Bitcoin selling at $95K is ‘profit-taking pressure test’ but BTC whales are still buying
Bitcoin's price fell below $93,000 on April 30, following a -0.3% contraction in US GDP for Q1, which missed expectations. The GDP Price Index rose to 3.7%, the highest since August 2023. Polymarket indicated a 67% chance of recession in 2025, with consumer confidence at its lowest since May 2020. March 2025 PCE inflation was 2.3%, slightly above expectations, while Core PCE was 2.6%. February's Core PCE was revised upward, indicating persistent inflation concerns. Bitcoin experienced over $300 million in spot selling pressure, with negative flows increasing daily. Accumulation trends show large holders are buying, while smaller holders are selling. Current market conditions suggest a pivotal moment for Bitcoin, with profit-taking observed around the $95,000 level. Realized profits surged to $139.9 million per hour, indicating potential for new highs despite the selling pressure.
