Bitcoin price today, May 1, 2025: Continuing to trade sideways.
Bitcoin price today, May 1, 2025: Bitcoin (BTC) is experiencing five consecutive days of sideways trading, fluctuating around $95,000.
Investors are awaiting a clear breakout, amid two key upcoming events: MicroStrategy's first-quarter financial report and the deadline related to the Strategic Bitcoin Fund under President Trump's executive order.
Institutional demand remains the main driver keeping the upward trend going. On Tuesday, US spot ETFs recorded inflows of over $172 million, extending the positive inflow streak since April 17th.
On MicroStrategy's side, the company is reportedly close to completing the use of $21 billion from its October 2024 stock offering. In this context, analysts expect them to soon announce a new offering to continue their strategy of buying BTC, which could provide further upward momentum for the cryptocurrency.
Executive Chairman Michael Saylor is believed to remain determined to expand the company's BTC holdings by utilizing continuous and robust capital resources.
The second event relates to the 60-day deadline in Trump's executive order concerning the evaluation and establishment of a Strategic Bitcoin Fund.
Although the May 5th deadline is approaching, not much official information has been released yet. However, analysts believe that this development could have a significant impact on the market once the information is clarified.
Technically, Bitcoin has yet to break through the strong resistance level of $95,000. If it closes above this level, BTC could rise to the $97,000 region, and if it continues its upward momentum, the psychological $100,000 mark could be tested.
The current RSI at 66 suggests that the upward momentum is still present, but not overly aggressive. Conversely, if BTC fails to hold the $95,000 level, a correction to the support level around $90,000 remains.
