Bitcoin Price Rebounds 30% From April Lows as Institutional Interest Soars – Is $100K Imminent

Highlights:

• Bitcoin price has risen about 30% from April lows, breaking through $96K mark.
• Metaplanet has invested ¥3.6 billion in acquiring more Bitcoin, which could trigger prices in the near future.
• Glassnode data shows that short-term BTC holders are in profit.

The Bitcoin price has broken above the $95K level, boasting 1.18% gains at the $96, 671. Moreover, the Bitcoin market momentum is soaring, as the BTC price has rebounded about 30% from April lows of $74K. The recent upward movement demonstrates resilience despite the market volatility. 

Notably, Metaplanet, a leading Japanese-based investment firm, decided to invest ¥3.6 billion in acquiring more Bitcoin. This is a step in the mainstream adoption of Bitcoin as an investment asset. Issuing these bonds also places Metaplanet among many institutional investors betting on Bitcoin’s long-term value proposition. At this time, Metaplanet’s move could have far-reaching implications for the cryptocurrency market as Bitcoin rockets in attention from investors around the globe.

*Metaplanet Issues 3.6 Billion JPY in 0% Ordinary Bonds to Purchase Additional $BTC* pic.twitter.com/e3UIEP7csr

— Metaplanet Inc. (@Metaplanet_JP) May 2, 2025

With rising institutional interest, the Bitcoin price could surge toward the $100k mark. 

Bitcoin Price Outlook

The leading altcoin in the crypto realm, Bitcoin, has increased 3% in the past 7 days, to trade at $96K. The bullish momentum is quickly building up, as the altcoin holds above the 50-day and 200-day Moving averages. This shows a heightened bullish grip, as the bulls put their best feet forward, aiming for the $100K mark. If the support levels at $8,214 and $89,997 keep holding steady, the king coin could break through the $97K resistance soon. In such a bullish case, Bitcoin price could hit $100K. 

The Bitcoin Relative Strength Index paints a bullish signal, thanks to its position at 69.58. This shows that the bulls are in full control of the market, as the RSI is yet to hit the 70-overbought region. 

However, if the uptrend slows and early profiteering commences from investors, the Bitcoin price could drop. This may cause a plunge towards the $95,422 support area. Moreover, if the RSI hits the overbought region, it may call for further consolidation or a possible reversal. Increased selling may see Bitcoin price plunge toward the $93K and $92K. 

Bitcoin Derivatives Data

According to on-chain metrics, Bitcoin’s price dropped in volume by 18% to $82B, indicating reduced market activity. However, its open interest has risen by 1.94% to $67.46B. These mixed signals indicate weakening market momentum, which may pull BTC into consolidation.

However, a quick look at the liquidations in the BTC market shows that they have hit a whopping $61M in the past 24 hours. The long liquidations have acquired about $10M, while the short liquidations take the lion’s share of $51M. In other words, this paints a strong bullish picture in the market, with traders and investors expecting a strong rally soon. Meanwhile, the cost-basis ribbon for Short-Term Holders shows that investors holding BTC  for over one month have returned to profit.

The cost basis ribbon for Short-Term Holders shows that investors holding $BTC for over 1 month have returned to profit. This shift eases sell pressure from older STHs and may signal early signs of positive market momentum if maintained. pic.twitter.com/e0mt0vCzXw

— glassnode (@glassnode) May 2, 2025

According to Glassnode data, this shift eases sell pressure from older STHs and, if maintained, may signal early signs of positive market momentum.