Analysis: Long-term holders increasing their positions and institutional investors buying in may drive Bitcoin up to $95,000

According to Cointelegraph, Bitcoin surged to a high of $81,300, resulting in weekly and 30-day cumulative increases of 5% and 21%, respectively. CryptoQuant data shows that, based on 30-day rolling data, long-term holders have net added 331,000 BTC, valued at approximately $2.67 billion at Tuesday's current market price. This accounts for nearly 1.6% of the total supply, indicating that accumulation has strengthened as prices rebound.

Accompanying the rise in Bitcoin is a strong inflow of funds into U.S. spot Bitcoin ETFs, with a total net inflow of $1.18 billion over the past three days. On Monday, the net inflow was $532 million, indicating increased institutional interest in BTC. MN Capital founder Michael van de Poppe stated on X on Tuesday, "ETF inflows have returned to the market, and the market is turning upward towards Bitcoin." He added, "I expect more funds to flow in over the next few weeks, as there is currently high demand for ETFs."

As previously reported, institutions are absorbing more than five times the daily newly mined BTC supply. The $84,000 region is a focal point for many traders, as this position coincides with the CME gap formed in early February. From a technical perspective, after the price broke above the upper boundary of $77,500, it has validated a bullish flag pattern on the daily chart. A daily closing price above the 200-day exponential moving average (EMA) at $82,000 will confirm the continuation of the upward trend, with a target of the bullish flag's measured target of $94,800, at which point the overall increase will reach 18%.

A chart shared by crypto investor Cryptocupra shows that after the weekly MACD produced a golden cross, the macro bottom for Bitcoin may have formed, paving the way for further upward movement.