Bitcoin Price Breakout Confirmed As Spot Market Defies Short Term Risks

Bitcoin (BTC) price is showing renewed strength as it continues to push higher through key resistance levels. The price action confirms a breakout pattern that mirrors previous major rallies.

Bitcoin price is trading above $94,000, supported by strong spot buying and rising institutional interest.

Bitcoin Price Breaks Key Levels as Volume and Structure Support Bullish Case

The Bitcoin price action has shown a series of higher lows and higher highs since the beginning of April. Trading volumes have risen steadily after each consolidation, indicating growing demand from both retail and institutional participants.

A connecting bullish trend line is visible with support near $94,200 on the hourly BTC price chart. Data from TradingView confirms that Bitcoin has remained above its 100-hourly simple moving average, showing clear strength.

Analysts note that if Bitcoin clears the $95,500 resistance zone, the next target could be $96,250, followed by $97,500 and $98,800.

Source: TradingView

The hourly MACD was gaining momentum in the bullish zone at press time. Moreover, the hourly RSI was above the 50 level. Short-term pullbacks remained shallow. The immediate support was at $94,200, and stronger support was at $93,500.

Institutional Buyers Add Bitcoin Despite Short-Term Risks

Major buyers have increased their Bitcoin exposure, further supporting the breakout. Strategy, led by Michael Saylor, announced the purchase of 15,355 BTC in April. The total cost was $1.42 billion, with an average price of $92,737 per Bitcoin.

Saylor confirmed on X, “As of April 28, we hodl 553,555 BTC acquired for approximately $37.90 billion at $68,459 per Bitcoin.” This move increased Strategy’s Bitcoin holdings by 3%, pushing the total value of its holdings to more than $50 billion.

$MSTR has acquired 15,355 BTC for ~$1.42 billion at ~$92,737 per bitcoin and has achieved BTC Yield of 13.7% YTD 2025. As of 4/27/2025, we hodl 553,555 $BTC acquired for ~$37.90 billion at ~$68,459 per bitcoin. https://t.co/5OOs3UdWLg

— Michael Saylor (@saylor) April 28, 2025

According to Strategy’s Form 8-K filing, its Bitcoin yield stands at 13.7% year-to-date. The company aims to reach a 15% Bitcoin yield target by 2025. Market observers note that the company’s stock, currently trading at $368.7, could continue to benefit from Bitcoin’s momentum.

Short-Term Reversal Risks Remain, But Quarterly Bullish Structure Prevails

There are some concerns due to the FOMC meeting scheduled on May 7, which has created some apprehensions among some traders. Banking on the past performance of the Bitcoin market, it is seen that the prices have traded reversely near the FOMC dates.

That occurred because of the change in the sentiment of investors. It has been explained by the renowned Analyst @astronomer_zero, who noted that FOMC events lead to local retracement, even on an uptrend.

However, he emphasized that the current quarterly move is based on higher time frames. Those time frames are typically more powerful than intra-month reversals. He wrote, “The quarterly move is spot-driven, powerful, and outweighs the short-term FOMC risks.”

$BTC Data analysis & our big long positions

Will $BTC top out around at the start of May?

Alright, price at 95k which is slightly up from our entry of our big long position we took a few days ago now (shown on the screen).

It seems as if the world is against us for this one,… pic.twitter.com/Ay9N6e8TXK

— Astronomer (@astronomer_zero) April 28, 2025

The market is also seeing stubborn spot-driven moves, with negative funding rates and local pullbacks creating stronger bases for higher prices. Data shows that sudden spot premium shifts have supported continued upward pressure on Bitcoin.

Macro Environment Supports Bitcoin Price’s Ongoing Strength

The macroeconomic environment further supports the growth of Bitcoin at a higher level. The global M2 money supply expansion, the rising institutional interest, and the scarcity theory have made more people invest in the asset.

Colin Talks Crypto shared, “Pump confirmed by Global M2, Tether dominance, and Bitcoin price chart TA.” His analysis supports the view that Bitcoin price could reach new all-time highs in the coming months.

Source: X

Standard Chartered’s Geoff Kendrick also predicted that Bitcoin price could hit $120,000 in the second quarter. He added that he expects Bitcoin to reach $200,000 by the end of 2025 if current trends continue.

Meanwhile, long-term holders are tightening supply by refusing to sell into strength, adding pressure on available liquidity. With large inflows into Bitcoin-associated ETFs and companies like Strategy continuing aggressive accumulation, Bitcoin’s bullish case remains intact.

Market participants will watch the $95,500 resistance zone closely. A successful breakout above this level could lead to strong continuation toward $98,800 and beyond. Immediate support Bitcoin price remains at $94,200 and $93,500, cushioning any local retracements.

Source