and China is another factor likely driving interest in riskier assets, such as Bitcoin and meme coins.

The Relative Strength Index (RSI) indicator, at 67.75, is close to overbought levels, highlighting robust bullish momentum. If Bitcoin breaches the overhead resistance at $96,000, the uptrend could accelerate towards $100,000.

Still, traders should be vigilant for a potential reversal if the RSI indicator crosses above 70 into overbought territory. The region between $92,000 and $93,000 has the potential to provide support and liquidity should the BTC price experience a decline.

BTC/USDT daily chart

Trump Official decouples from other meme coins

The Official Trump meme coin has surged 95% from its April 7 low of $7.14, now trading at $14.00. This follows a rejection from its monthly high of $16.44 on Saturday.

TRUMP’s position below the 100-day Exponential Moving Average (EMA) at $15.10 indicates waning bullish momentum, while the RSI indicator, decreasing at 64.77 after rebounding from an overbought level of 75, highlights increasing bearish pressure.

TRUMP/USDT daily chart

However, the meme coin is still above the 50-day EMA at $11.73, which is sloping upwards and suggests a potential pending reversal. Higher support, ideally around $14.00, would enable bulls to regroup and collect more liquidity ahead of another breakout attempt.

According to Santiment, profit redistribution into more speculative assets, such as meme coins, has begun. Over the last week, TRUMP has seen a surge in on-chain activity after the announcement of an exclusive dinner for the token’s top 220 holders at the Trump National Golf Club in Washington, D.C., on May 22.

Additionally, the top 25 holders will attend an exclusive VIP reception, with US President Donald Trump likely to be in attendance, followed by a White House tour.

As the dinner approaches, sentiment around the official Trump meme coin could improve significantly, making it one of the tokens to watch as Bitcoin price recovers.

Dogwifhat holds above the 50-day EMA

Dogwifhat, a meme coin in the Solana ecosystem, is gaining momentum after recovering over 100% from its all-time low of $0.30 on April 7 to trade at $0.61 at the time of writing.

Additionally, WIF remains above the 50-day EMA at $0.53, signaling a strong bullish structure and broader positive sentiment in the cryptocurrency market. Traders could seek a decisive move above the 100-day EMA at $0.78 to validate the uptrend, aiming for $1.00 (psychological resistance) and the 200-day EMA at $1.26.

WIF/USDT daily chart

Dogwifhat could soon post its first monthly positive returns, following a quarter of negative performance. According to data from CryptoRank, the meme coin’s April returns stand at 47% compared to -38.7% in January, -45% in February, and -33.1% in March. The potential turnaround in April could enable WIF to achieve overall positive monthly returns in the second quarter of the year.

Dogwifhat monthly returns | Source: CryptoRank

However, the RSI indicator at 65.76 and moving towards the midline of 50 indicates possible profit-taking, triggered when the momentum indicator reached overbought conditions of 73.48 on Saturday. If sell-side pressure increases further, Dogwifhat could extend the