Bitcoin (BTC) is up 3.7% this week to $88,127,
approaching the key resistance zone at $89,000–$91,000. A breakout above this
level could reignite Bitcoin’s rally, with market players speculating on a
potential spike to $110,000 in the near future. Optimism has been fueled by the
Federal Reserve’s decision to slow its balance sheet drawdown from $25 billion
to $5 billion per month starting April 1. For the bullish scenario to play out,
BTC must decisively clear the $91,000 resistance.
The upcoming Core PCE Index release this
Friday could act as a catalyst. Inflation is expected to slow to 2.6% YoY for
February, down from 2.7% in January. If confirmed, this could reinforce
expectations for Fed rate cuts, further supporting risk assets like Bitcoin.
Institutional investors appear to be
positioning for further upside. Spot Bitcoin ETFs—IBIT from BlackRock, FBTC
from Fidelity, and GBTC from Grayscale—recorded net inflows of $479.3 million
last week, reversing four weeks of outflows. An additional $83 million flowed
into these ETFs this week, potentially marking the beginning of a new trend.
Historically, April is the second-best month
for crypto, averaging a 14–15% gain. This seasonal strength, combined with
post-halving price patterns, could push BTC to at least $100,000–$101,000, with
the potential for an even stronger rally. Institutional adoption is also
expanding—BlackRock has launched its first Bitcoin ETF in Europe, targeting 25
million new customers, while Fidelity purchased $60 million worth of BTC
through its ETF. Donald Trump-affiliated World Liberty Financial is set to
create a USD1 stablecoin, and GameStop is reportedly acquiring Bitcoin,
possibly mirroring MicroStrategy’s business strategy. Even long-time Bitcoin
critic Peter Schiff has announced a Strategic Bitcoin Reserve, following the
U.S. government's plans to establish a Federal crypto reserve.
Technically, BTC is testing resistance at
$89,000–$91,000. A breakout could pave the way for a rally toward
$150,000–$200,000, while a failure to break higher may lead to a pullback
toward the $79,000–$81,000 support zone.