Bitcoin (BTC) price surges on ETF optimism and Saylor's $21B push

Bitcoin price rose 3.4% this week, trading at around $97,000 at the time of writing. According to CoinGecko data, Bitcoin price touched a high of $97,341, pushing its market cap above $2 trillion for the first time since early March.

The rally was fueled by multiple bullish catalysts that reinforced investor confidence in BTC’s mid-term trajectory.

Bitcoin price surges as 21Shares files for SUI ETF and Saylor pushes for more BTC in Q2 21Shares filed for a spot SUI ETF on Thursday, helping to restore optimism in the U.S. regulatory landscape. This came just days after the SEC postponed decisions on seven altcoin ETF applications.

The new SUI filing suggests that the delays are procedural and not signs of rejection, which is reassuring to markets.

If approved, the SUI ETF would provide a way for traders to gain exposure to Solana without directly buying the cryptocurrency. It is noteworthy that the SEC has already approved several futures ETFs but no spot crypto ETFs yet.

Meanwhile, macroeconomic data also played a role in the crypto price movements. Consumer price index (CPI) data showed that inflation rose slightly in April, but core inflation stalled. This signaled that the Federal Reserve might continue raising interest rates to cool the economy and bring inflation down to its 2% target.

In other news, Strategy unveiled its Q1 results, reporting a massive new investment plan and a net loss due to a decline in BTC price at quarter-end.

Despite reporting a Q1 2025 net loss of $4.2 billion due to a decrease in BTC price at quarter-end, Strategy announced an at-the-market (ATM) offering of up to $21 billion of its common stock to buy more Bitcoin.

The company currently holds over 553,000 BTC at an average cost of $68,459. It also announced an increase in its 2025 Bitcoin yield target from 15% to 25%, highlighting the firm’s commitment to maximizing returns for investors.

Moreover, Strategy highlighted an accounting uplift of $12.7 billion in retained earnings due to the switch to fair value accounting for its Bitcoin holdings. This shift is significant as it showcases the impact of Bitcoin's price performance on Strategy’s overall financial performance.

Significantly, Strategy’s report mentioned that over 70 public companies now hold Bitcoin on their balance sheets, demonstrating the broader institutional adoption of the cryptocurrency.

Overall, institutional momentum is building on several fronts: renewed ETF activity, fair value accounting for corporate holders, and continued capital inflows.

Bitcoin’s sharp rebound above the $96,500-$97,000 zone confirms this bullish bias. A weekly close above $97,000 could unlock the path to $105,000 in the near term, with some analysts projecting a move toward $145,000 by Q3 if macro tailwinds persist.

Bitcoin Price Forecast Today: BTC Targets $105,000 as RSI Signals Bullish ContinuationBitcoin price is currently trading at $97,089, up 0.62% on the day, and poised to extend its rally toward $105,000. Price has broken decisively above the $90,000 resistance zone, with strong bullish continuation confirmed by the clean daily candle structure and rising volume.

The 50-day and 200-day simple moving averages (SMAs), shown in green and red, have flattened out but remain below current price, signaling that BTC has reclaimed long-term trend support with conviction.Other Bitcoin price forecast signals also support this bullish thesis. The Relative Strength Index (RSI) at 70.49 has entered overbought territory, typically a warning sign, but in trend-confirming rallies like this one, it often reflects strong institutional interest rather than exhaustion. RSI continues to diverge positively from its 14-day moving average, currently at 65.08, echoing bullish signals.A move above $98,000 would open a clean path to $105,000, while support now lies at the $90,000 and $86,000 levels. A sudden break below these would invalidate the current bullish structure, although such a pullback appears unlikely given BTC price resilience above the 100-day SMA (blue) and low sell volume near resistance.

Frequently Asked Questions (FAQs)Why did Bitcoin price surge past $97,000?Bitcoin price faced selling pressure around the $90,000 zone but bounced back as bullish signals emerged. Rising consumer price index (CPI) showed that inflation was sticky, which could lead to the Federal Reserve continuing to raise interest rates