Bitcoin broke above $95,100 on April 27 as bulls seized momentum during pre-market trading
Trump’s plan to roll back Chinese tariffs created favorable market conditions for Bitcoin
Binance co-founder Changpeng Zhao sent a “buy-the-dip” signal, boosting market sentiment
Bitcoin posted 10.6% weekly gains, outperforming the S&P 500 and gold
Technical indicators suggest potential for continued rise to $102,500
Bitcoin has surged past the $95,000 mark, showing strong bullish momentum as it outpaces traditional assets and eyes the $100,000 psychological barrier. The cryptocurrency’s price action comes amid positive market developments and growing institutional support.
Bitcoin broke decisively above $95,100 early Sunday, April 27, as renewed buying pressure swept across global crypto markets. After consolidating near $93,000 for most of the weekend, BTC’s market momentum swung positive.
Fresh headlines confirming U.S. President Donald Trump’s plans to roll back tariffs on Chinese imports sparked a broader rally in equities and commodities. This created favorable spillover effects for Bitcoin.
By midday Sunday, Bitcoin traded as high as $95,115, posting 24-hour gains of approximately 1.0%, according to CoinGecko data.
On a weekly basis, BTC price posted a 10.6% uptick, outperforming both the Nasdaq’s S&P 500 Composite index and gold futures. At press time, Bitcoin’s monthly gains stand at 11.8%, while year-to-date returns remain strong at 48.4%.
Market Sentiment Strengthens
Binance co-founder Changpeng Zhao hinted at further upside potential in a post on X (formerly Twitter), writing, “I hope you bought the dip. ” shortly after Bitcoin reclaimed the $95,000 mark.
Though brief, Zhao’s comments carry weight across the crypto community. As co-founder of the world’s largest cryptocurrency exchange by trading volume, his market insights often influence retail and institutional sentiment.
The price rally coincides with heavy liquidations in the futures market. Since April 21, over $450 million in BTC short positions have been liquidated as sellers were caught off guard by Bitcoin’s climb above $94,000.
Technical indicators support the bullish case. Bitcoin closed above $94,300, firmly inside the upper Keltner Channel band at $94,319.51. The current BTC Keltner Channel expansion signals growing momentum, potentially a precursor to a sustained rally toward the $102,500 target.
Supporting this narrative, the Parabolic SAR at $87,224.78 has shifted further below the current price, reinforcing a prevailing bullish trend. The TM RSI reading at 66.31, while elevated, has not yet crossed into the overbought 70 zone, suggesting further room for upside.
Institutional Interest Grows
Investor confidence in Bitcoin was further boosted by a record $3.1 billion in net inflows to spot Bitcoin exchange-traded funds (ETFs) over five days.
The two-month Bitcoin futures premium (basis rate) rose to its highest level in seven weeks, indicating greater interest in bullish positions. At 6.5%, this metric remains within the neutral 5% to 10% range, but is moving away from bearish territory.
This increased institutional interest contrasts with the cautious stance of retail traders, as shown by volatile funding rates in perpetual futures markets since April 14.
Bitcoin’s price strength comes despite President Trump reportedly saying on April 25 that negotiations would depend on China making concessions, causing traders to question the sustainability of recent gains.
Interestingly, Bitcoin’s 30-day correlation with the S&P 500 now stands at just 29%, well below the 60% level seen from March to mid-April. This decreasing correlation highlights Bitcoin’s growing independence as an asset class.
Gold’s inability to maintain its bullish momentum after reaching an all-time high of $3,500 on April 22 was also seen as strengthening Bitcoin’s status as an independent asset class.
On the downside, a bearish reversal could develop if Bitcoin decisively loses the $93,600 intraday low, risking a pullback toward the Keltner basis line at $88,615.
However, the longer BTC remains above $90,000, the more confidence investors may have, potentially paving the way for further gains beyond the $100,000 mark in the near future.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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” shortly after Bitcoin reclaimed the $95,000 mark.BNB (@cz_binance) April 27, 2025