Bitcoin (BTC) is back in the spotlight as it eyes a potential rally toward $90,000, buoyed by a resurgence in apparent demand. After weeks of bearish sentiment, the 30-day sum of apparent demand has shifted into positive territory—an early sign that market confidence may be returning. However, while this shift is encouraging, experts stress that it’s not yet confirmation of a full bullish reversal.
Historically, such rebounds in demand—like those seen in the 2021 cycle—often led to extended periods of consolidation before a meaningful rally emerged. “We’re seeing the same early signs of strength, but it’s too soon to call a trend change,” warned a CryptoQuant analyst.
Adding to the bullish undercurrent is Bitcoin’s soaring hash rate, which recently reached new all-time highs. “This signals increased network security, miner confidence, and potentially more decentralization,” said crypto analyst Miles Deutscher. A rising hash rate not only strengthens Bitcoin’s long-term fundamentals but also suggests miners are optimistic despite recent sideways price action.
$BTC's hashrate continues to explode to new highs, even with price going sideways.
— Miles Deutscher (@milesdeutscher) April 14, 2025
This signals:
• Increased network security
• Miner confidence
• More decentralisation (depending on root cause)
Overall bullish for Bitcoin. pic.twitter.com/FQ76sF1N3H
Institutional support also remains strong. MicroStrategy has expanded its holdings with a purchase of 3,459 BTC, bringing its total to 531,644 BTC—valued at nearly $36 billion. Japanese firm Metaplanet followed suit, buying 319 BTC for $26.3 million. This wave of corporate buying, along with reports that 79 publicly listed companies now hold Bitcoin on their balance sheets, highlights growing institutional conviction.
Currently, Bitcoin is testing a critical support level at $82,024, where 96,580 BTC were previously accumulated. A solid defense of this level could fuel the next leg up. The immediate resistance lies between $74,000 and $78,000—a range BTC has recently surpassed. Analysts now point to the $97,000 POC as the next major target, with projections of $110,000 by late summer if bullish momentum continues.
The most critical support for #Bitcoin sits at $82,024, where 96,580 $BTC were previously accumulated. A level worth watching closely! pic.twitter.com/LJwGU9lsvc
— Ali (@ali_charts) April 14, 2025
Still, caution is advised. As analyst Stockmoney Lizards noted, “We face multiple resistance hurdles before confirming the correction is complete.”
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
