Bitcoin (BTC) is up 0.7% this week to $94,990,
extending its April gains to 15.1%—well above its historical monthly average of
13%. With prices decisively breaking above the $90,000–92,000 resistance range
and successfully retesting that level, the path is now clear for a potential
rally toward the much-anticipated $150,000–200,000 target zone.
Market sentiment remains highly bullish,
bolstered by substantial institutional inflows. Spot BTC-ETFs—IBIT (BlackRock),
FBTC (Fidelity), and GBTC (Grayscale)—reported a combined $1.88 billion in net
inflows last week, followed by several hundred million more this week. In
total, crypto markets saw roughly $3 billion in net inflows, reinforcing the
view that the bottom is likely in and the next major leg up is underway.
Standard Chartered analyst Geoff Kendrick
projects BTC at $120,000 by June and $200,000 by the end of 2025, citing high
U.S. Treasury term premiums, whale accumulation, and rising investor appetite
for non-U.S. assets. However, given the pace of inflows and the post-halving
dynamics, such price levels could arrive sooner than expected.
Tariff-related headwinds appear to be easing.
Some of President Trump’s initially aggressive trade measures against China
have been scaled back or reversed, lowering geopolitical tension and supporting
investor confidence. Formal U.S.-China trade talks are expected soon, which
could serve as another upside catalyst.
Technically, BTC has confirmed its breakout
with a successful retest of support at $90,000–92,000. The next resistance lies
at $99,000–101,000. If that level is cleared, it would likely trigger a sharp
move toward new all-time highs above $110,000, and potentially up to
$150,000–200,000.