Key takeaways:

Bitcoin’s price consolidates as the market awaits President Trump’s 100-day speech.

Over $4.7 billion in BTC has been withdrawn from exchanges since April 22, reducing supply and boosting price sensitivity to demand.

Trump’s crypto policy clarity could spark a BTC surge, but tariffs may cap gains.

Traders say Bitcoin price must clear key hurdles above $95,000 before continuing the uptrend to $100,000 and beyond.

Bitcoin’s (BTC) price is consolidating in a tight range between $91,700 and $95,850, ahead of Trump’s 100-day commemorative rally.

BTC/USD daily chart. Source: Cointelegraph/TradingView 

Market awaits Trump’s 100-day speech

Bitcoin investors have adopted a wait-and-see approach ahead of US President Donald Trump’s speech to commemorate his 100th day in the White House on April 29. 

Crypto-related policies have been prominently featured so far in Trump’s second-term presidency, but markets await crypto-specific regulatory updates on his economic policies.

Clarity on his administration’s strategic Bitcoin reserve proposal could trigger a move toward $100,000. However, renewed focus on tariffs or aggressive budget cuts could weigh on broader markets and cap Bitcoin’s upside in the short term.

Cryptocurrency betting platform Polymarket predicts a 24% chance of Trump mentioning “crypto” or “Bitcoin” in his 100-day speech today. Data from the platform showed users had poured more than $1 million into bets on the event.

Polymarket odds of what Trump will say in his 100-day speech. Source: Polymarket 

Trump’s rhetoric could drive short-term price surges, just like in the past. For example, Bitcoin’s recent recovery from $74,400 to $94,000 was partly fueled by Trump’s comments that tariffs on goods from China “will come down substantially.” 

While the speech may spark optimism and price spikes, broader market dynamics, including tariffs and global trade tensions, could temper gains, as seen with recent crypto market fluctuations.

Over $4.7 billion in BTC leave exchanges

Apart from possible positive comments from Trump, Bitcoin’s declining supply on exchanges supports the bullish case for a rally toward $100,000.

Investors have withdrawn over 50,500 BTC (worth $4.7 billion) from exchanges since easing macroeconomic tensions sparked a marketwide rally.

Bitcoin reserve on exchanges. Source: CryptoQuant

Lower exchange supply reduces available BTC for selling, amplifying price sensitivity to demand, which could rise after Tump’s speech.

When $100,000 BTC price?

Bitcoin price has been consolidating below the $96,000 level over the last seven days, as data from Cointelegraph Markets Pro and TradingView shows.

“BTC is slowly compressing and making higher lows under 96K resistance,” said popular Bitcoin analyst AlphaBTC in an April 29 post on X. 

Related: Bitcoin targets $115K as BTC supply metric nears ‘historic euphoria’ zone

As Cointelegraph reported, the $95,000 level is a key resistance that the bulls needed to overcome to secure the recovery.

“The more attempts into the $95K, the more likely it will push through,” AlphaBTC asserted, adding that the squeeze will likely take Bitcoin to the sought-after 100,000 level.

“I expect a bigger pullback, but probably not until 100K has been taken out.”BTC/USD 30-minute chart. Source: AlphaBTC

While making similar observations, fellow analyst Daan Crypto Trades said, “BTC Price is compressing again the past few days after the move back into the previous range.”

According to Daan Crypto Trades, a key level to watch on the downside is the 200-day simple moving average (SMA) within the $89,500 and $91,000 range.

Major resistance levels are the $99,5000 local high and “the big psychological $100K area,” the analyst explained, adding:

“Those are good levels to watch here in the intermediate term. Currently, it is just a waiting game of where this wants to head next in the short term.”BTC/USD daily chart. Source: Daan Crypto Trades

As Cointelegraph reported, healthy market fundamentals could propel Bitcoin price past $100,000 to new all-time highs.

Meanwhile, Peter Chung, head of research at quantitative trading firm Presto, has reiterated his prediction that Bitcoin will reach $210,000 in 2025.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Key takeaways:

Bitcoin supply in profit has climbed back above 85%, nearing the classic euphoric area.

Onchain data shows strong accumulation from new and momentum buyers with minimal profit-taking.

Bitcoin could rally toward $110,000–$115,000 helped by a “max buying” zone.

Bitcoin (BTC) is charging toward a potential new all-time high near $115,000, as a surge in profitable supply signals growing bullish momentum and a classic setup for market euphoria.

Nearly 87% of Bitcoin supply in profit

As of April 28, approximately 86.9% of all Bitcoin coins were in profit, according to on-chain data resource CryptoQuant.

Historically, the metric’s climb into the 85–90% range has signaled a transition from healthy optimism to speculative euphoria among traders.

Between October and December 2024, for instance, Bitcoin’s price climbed from around $80,000 to over $100,000, a rally coinciding with Bitcoin’s profitable supply rising from under 80% to as high as 99%.

