Key points:
Bitcoin’s rally is backed by solid institutional buying in the spot BTC ETFs.
A rally above the $95,000 level could be difficult, but analysts’ end-of-year price projections now extend to $200,000.
Select altcoins are showing signs of a price bottom.
Bitcoin (BTC) price rallied close to the $95,000 resistance level on April 23 as the cryptocurrency finds support from rising spot BTC ETF inflows and positive macroeconomic news in the United States. According to Farside Investors, the funds recorded net inflows of $381.3 million on April 21 and $912.7 million on April 22.
Analysts from Standard Chartered and Intellectia AI said that institutional demand for Bitcoin ETFs and BTC’s use as a hedge against macroeconomic risk could propel the price to $200,000 in 2025.
Crypto market data daily view. Source: <a data-ct-non-breakable="null" href="https://coin360.com" rel="null"