Bitcoin (BTC) price consolidates between $93k and $95.5k, as the upper border proves to be a hard nut shell

Bitcoin price has closed the past two weeks in a bullish outlook, after successfully breaking out of a falling wedge pattern.

The flagship coin has gradually gained bullish momentum, and is now on the cusp of recording the first bullish month since the second inauguration of U.S. President Donald Trump.

However, BTC price has been consolidating between $93k and $95.5k in the past seven days, as the upper border proves to be a hard nut shell.

Nevertheless, the fear of further crypto capitulation has significantly diminished as shown by BTC fear and greed index that surged to 56 percent, signaling greed, on April 30, 2025 during the mid-North American trading session.

Bitcoin Accumulation on the Rise

Bitcoin price has experienced bullish sentiment in the past few weeks, catalyzed by the rising demand from institutional investors and nation states.

According to market data from Glassnode, capital inflows into the crypto market surged from $1.5 billion to $15 billion in the past 10 days.

The U.S. spot BTC ETFs have recorded a net cash inflow of about 6,900 Bitcoins so far this week. According to glassnode’s BTC accumulation trend score, whale investors have been actively accumulating in anticipation of a bullish breakout ahead.

What Next?

From a technical analysis standpoint, BTC price has kickstarted a fresh bull rally towards the much anticipated parabolic rally ahead.

According to crypto analyst Ali Martinez, BTC price must consistently close above $95,870 to rally towards the next target of about $114,230.

However, a retrace below $93k will trigger a potential correction towards $88k in the coming weeks, before a liftoff towards its all-time high.