Bitcoin percent supply in profit. Source: CryptoQuant

In his April 28 post, CryptoQuant-based analyst DarkFrost reminded that Bitcoin’s euphoric phases may not last for longer timeframes, leading to sharp corrections as holders begin realizing gains.

BTC’s price established a record high of nearly $110,000 in January, with its profitable supply hitting 99%. But the cryptocurrency dropped by over 30% afterward. Similar profit-taking behaviors have led to price corrections in the past, as shown above.

“Currently, the supply in profit has climbed back above 85%, which is fairly positive,” DarkFrost writes, noting that its recovery from the recent bottom of 75% is still better when compared to 45-50% lows witnessed during bear market corrections.

Besides, the BTC supply in profit still remains below 90%. Crossing above 90% has historically preceded profit-taking behavior among traders, suggesting that there’s more room to grow for BTC prices in the coming days.

DarkFrost argues:

“Of course, there are certain levels that are more “comfortable” than others, but generally, an increase in the supply in profit tends to fuel bullish phases.”

Additional onchain data also supports the bullish outlook. Bitcoin’s First Buyers and Momentum Buyers are actively accumulating, while Profit Takers remain relatively quiet, according to Glassnode metric tracking BTC’s cumulative supply per cohort.

BTC relative strength index of cumulative supply per cohort. Source: Glassnode

This means fresh demand is coming in without heavy selling, a key ingredient for keeping the rally strong as anticipated by DarkFrost in the analysis above.

Bitcoin “max buying” zone hints at $115,000

In late April, Bitcoin bounced strongly from the $89,000–$90,000 support zone, a key horizontal level from prior price action strengthening the case for more upside.

The area, according to chartist CryptoCaesarTA, now acts as a “max buying” zone where buyers have aggressively stepped in to limit Bitcoin’s drawdowns.

BTC/USD weekly price chart. Source: TradingView/CryptoCaesarTA

Below it, the $70,000–$72,000 region remains untested, aligning closely with the long-term ascending trendline. If Bitcoin faces deeper pullbacks, this zone could serve as a critical secondary support.

For now, Bitcoin’s resilience above $90,000 keeps the bulls firmly in control.

Related: 5 Bitcoin charts predicting BTC price rally toward $100K by May

A breakout above the $100,000 psychological barrier could pave the way toward new all-time highs at $110,000–$115,000, according to CryptoCaesarTA. The upside target aligns with previous resistance highs and a so-called “weak high” zone on the weekly chart above.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

BlackRock’s exchange-traded fund (ETF) bought nearly $1 billion worth of Bitcoin on behalf of its clients on April 28, with continued inflows providing “structural support” for Bitcoin’s price appreciation, according to market analysts.

BlackRock’s iShares Bitcoin Trust (IBIT) ETF bought $970 million worth of Bitcoin (BTC) on April 28, its second-largest day of inflows on record after scooping up $1.12 billion of BTC on Nov. 7, 2024, Sosovalue data shows.

IBIT ETF Inflows, all-time chart. Source: Sosovalue 

IBIT’s near $1 billion investment brought total net inflows to US spot BTC ETFs to just above $590 million, with all other ETFs realizing net negative outflows or remaining flat. ARK Invest’s ARKB ETF recorded the highest outflows of $226 million.

Related: Bitcoin treasury firms driving $200T hyperbitcoinization — Adam Back

“Nearly *$1bil* into iShares Bitcoin ETF today.. 2nd largest inflow since Jan 2024 inception. I still remember when there was “no demand,” Nate Geraci, the president of ETF Store advisory firm, wrote in an April 29 X post.

BlackRock’s IBIT is the largest spot BTC ETF, with over $54 billion in assets under management, accounting for 51% of the total spot BTC ETF market share, Dune data shows.

Bitcoin ETFs by market share. Source: Dune

The latest inflows make IBIT the world’s 33rd-largest ETF among crypto and traditional finance-based ETFs, according to data from ETF Database.

Last week’s “ETF inflows and croproate buying” have been significant for Bitcoin’s recovery above $94,000, as retail investor interest continued to lag, Ryan Lee, chief analyst at Bitget Research, told Cointelegraph.

Related: Bitcoin’s role as a reserve asset gains traction in US as states adopt

ETFs provide “structural” support for Bitcoin rally

Bitcoin’s recovery over the past week was aided by over $3 billion worth of cumulative net inflows for the US spot Bitcoin ETFs, marking their second-highest week of investments since launch.

The Bitcoin price posted its “strongest weekly gain since Trump’s election victory, but signs suggest another move could be brewing,” according to Nexo dispatch analyst Iliya Kalchev.

“ETF inflows into spot Bitcoin products topped $3 billion last week — the highest since November — providing structural support that could fuel further upside,” the analyst told Cointelegraph.

Bitcoin investments have previously been a significant driver of Bitcoin’s upside momentum. Bitcoin ETFs accounted for an estimated 75% of new investment into Bitcoin when it recaptured the $50,000 mark in February 2024, a month after the debut of the US spot Bitcoin ETFs.

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