Bitcoin (BTC) Bulls Target $100,000 Resistance as BNB Prepares to Double Down from Current Price by 2028

Bitcoin bulls are upping the pressure on bears to relinquish control above the key $98,000-$99,000 band ahead of a potential move to $100,000, according to technical analysis from Benzinga.

After rallying from support at $94,000 last Thursday to touch $98,000, bears regained the upper hand, dropping King Crypto to a low of $93,345 on Tuesday but failing to break the back of support. After news of China-U.S. trade talks emerged, bulls were emboldened, pushing BTC to a high of $97,775 early on Wednesday, once again failing to overcome resistance.

Bitcoin is now up nearly 30% from the April low of $74,400, sparking a revival of the ‘digital gold narrative.’

“In April, Bitcoin joined the gold run, increasing correlation for the first time in months,” noted trading resource The Kobeissi Letter. “Between April 7th and April 21st, gold surged +15% along with +12% in Bitcoin. The flight to decentralized and inflation-protected assets is strong. Keep watching this trend.”

This outlook aligns with the popular “first gold, then Bitcoin” narrative many analysts have highlighted.

Support for an extended rally can be found in the Macro Chain Index (MCI), a composite of onchain and macroeconomic metrics, which flashed a buy signal for the first time since 2022.

History shows that when the Relative Strength Index (RSI) crosses over the MCI, as it did in April, a significant rally tends to follow. When combined with rising futures open interest and favorable funding rates, the MCI suggests Bitcoin could break $100,000 over the coming few weeks.

At the time of writing, BTC trades at $96,430, an increase of 1.65% on the 7-day chart.

BNB Joins The ETF Filing Party

Most altcoins in the top 20 lost value over the past seven days, with BNB, the native token of Binance’s BNB Chain, being one of the few exceptions.

Along with comments from Binance co-founder Changpeng "CZ" Zhao regarding his proposal to the government of Kyrgyzstan that they include Bitcoin and BNB as the first assets in the country’s national crypto reserve, the token also got a boost from its first exchange-traded fund (ETF) filing in the U.S.

Earlier this week, asset manager VanEck (NYSE:VNQI) has asked US regulators for permission to list an ETF holding BNB, according to a regulatory filing. The filing specifies that the offering is designed to accumulate spot BNB tokens and “may, from time to time, stake a portion of the assets through one or more trusted staking providers.”

The language related to staking is especially notable, as all references to staking had to be removed from all spot Ether ETF products, though it could potentially be allowed in the future thanks to the softening regulatory stance proffered by the Trump administration.

Another asset manager, Standard Chartered (NYSE:STAN) recently put out a research note to clients suggesting that BNB’s price could more than double this year due to mounting tailwinds – putting it on track to rally from $600 currently to $1,275 by the end of 2025. The firm predicted its price would then more than double again from that point, reaching $2,775 in 2028.

“BNB has traded almost exactly in line with an unweighted basket of Bitcoin and Ethereum since May 2021 in terms of both returns and volatility,” Standard Chartered analyst Geoff Kendrick wrote. “We expect this relationship to continue to hold, driving BNB’s price from around USD 600 currently to USD 2,775 by end-2028.”

At the time of writing, BNB trades at nearly $604 per coin, for a fully diluted value (FDV) of approximately $85.14 billion, according to data from CoinMarketCap.