Bitcoin is gaining traction as it climbs toward the $100,000 milestone. A confirmed pennant pattern breakout, rising ETF inflows, and aggressive whale accumulation are reinforcing the bullish outlook. Institutions like MicroStrategy and MetaPlanet are doubling down on BTC, while US spot ETFs absorbed nearly 19,000 BTC in just one week, almost six times the new supply.
Bitcoin (BTC) has been on an incredible upward trend, rising almost 30% since April 2025. This rally puts BTC tantalizingly close to the much-anticipated and psychologically important US$100,000 price point. At press time, Bitcoin was trading at approximately US$94,400, its highest since February. Although there was a slight dip of 1.13%, overall sentiment remains strongly bullish.
Bitcoin duplicated this textbook formation to perfection. Following a rapid recovery from below US$75,000 in early April to around $93,000 toward the end of April, BTC built a pennant with the lines of support and resistance converging. The consolidation maintained tightness near the 0.236 Fibonacci retracement point at US$93,759, with the market allowing time to digest the gains.
Then, on May 2, BTC broke through the top trendline of the pennant, marking a bullish continuation. The Bitcoin price temporarily rose above $94,800 with the help of moderate trading volume. This breakout validation then indicated a measured move taking Bitcoin to the US$100,000 - US$107,000 region, corresponding to historic resistance and earlier highs of late 2024 and early 2025.
With the pattern now fulfilled and confirmed, analysts expect Bitcoin to complete the pennant's upside target, essentially copying the flagpole length from the point of breakout. That means a price action from the breakout range US$93K to US$107K, exactly where the next significant resistance level is.
The RSI remains above 60, suggesting that while the asset is nearing overbought territory, there is still room for upside. The breakout candle was supported by moderate but rising volume, indicating improving market participation.
MicroStrategy has announced a US$21 billion equity offering, the proceeds of which would be used to purchase more Bitcoin. Being the largest corporate BTC holder, the announcement is a strong bullish signal for the market.
MetaPlanet, a Japanese company, announced the issuance of JPY 3.6 billion worth of 0% ordinary bonds to increase its Bitcoin reserves, which as of April 23 were 5,000 BTC worth more than US$483 million. This is similar to MicroStrategy's capital-market fundraising strategy to increase crypto reserves.
Geoff Kendrick, Standard Chartered's Head of FX Research, said, "Bitcoin might now be a better hedge than gold," referencing growing institutional confidence and diversifying demand. With solid fundamentals, steady adoption, and institutional backing, most analysts concur that BTC's breakout over US$100,000 is not a matter of "if," but "when."
US-listed Bitcoin spot ETFs added a whopping 18,644 BTC over the last week, close to six times the 3,150 BTC mined over the same time. This intense institutional demand, noted by HODL15Capital on May 4, indicates increasing investor confidence, even as Bitcoin's price stabilized around US$94,000.
Despite a temporary pullback from a six-week high of US$97,700 reached on May 2, the robust ETF inflows of US$1.8 billion over five days highlight the asset's sustained demand. There has been only one outflow day since mid-April, indicating sustained institutional interest despite Bitcoin's recovery trend.
Regarding current momentum, whale buildup, and institutional buying, Bitcoin will likely challenge the US$100,000 level in the next two to three weeks, absent any significant macroeconomic events. The above-pennant breakout and sustained higher lows on the daily chart offer solid technical support.
If BTC holds above $93,759 (0.236 Fib level) and keeps drawing buying volume, it may reach US$100,000 by mid to late May 2025. Additional momentum and news-related catalysts like ETF approvals, geopolitical changes, or additional institutional entries may bring this timeline forward.
All eyes are on Bitcoin now as it marches on to $100,000. With tight technical signals, significant whale buying, and insatiable institutional demand, the setting is all for a breakout. Short-term volatility aside, the bigger picture speaks of continuing the bull trend.
Investors will want to pay attention to resistance at $100K and $107K and observe levels of support at $92K and $85K for buying chances. The marketplace is poised, and Bitcoin's upcoming big benchmark looks nearer than ever.