Bitcoin Eyes $92K Breakout—Is a $100K Rally on the Horizon?

Bitcoin is testing a major resistance level, raising questions about whether it can push toward $92,000. On Tuesday Bitcoin surprisingly reached $85,000 before it went up by 3.19% throughout the day. The price of Bitcoin reached $81,188 before market buyers executed successful acquisitions to propel market recovery.

Since January, Bitcoin has been facing resistance from a trendline that has kept its price from moving higher. A powerful bullish candlestick appeared at resistance during the recent bull market on April 1. Currently, Bitcoin is holding near the 61.80% Fibonacci retracement level at $81,855, showing signs of steady support.

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Traders are watching key technical indicators to see if Bitcoin can continue upward. Specific indicators show potential price growth opportunities but additional factors indicate the performance may decelerate. If Bitcoin fails to break through resistance, it could trade sideways before making its next move.

Key Resistance Levels and Exchange Supply Growth

Crypto analyst Ali Martinez has pinpointed $94,280 and $112,380 as key resistance levels that may influence Bitcoin’s upcoming movement. Should Bitcoin exceed these thresholds, it could reinforce its upward momentum.

The pricing bands highlight two critical resistance levels for #Bitcoin $BTC:

• $94,280
• $112,380 pic.twitter.com/ky2zFJD1Am

— Ali (@ali_charts) April 1, 2025

Concurrently, there has been a rise in the availability of Bitcoin on exchanges. CryptoQuant data indicates that exchanges received more than 21,000 BTC during the past four days. The exchange reserves now total 2.440 million BTC while beginning at 2.419 million BTC. 

A high exchange balance tends to reveal increased selling activity in certain situations that could produce short-term price movement.

Over 21,000 #Bitcoin $BTC have been moved to exchanges in the last 96 hours! pic.twitter.com/Opg2Wt2JrH

— Ali (@ali_charts) April 1, 2025

Bitcoin ETFs See Large Outflows

On April 1, U.S. Bitcoin spot ETFs experienced outflows totaling $157.64 million. Out of all withdrawals the ARK 21Shares ETF absorbed the biggest sum of $87.37 million followed by Fidelity which removed $85.35 million. During this period both WisdomTree and Grayscale ETFs lost $10.07 million and $6.76 million in investor capital.

Among the Bitcoin investment funds there were certain funds that did not see any withdrawals. The investment interest of investors continued through Bitwise and Franklin who attracted $24.53 million and $7.39 million in capital. As of April 1, the total net assets in U.S. Bitcoin ETFs are $95.45 billion, representing 5.64% of Bitcoin’s overall market value.

MetaPlanet Expands Bitcoin Holdings

Despite ETF outflows, Japanese investment firm MetaPlanet continues to increase its Bitcoin position. The company recently acquired 160 BTC worth $13 million, raising its total holdings to 4,206 BTC. This follows a larger purchase of 696 BTC just a day earlier.

MetaPlanet aims to accumulate 10,000 BTC before 2025 ends followed by 21,000 BTC acquisition by 2026 completion. If achieved, this would place the firm among the largest corporate holders of Bitcoin worldwide.

What’s Next for Bitcoin?

The rise in price volatility has also generated interest in trading Bitcoin futures. Recent figures show an upward trend in futures open interest at $53.93 billion as it increased by 2.57%. Showings in the positive funding rate of 0.0039% indicate a bullish trader market sentiment.

If Bitcoin exceeds resistance, it could reach $91,780, aligning with the 78.60% Fibonacci retracement level. A further surge could propel Bitcoin closer to $106,000, its previous high.

The price may discover resistance at $75,500 which matches the 50% Fibonacci retracement level. Traders are carefully watching to see if Bitcoin can sustain its current momentum or if it will retreat before its next move.