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Key Insights:
- Bitcoin’s MVRV Golden Cross and rising ETF inflows suggest increased market demand and potential for bullish momentum.
- Miners locked in $18.57M in profits as Bitcoin surpassed $93K, signaling market confidence and potential price rally.
- ETF demand and a surge in early miners’ profits are aligning, potentially driving Bitcoin toward higher price levels.
Bitcoin (BTC) recent market activity indicated that BTC price may hit $100K through growing profits among miners and renewed focus on exchange-traded funds (ETFs). Specifically, various technical signals in combination with factors related to the overall market point to an increase in the Bitcoin price.
BTC Price MVRV Golden Cross
Analyst Ali Martnez observed a bullish signal on Bitcoin price after the MVRV Ratio crossed above the 365-day SMA. Market sentiment usually depends strongly on the MVRV Ratio, which measures market value against the realized value.
According to the analyst, the MVRV Ratio crossed above the SMA, creating bullish Bitcoin market conditions. This is demonstrated by the increasing closeness of market value to realized value. The cross is a positive market indicator, suggesting Bitcoin entered an underpriced state that may lead to stronger upward price action.
In addition, according to data on the chart, Bitcoin price stabilized at $93,400. This price point aligns with the cross of the MVRV Ratio and its 365-day SMA, further reinforcing the potential for a bullish breakout.
An upward trend in the MVRV Ratio is accompanying Bitcoin price recent gains as investor sentiment continues to grow stronger. Hence, strong market momentum could drive the crypto’s price above $100,000 if this upward trend persists.
Another analyst, Bitbull, pointed out that the Bitcoin crypto is still undervalued, while it has the energy value of around $130K. However, despite its revival, Bitcoin has not traded at a parabolic high, as during the previous growth phases, for example, in December of 2017 and April of 2021. The chart provided a clear indication that Bitcoin is still bullish and might experience further sharp increases in succeeding cycles.
Miners Locked in Millions in Profits
More so, Bitcoin miners achieved $18.57 million in realized profits after BTC price surpassed $93,000. The miners who possess a substantial share of Bitcoin total supply have efficiently cashed out their coins through price milestones, indicating their confidence in prevailing market conditions.
Historically, when miners secure profits, it often correlates with a continued bullish phase. The confidence of traders and investors strengthens, and the overall market sentiment remains bullish.
ETF Demand Aligning for Potential BTC Price Rally
Additionally, Bitcoin ETF inflows demonstrated a major upswing through U.S. spot ETFs. With Bitcoin inflows remaining stable throughout the first quarter of the year, there has been a notable increase in demand.
ETFs have become increasingly appealing due to regulatory clarity and their accessibility for institutional investors. Their growing use to gain Bitcoin exposure reflects increasing mainstream adoption, often followed by sustained inflows and renewed price momentum.
A recent Bitcoin price analysis shows BTC surging past $93,000, up nearly 12% weekly. The breakout from a falling wedge pattern and $381.3 million in ETF inflows on Apr. 21 further support the bullish case.
While some traders expect short-term consolidation, others forecast a $100K breakout. Macro optimism—fueled in part by a favorable shift in President Trump’s stance toward crypto—is adding to the upward pressure.
At the time of writing, Bitcoin price hovered near $94,740, reflecting a 2% daily gain and sustaining its path toward $95,000.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
