Bitcoin remains under pressure around the $96,000 resistance while traders assess support at $94,550.
Consolidation Below $96K
Bitcoin continues to consolidate just below the $96,000 resistance, with traders closely monitoring the support at $94,550. This level is now being watched as a potential signal of mid-term holder strength. As of May 1, 2025, BTC was trading around $95,187, recovering from a dip to $93,438.
ETF Outflows and Institutional Accumulation
The market faced $56.23 million in ETF outflows, adding pressure to prices. Despite this, institutional investors continue to accumulate actively. According to LookOnChain, BlackRock’s IBIT acquired over 25,430 BTC last week, worth around $2.4 billion, while large holders bought over 43,100 BTC between April 13 and 27.
Traders Watching Key Levels
Market participants are now watching for a decisive move above $96,000, while a breakdown below $93,198 could bring $83,444 into view.
Bitcoin remains bounded by key levels, making it a dynamic subject for traders in the current market conditions.
