Bitcoin Price Analysis: BTC Slips Below $95,000 After Marginal Decline

Bitcoin’s (BTC) price action is relatively muted as it hovers around $95,000. The flagship cryptocurrency went past $95,000 on Friday, rising to $95,620, but lost momentum and declined to its current level of $94,285. Analysts predict BTC could reclaim $100,000 and potentially rally to a new all-time high if bullish momentum picks up. Bitcoin (BTC) Poised For Strongest Weekly Gain Bitcoin’s 11% jump to crack the $95,000 ceiling is on track to become its strongest weekly performance since November 2024. The flagship cryptocurrency pushed above $95,000 Friday before registering a marginal decline. BTC is marginally up over the past 24 hours as it looks to build momentum and reclaim $95,000. The broader crypto market also continued its positive momentum, with most cryptocurrencies, including Ethereum (ETH), Ripple (XRP), and Solana (SOL) trading upwards. The gains indicate that the markets have overcome the early-April turmoil created by economic uncertainty and Trump’s tariffs. ETFs have also bounced back, recording $2.68 billion in net inflows this week, the highest since December, according to data from SoSoValue. The flagship cryptocurrency’s resilience highlights its decoupling from traditional macro assets. David Duong, Global Head of Research at Coinbase Institutional, stated, “It’s rare to witness market inflection points in real-time, as we only tend to recognize major regime shifts with the benefit of time and reflection. This week’s decoupling of Bitcoin’s performance from that of traditional macro assets may be as close as we come to such a moment. In our view, this divergence highlights bitcoin’s maturing role as a store-of-value asset—one that is increasingly being viewed by institutional and retail investors alike as resilient against the macroeconomic forces affecting risk assets more broadly.” Swiss National Bank Dismisses Bitcoin Reserve An official from the Swiss National Bank has dismissed calls for adding Bitcoin to its reserves as a hedge against the ongoing macroeconomic turmoil. According to a report by Reuters, Swiss National Bank Chairman Martin Schlegel stated that cryptocurrency cannot fulfill the requirements of Switzerland’s currency reserves. The comments come amid growing pressure from the crypto industry to add BTC to the bank’s reserves. Luzius Meisser, a board member of cryptocurrency broker Bitcoin Suisse, stated, “Holding Bitcoin makes more sense as the world shifts towards a multipolar order. The need is even more dire now that the dollar and the euro are weakening.” This is not the first time the Swiss National Bank under Schlegel has pushed back against the idea of adding Bitcoin to its reserves. Schlegel had earlier stated he did not want to create a Bitcoin reserve in Switzerland due to the asset’s volatility. Bitcoin (BTC) Price Analysis Bitcoin (BTC) has registered a marginal decline during the ongoing session as selling pressure around $95,000 prevents a push higher. The flagship cryptocurrency has had a bullish week, rising over 11%, and is on track to post its highest weekly gain since November 2024. One analyst believes BTC is gearing up for a massive price surge that could take it to $150,000 or beyond. The analyst pointed out that $89,000-$90,000 were key levels for BTC , stating that if the price fell below this level, it would have to wait for momentum to return. Additionally, Bitcoin’s Market Value to Realized Value (MVRV) has formed a Golden Cross with its 365-day Simple Moving Average (SMA). BTC has also reported a significant rise in its Apparent Demand. The indicator returned to positive territory after spending several weeks in the red. Bitcoin’s Apparent Demand measures the cumulative net demand for BTC over the past 30 days, tracking wallet accumulation and exchange outflows. An increase in this metric suggests strong buying pressure and bullish sentiment, leading to a potential rally. This is the first time since February that the Apparent Demand has turned positive, aligning with growing spot Bitcoin ETF inflows and accumulation by long-term holders. According to John Glover, chief investment officer of crypto lender Ledn, markets will remain choppy over the next week, but the flagship cryptocurrency should reclaim $100,000. “My expectations continue to be for a rally to $133-$136k into the end of this year, beginning of next.” BTC crossed the 50-day SMA on Thursday, rising 1.10% and settling at $84,956. The price lost momentum on Friday, registering a marginal drop and settling at $84,518. Sentiment changed over the weekend as BTC registered an increase of 0.61% to reclaim $85,000 and settle at $85,033. The price continued to push higher on Sunday despite selling pressure, registering a marginal increase and settling at $85,224. Bullish sentiment intensified on Monday as the price surged past $87,000 and settled at $87,508. BTC rallied on Tuesday, rising almost 7% to surge past $90,000 and settle at $93,373. Source: TradingView However, the rally lost momentum Wednesday as BTC encountered volatility and selling pressure. Despite this, the price rose 0.40% and settled at $93,749. Sellers drove BTC to a low of $91,693 on Thursday. However, buyers did not cede ground to the bears, and the price rebounded from this level to cross $94,000 and settle at $94,009. Buyers retained control on Friday as BTC registered an increase of almost 1% and $84,776, but not before reaching an intraday high of $95,865. The flagship cryptocurrency is marginally down during the current session as it attempts to overwhelm the overhead resistance. If BTC breaks above this level, it could reclaim $100,000 and push toward its all-time high. However, if the price dips below $90,000, it could signal buyer exhaustion. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.