Bitcoin and Ethereum Continue Bullish Bias

As of April 30, 2025, Bitcoin (BTC) is trading around $94,616, reflecting a marginal daily decline of 0.36%. The intraday high reached $95,444, while the low stood at $93,883. This range-bound movement comes after a week of steady gains, hinting at a period of consolidation beneath the psychologically significant $95,000 mark.

Analysts interpret this consolidation as a healthy pause in an overall bullish trend. Market watchers are closely eyeing the $100,000 resistance level, which, if breached, could pave the way for a substantial upward surge.

Technical analysis reveals that Bitcoin has recently broken through minor resistance points, suggesting sustained bullish momentum. Despite this, the market faces formidable resistance in the $98,000 to $100,000 range. A decisive break above this zone would likely trigger increased buying activity and potentially push BTC to new all-time highs.

The current support level around $85,000 has proven resilient during previous pullbacks, providing a strong foundation for potential upward movements.

Institutional interest in Bitcoin remains robust, as evidenced by recent investment flows. BlackRock has reportedly accumulated over $240 million in BTC, reinforcing the narrative that large asset managers are doubling down on digital assets.

Additionally, Bitcoin ETFs continue to experience significant inflows, with $172.8 million recorded recently. These trends highlight growing confidence among institutional investors, even as broader market liquidity—particularly in stablecoins—remains relatively subdued.

Market sentiment remains broadly optimistic. Standard Chartered forecasts Bitcoin could reach $120,000 in Q2 2025, citing a strategic global shift away from U.S. financial instruments. Other models project a more aggressive upside, with some analysts predicting a year-end target of up to $210,000 driven by increased adoption and favorable macroeconomic conditions.

Ethereum (ETH) is trading around $1,795.22, posting a modest daily decline of 1.49%. The day’s high reached $1,837.35, while the low touched $1,784.10. This price movement comes as Ethereum attempts to build support above the $1,780 level following a technical breakout from a multi-month descending channel.

Recent technical indicators, including the Relative Strength Index (RSI) crossing above the neutral 50 mark, suggest growing bullish momentum. Market watchers are targeting the psychological resistance at $2,000, a critical level that could open the door to a larger rally if breached.

Institutional sentiment surrounding Ethereum is on the rise. ETH-based exchange-traded funds (ETFs) have recorded consistent inflows for three consecutive days, including $64.12 million on April 28 alone. This reflects growing confidence in Ethereum’s medium- to long-term potential.

Adding to the bullish narrative, asset manager VanEck has confirmed that Ethereum staking will be incorporated into its upcoming ETF offerings. This would allow investors to earn staking rewards directly through regulated investment vehicles, increasing ETH’s appeal to passive and institutional investors alike.

Ethereum is widely considered undervalued by market analysts, who point to current price levels as an attractive entry point for investors. A break above $1,968 could see ETH surge to targets near $2,100 and possibly $2,426 in the coming weeks. Conversely, failure to hold the $1,735 support level could see Ethereum fall back toward the $1,500 range.

Overall sentiment remains optimistic as short sellers continue to unwind positions, a dynamic often associated with the beginning of price recoveries.