Bitcoin (BTC) price breaks the US$95,000 (Rp1.58 billion) level

Bitcoin (BTC) prices rose again, breaking through the US$95,000 (Rp1.58 billion) level on Tuesday, April 29.

The largest cryptocurrency in the world saw a seven-day gain of 8 percent and reached its highest point since last February.

Crypto's Magic says that this spike reflects the growing confidence of investors and mainstream adoption of Bitcoin.

Mainstream institutions are increasingly investing in crypto, and several countries are working on launching their own CBDCs.

Earlier, Trump's announcement of Trump's new tariff policy early in the month sparked market chaos and prompted massive sell-offs in stock markets and cryptocurrencies.

However, the market is starting to stabilize after Trump announced the suspension of most fares for 90 days, except for China. Since the announcement of the tariff break, Bitcoin has strengthened by about 14 percent.

On-chain data also provides further strength to the potential for a Bitcoin price spike.

According to CryptoQuant data, investors have withdrawn more than $4 billion from trading platforms since Trump's latest call for a cut in interest rates.

As a result, Bitcoin's total deposits on the exchange decreased from USD 237.8 billion on April 22 to USD 233.8 billion to date.

This phenomenon indicates that many investors prefer to secure their Bitcoins in private wallets, reducing the selling pressure in the market.

With Bitcoin supply continuing to shrink on the exchange and demand remaining high, Ajaib predicts that Bitcoin's prospects towards a psychological level of 100,000 US dollars (Rp1.67 billion) are still very open.