The current price of Bitcoin stands at $67,850 while other cryptocurrencies are displaying signs of a feeble recovery. Recent data on the Spot Bitcoin ETF revealed a net inflow of approximately $204 million on April 5th. However, these inflows were weaker compared to the ones on April 4th. Speculations are now arising on the potential rise in Bitcoin price over the upcoming weekend.

Possibility of Bitcoin Price Rise

Amidst ongoing uncertainties due to upcoming inflation data and lackluster ETF data, there are still positive indicators to consider. Genesis has concluded a substantial amount of GBTC sales which might alleviate market pressures caused by demand shortages through the ETF channel in the following week.

The recovery of the Reserve Risk indicator from the green zone is another positive development. This particular data analyzes the current Bitcoin price vis-a-vis long-term investor cost base, indicating a probability of further accumulation by investors.

Predictions for the Weekend

Another optimistic indicator is the DAA Divergence, which correlates the number of daily active addresses with the current price. The increasing number of active addresses amidst falling prices gives a bullish signal, reinforcing the accumulation trend advocated in the second positive signal.

The upcoming halving scheduled for April 20th is the fourth favorable factor for enthusiasts. Historical patterns suggest that previous block reward halvings have led to significant price surges. However, the current scenario does not show massive sell-offs below $69,000, hinting at a positive long-term trajectory for Bitcoin.

Taking all these factors into consideration, the Bitcoin price might breach $70,000 during the weekend (April 6-7). A further push above $71,370 could indicate a pre-halving price hike. Conversely, persistent weakness in Bitcoin price around the $68,250 resistance level, coupled with the aforementioned reasons, may impede a definitive rally. It's crucial to remember the unpredictable nature of cryptocurrencies and acknowledge the diverse perspectives in the market. In a bearish scenario, the price targets are $65,300 and $61,730.