Bitcoin (BTC) Price Breaks Above $93K, Targeting $100K as Institutional Demand Surges

Bitcoin has re-entered bullish territory, surging above the $93,000 mark, as its price continues to climb, confirming a powerful upside trend.

Bitcoin (BTC) has now re-entered bullish territory, surging above the $93,000 mark as its price continues to climb, confirming a powerful upside trend. This move aligns with 10x Research’s prediction, which turned bullish on April 12.

Since then, BTC has gained over 10%, setting the next key resistance level between $94,000 and $95,000. A clean breakout from this zone could pave the way for Bitcoin to hit six figures, fueling further optimism in the market.

Bitcoin Price Analysis: Next Resistance Levels

Echoing this sentiment, Michaël van de Poppe highlighted Bitcoin’s strong uptrend, emphasizing the breakout above $87,000 as the catalyst for testing the $92,000 to $94,000 range. He anticipates some short-term consolidation between $93,500 and $95,250.

However, van de Poppe remains bullish, suggesting the possibility of a fresh rally toward new all-time highs.

“We're now slicing through that zone, which is setting up some nice consolidation. Expect some back and forth between $93,500 and $95,250 before we're seeing a continuation of the trend.”

The cryptocurrency is now encountering resistance around the $93,000 to $94,000 zone, a level that could be crucial for determining the next leg of the move. A breakout above this zone could open the door for a steeper rally, potentially putting the $100,000 mark back in sight.

Meanwhile, institutional interest in Bitcoin continues to grow, evident in the significant ETF (exchange-traded fund) inflows. Bitcoin ETFs experienced their best day since January 17, 2025, potentially attracting over $1 billion.

10x Research’s Money Inflows Indicator also shows a sharp rise in institutional interest, with cumulative inflows reaching $146.3 billion since January. This growing confidence among institutional players is adding fuel to the rally.

The futures markets have also seen a surge, with open interest climbing from $22 billion to $29 billion. This increase in leverage suggests that buying pressure remains high as investors become more confident in Bitcoin’s potential.

The fading political tension, following Trump’s softer stance on tariffs and interest rates, further contributes to the risk-on sentiment. However, analysts remain cautious, noting that stablecoin activity is still not at full strength.

Stablecoins are often used to purchase cryptocurrencies, and their slower pace of minting could raise concerns about the sustainability of the rally.

Nevertheless, stablecoin inflows have started to pick up, and any decrease in uncertainty could reignite liquidity across the board.

Path to $100K: Strong Technicals and Rising Institutional Demand Support Bitcoin

With strong technical indicators, rising institutional inflows, and a favorable political climate, Bitcoin is well-positioned to break through resistance levels. A push above $95,000 could trigger liquidations, adding more fuel to the rally.

Major institutions, including Fidelity, BlackRock, ARK Invest, and Bitwise, are actively accumulating Bitcoin, reinforcing its bullish outlook and increasing the likelihood of Bitcoin reaching the $100,000 mark soon.