Bitcoin has had an exciting week, climbing around 12% in value thanks to growing demand. Even though the price dipped slightly in the past day, investors are still feeling confident, with many expecting Bitcoin to keep rising.
A Bullish Flag Points to More Bitcoin Growth
According to crypto analyst Titan of Crypto on platform X (formerly Twitter), Bitcoin’s recent price action has formed a “bull flag” on the 4-hour chart — a pattern that usually hints at more gains ahead.
A bull flag happens in two steps: first, there’s a quick, sharp jump in price — known as the “flagpole.” For Bitcoin, this happened between April 20 and April 23, when the price shot up from $83,000 to $94,700. After that, the price moved sideways in a narrow range between $91,800 and $94,700, creating the “flag” part of the pattern.
This kind of setup usually leads to another jump if buyers stay active. And that’s exactly what happened — Bitcoin broke out of the flag on April 25, setting the stage for another rally. Based on how these patterns typically play out, Bitcoin could now be on track to reach around $103,000.
Right now, after Friday’s small pullback, Bitcoin is hovering between $94,600 and $95,504. If buying interest stays strong, the price could quickly move higher again. But if interest cools down, Bitcoin might dip back to around $92,000 before making another attempt to climb.
Most Bitcoin Holders Are Winning Right Now
Meanwhile, new data shows that a massive 95% of Bitcoin holders are currently sitting on profits after the recent price surge. According to blockchain analytics company IntoTheBlock, Bitcoin crossing $95,000 pushed most investors into the green.
A big reason behind this surge is the booming demand from Bitcoin spot ETFs (exchange-traded funds). Investment tracking site SoSoValue reported that Bitcoin ETFs saw a record $3.06 billion in inflows over the past week — the highest since these ETFs launched earlier this year.
This strong buying activity from big investors echoes the kind of excitement seen back in late 2020 and early 2021, when institutional demand helped drive Bitcoin from $10,000 to over $60,000 in a few months.
At the time of writing, Bitcoin is priced at $94,359, up about 0.97% in the past 24 hours. Daily trading volume has also picked up, rising 10% to about $35.15 billion. Bitcoin continues to dominate the crypto world, making up about 63.4% of the entire crypto market’s value.
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