TLDR
- Bitcoin price remains around $95,000 while Ethereum and Cardano show stronger gains
- Blackrock’s IBIT ETF recorded $1 billion in inflows on Monday
- Bitcoin supply on centralized exchanges has hit a 7-year low, reducing selling pressure
- Analysts predict potential breakout to $106,000 based on whale accumulation and bullish metrics
- Circle received regulatory approval in Abu Dhabi to expand stablecoin operations across Middle East and Africa
In the rapidly evolving cryptocurrency market, Bitcoin has maintained its position above $95,000 while showing signs of potential further growth. Market data from late April 2025 shows the total cryptocurrency market cap holding firm at $3.1 trillion, with capital increasingly flowing toward altcoins as investor risk appetite grows.
Bitcoin price rose by approximately 1% on Tuesday, advancing toward $95,500 before encountering resistance. Despite this modest gain, Bitcoin continues to attract major institutional investment through ETF vehicles.
The standout event in recent days was Blackrock’s IBIT ETF, which posted a record-breaking $1 billion inflow on Monday alone. This massive capital injection came despite redemptions from other major players like Fidelity and Ark Invest, resulting in aggregate deposits of $591 million.
Bitcoin ETFs have been on a buying spree for eight consecutive trading days dating back to April 14. Market observers note that Blackrock’s aggressive acquisition could prompt other institutional participants to follow suit in the coming days.
Altcoins Gaining Momentum
While Bitcoin consolidates, several major altcoins broke above key resistance zones on Tuesday. Ethereum and Cardano stood out with 2% gains each, outperforming Bitcoin’s 0.6% increase during the same period.
This shift in market dynamics suggests investors are displaying higher risk tolerance and seeking opportunities beyond Bitcoin. Among the top 20 cryptocurrencies, Bitcoin Cash (BCH) led gains with a 6% rally, partly driven by renewed interest in privacy coins amid ongoing controversy surrounding Monero (XMR).
The real-world asset protocol Hyperliquid also posted an 18.4% gain, indicating increased demand for tokenized instruments as the crypto ecosystem continues to mature and diversify.
On-Chain Metrics Point to Bullish Outlook
Multiple on-chain indicators are reinforcing positive market sentiment. According to data from CryptoQuant, Bitcoin supply on centralized exchanges has dropped to a 7-year low, with only about 2.492 million BTC remaining on exchange platforms.
Over the past seven days, approximately 56,164 BTC were withdrawn from centralized exchanges according to Coinglass data. This reduction in available supply typically lowers selling pressure and creates favorable conditions for price growth.
CryptoQuant also reports that the percentage of Bitcoin’s supply in profit has surpassed 85%, a historically high figure. However, analysts caution that if this ratio exceeds 90%, the market could enter what they term a “historic euphoria” phase that might precede a correction.
New capital continues to enter the market, with CoinShares reporting $3.2 billion flowing into Bitcoin funds during the last week of April 2025.
Matrixport, a crypto service platform, asserts that Bitcoin is approaching the $106,000 resistance level with strong likelihood of breaking through this mark soon. This analysis is supported by ongoing whale accumulation and extremely bullish market sentiment.
Renowned analyst Willy Woo shared on social platform X that Bitcoin’s fundamentals have turned bullish, with the market likely to either move sideways or rise slowly in the coming period. Woo highlighted a “bullish ascending triangle” pattern forming, which could signal a strong upward move if Bitcoin breaks through current resistance levels.
BTC fundamentals have turned bullish, not a bad setup to break all time highs.
I took a break from X to enjoy the NZ summer but every week I put out a series of analysis to my subscribers (this is a hobby, NOT a long term project).
Thought I'd post this update publicly.
— Willy Woo (@woonomic) April 27, 2025
In regulatory developments, Circle has received In-Principle Approval from Abu Dhabi’s Financial Services Regulatory Authority to operate as a regulated money services provider across the Middle East and Africa. This approval will enable broader access to Circle’s USDC stablecoin and digital asset services in the region.
Meanwhile, 1inch has deployed its Fusion protocol on Solana, enabling MEV-protected token swaps for over 1 million Solana-based assets. The platform now aims to roll out cross-chain swap functionality connecting Solana with ten other networks to unify fragmented liquidity pools.
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