TLDR

Table of Contents

Bitcoin’s price broke above $95,100 on April 27 as bulls took control during pre-market trading
Binance co-founder Changpeng Zhao issued a “buy-the-dip” signal, boosting market sentiment
Trump’s decision to ease Chinese tariffs helped Bitcoin outpace traditional assets like gold and S&P 500
Technical indicators suggest Bitcoin could rally toward $102,500
Record $3.1 billion in net inflows to spot Bitcoin ETFs over five days shows strong institutional interest

Bitcoin’s price has made a strong move above the $95,100 mark on Sunday, April 27, as renewed buying pressure swept across global cryptocurrency markets. After spending most of the weekend hovering near $93,000, BTC market momentum turned positive on Sunday, with the digital asset trading as high as $95,115.

The price surge follows fresh headlines confirming U.S. President Donald Trump’s plans to roll back tariffs on Chinese imports. This news sparked a broader rally in equities and commodities, creating favorable conditions for Bitcoin.

According to CoinGecko data, Bitcoin posted 24-hour gains of approximately 1.0%. On a weekly basis, BTC price saw a 10.6% increase, outperforming both the Nasdaq’s S&P 500 Composite index and gold futures.

At press time, Bitcoin’s monthly gains stand at 11.8%, while year-to-date returns remain strong at 48.4%.

Institutional Confidence Growing

Investor confidence in Bitcoin received a boost from a record $3.1 billion in net inflows to spot Bitcoin exchange-traded funds (ETFs) over five days. This heavy institutional buying suggests growing mainstream acceptance of the cryptocurrency.

The recent price action has been accompanied by heavy liquidations of short positions. Since April 21, over $450 million in BTC short positions have been liquidated as Bitcoin’s price climbed above $94,000.

Binance co-founder Changpeng Zhao added fuel to the bullish sentiment with a post on X (formerly Twitter). “I hope you bought the dip. 😆🤷‍♂️,” he wrote shortly after Bitcoin reclaimed the $95,000 mark.

I hope you bought the dip. 😆🤷‍♂️
— CZ 🔶 BNB (@cz_binance) April 27, 2025

Though brief, Zhao’s comments carry weight across the crypto community. As co-founder of the world’s largest cryptocurrency exchange by trading volume, his market insights often influence both retail and institutional sentiment.

Technical Indicators Point Upward

Technical analysis supports the bullish outlook for Bitcoin. The digital asset closed firmly inside the upper Keltner Channel band at $94,319.51, with the current Keltner Channel expansion signaling growing momentum.

This technical pattern could be a precursor to a sustained rally toward the $102,500 target. Supporting this view, the Parabolic SAR at $87,224.78 has shifted further below the current price, reinforcing the prevailing bullish trend.

The TM RSI reading stands at 66.31, which, while elevated, has not yet crossed into the overbought 70 zone. This suggests there may be further room for upside before a correction occurs.

On the downside, a bearish reversal could develop if Bitcoin decisively loses the $93,600 intraday low. This would risk a pullback toward the Keltner basis line at $88,615.

Bitcoin’s correlation with traditional markets appears to be weakening. Currently, the 30-day correlation between the S&P 500 and Bitcoin stands at 29%, well below the 60% level seen from March to mid-April.

While this lower correlation does not mean a complete decoupling, it does show that Bitcoin is increasingly being viewed as an independent asset class rather than simply a proxy for technology stocks.

Gold’s inability to maintain its bullish momentum after reaching an all-time high of $3,500 on April 22 was also seen as a positive sign for Bitcoin’s status as a distinct asset class.

The disconnect between leverage demand in perpetual futures and monthly BTC contracts shows interesting market dynamics. On April 26, the two-month Bitcoin futures premium rose to its highest level in seven weeks, indicating greater interest in bullish positions among professional traders.

Even as retail traders remain cautious, substantial accumulation by institutions could be enough to push Bitcoin’s price above $100,000 in the near future.

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