New Bitcoin price all-time highs could occur in May — Here is why
Bitcoin (BTC) rose 11% from April 20 to April 26, nearing a two-month high of $94,000, driven by easing import tariffs and strong corporate earnings. Spot Bitcoin ETFs saw record net inflows of $3.1 billion in five days, although a key derivatives indicator suggested bearish momentum, questioning the $100,000 target. Retail traders favor perpetual Bitcoin futures, with negative funding rates indicating stronger seller demand. Over $450 million in BTC short positions were liquidated since April 21. The S&P 500's 7.1% weekly gain contributed to Bitcoin's strength, but comments from President Trump about trade negotiations raised concerns about sustainability. The correlation between Bitcoin and the S&P 500 has decreased to 29%, indicating Bitcoin's status as an independent asset is strengthening. Gold's failure to maintain momentum after reaching $3,500 also supports this narrative. Increased demand for bearish leverage contrasts with professional traders' sentiment, while the two-month Bitcoin futures premium indicates growing bullish interest. Institutional accumulation could drive Bitcoin above $100,000 despite retail caution.
