Source: CryptoRank
Overview
Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, continues to consolidate above the $94,000 level. Despite strong market support, the $96,000 resistance remains a critical ceiling that could determine the next phase of its price trajectory.
Current Market Snapshot
- Price (as of April 29, 2025, 10:38 AM): $94,362.99
- 24-hour Change: +0.19%
- 24-hour Trading Range: $93,498.21 – $95,598.49
- 24-hour Volume: $31.77 billion
- Market Capitalisation: $1.87 trillion
- Bitcoin has traded in the range of $93,498.21 to $95,598.49 in the last 24 hours, according to data from CoinMarketCap.
Key Resistance & Technical Indicators
Resistance at $96K
Bitcoin continues to face strong resistance at the $96,000 mark — the upper boundary of its recent trading range.
Piyush Walke, derivatives research analyst at Delta Exchange, noted that Bitcoin sits near the top of its recent trading range. suggesting that a breakout could be on the horizon if upward momentum persists. Prices remain elevated, and the market appears to be positioning for another move higher.
“The recent close above the 200-day moving average marks a potential shift toward bullish momentum, further supported by the Relative Strength Index (RSI) staying above 50. These technical indicators underscore growing investor confidence in a possible upward breakout,” said Walke.
According to Vikram Subburaj, CEO of Giottus Crypto Platform, Bitcoin has resiliently held above $94,000 despite almost $380 million in ETF outflows failing to exercise any influence upon its price. As Subburaj sees it, immediate support rests at $93,000, whilst the other immediate possibility might remain a risk of long squeezing towards $90,000.
“The Fear & Greed Index has climbed to 60 (in greed) indicating that market is beginning to become risk-on, while Bitcoin balance on exchanges has dropped to 2.2 million, indicating that a strong rally is possible early May,” said Subburaj.
Subburaj believes while the risk of a short-term dip remains, the asset is firmly placed to rally towards $100,000 soon.
Walke on the other hand, said, “A decisive move above $100,000 could open the door to new all-time highs.” Conversely, failure to hold key support levels could trigger a broader correction.”
Altcoin Market Overview
Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalisation, was quoted trading at around $1,794.87, down merely 0.06 per cent. It has recorded a minor increase of 0.49 per cent, while Solana (SOL) traded lower by 1.83 per cent, and Ripple (XRP) fell by 0.13 per cent. Meanwhile, Tether against the US dollar was trading flat at $1.
