Bitcoin (BTC) has opened the week with a strong rally, reaching a daily high of $88,804, which has drawn the attention of financial analysts who are pinpointing the $90,000 to $92,000 range as crucial for its short-term trajectory. This surge can be partly attributed to geopolitical factors, particularly a recent statement by US President Donald Trump regarding tariffs. The announcement that the upcoming “tariff number” on April 2 may be less severe than anticipated, especially with the exclusion of cars and microchips, has invigorated market confidence.
Ben Yorke, Vice President of Ecosystem at WOO, remarked, “The White House’s strategy to retreat from broad tariffs suggests an awareness of potential economic repercussions.” The positive market response is evidenced by an uptick in Bitcoin futures open interest, indicating that traders are leveraging long positions.
BTC/USDT 1-hour chart. Source: MacroCRG / X
The revival of the Coinbase Premium—a metric analyzing the price difference between BTC on Coinbase Pro and Binance—alongside seven consecutive days of spot BTC ETF inflows, signals a return of demand to the market. This shift is particularly significant as Bitcoin’s recent price movements have been largely characterized by selling pressures and reliance on perpetual futures trading.
Bitcoin Coinbase premium index. Source: CryptoQuant
Recent data from SoSoValue highlights US spot Bitcoin ETF net flows reaching $84.17 million, further supporting the narrative of recovering market sentiment.
Total spot Bitcoin ETF net inflow. Source: SoSoValue
Is a Rally to $100K Possible?
While signs such as the Coinbase premium rebound and positive ETF net flows indicate improving market sentiment, the critical inquiry remains whether the current bullish momentum can propel Bitcoin past the $100,000 mark. Lingling Jiang, a partner at DWF Labs, stated, “We’re observing the confluence of structural and narrative catalysts fueling Bitcoin’s upward trajectory.”
At the micro level, we can see a pattern: the resurgence of ETF inflows, the expanding stablecoin market, and breakout patterns across alternative cryptocurrencies collectively signal confidence and perhaps even renewed institutional participation. While market liquidity is strengthening, we notice that volatility remains subdued, and on-chain metrics reveal long-term investors accumulating rather than divesting.
From a technical perspective, Bitcoin is trading below the critical range that characterized its pricing from November 2024 to February 2025. Although it trades above both the 20-day and 200-day moving averages, it is still facing resistance at the descending trendline, which coincides with the 50-day moving average located between $89,500 and $90,000.
BTC/USDT 1-day chart. Source: TradingView
Independent market analyst Scott Melker pointed out that Bitcoin’s 4-hour relative strength index (RSI) shows a clear bullish trend characterized by a series of higher lows and higher highs. In a recent social media post, Melker noted, “All of this preceded by an oversold RSI with bullish divergence at the bottom on daily and below, which I was highlighting emphatically.”
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
