BitcoinBTCThe price of ) opened the week strongly, rising to an all-time high price of $88,804, which analysts lauded. They identified the price range between $90,000.00 and $92,000.00 as the price target to be reached in the short run.
After US President Donald Trump claimed that his April 2, 2019 speech would be held on the 24th, the markets gained momentum. “tariff number” The announcement may be less pronounced than anticipated after microchips and cars were taken off the list.
Ben Yorke was the vice-president of WOO’s ecosystem. “The White House’s decision to walk back the threat of broad tariffs and to deploy a more targeted approach suggests Trump is wary of an economic backlash.”
Market response: tariff news As can be seen by the rise in Bitcoin futures, the assumption being that the traders have used leverage in order to establish new positions on margin.
BTC/USDT 1-hour chart. Source: MacroCRG / X
The return of the Coinbase Premium — a measure of the percentage difference between BTC price at Coinbase Pro and Binance — and a 7th consecutive day of spot BTC ETF inflows are also signs that spot demand is returning The market could be showing signs of improvement as the last couple of weeks’ price movement of Bitcoin was characterized by the selling of perpetual futures and their use to keep the price within its current range.
Bitcoin Coinbase Premium Index. Source: CryptoQuant
SoSoValue’s data indicates that US Bitcoin ETF net flow is $84,17 million.
Total spot Bitcoin ETF net inflow. Source: SoSoValue
Are we headed for a rally of $100K?
Although the return to Coinbase’s premium, and positive net flows into spot BTC ETFs indicate an improving mood, there is still no answer to whether or not the current bullish energy has the power to propel Bitcoin to $100,000 again.
Lingling Jiang is a partner of DWF Labs. “We’re witnessing the alignment of both structural and narrative factors driving this upward trend of the movement of Bitcoin.”
Jiang, Cointelegraph.
“At the micro level, we can see a pattern: the resurgence of ETF inflows, the expanding stablecoin market, and breakout patterns across alternative cryptocurrencies collectively signal confidence and perhaps even renewed institutional participation. While market liquidity is strengthening, we notice that volatility remains subdued, and onchain metrics reveal long-term investors accumulating rather than divesting.”
Related: Bitcoin sets sights on ‘spoofy’ $90K resistance in new BTC price boost
Technically, Bitcoin is still trading below the price range which defined its action between November 2024 and February 2025. Although the price remains above the moving averages of 20 days and 200 days, the resistance is still at the downward trendline, which also coincides with the moving average of 50 day ($89,500-$90,000.
BTC/USDT 1-day chart. TradingView
Scott Melker is an independent analyst who has noted that Bitcoin’s 4-hour relative index strength indicator shows a “clear bullish trend, with a series of higher lows and higher highs.”
Melker posted a message on March 24, X. said,
“All of this preceded by [an] oversold RSI with bullish divergence at the bottom on daily and below. Which I was screaming about.”
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Source: cointelegraph.com
