Bitcoin Retreats Slightly From $95K as Traders Lock In Gains

Over the past 24 hours, Bitcoin’s price has dipped by 2.2% following a sharp 10% gain across the previous three days. The slowdown may reflect short-term traders taking partial profits after the recent surge.

The liquidation count for the recent cycle reached $337 million, with $215 million in long positions. This distribution points to a wave of forced exits by traders who entered at local highs, likely influenced by FOMO-based decision-making rather than technical signals or macro trend analysis.

Among the assets that experienced outsized losses was the TRUMP token, with liquidations totaling $23.8 million. The volatility was driven by a publicity event: an official announcement that Donald Trump would host a dinner for the 220 largest holders of the token. 

• Fear & Greed Index ticked up slightly to 53, remaining in neutral territory.
• The Altseason Index fell sharply to 13, signaling a further shift toward Bitcoin strength.
• BTC dominance climbed past 63.5%, reaffirming its central role in the current market cycle.

The alignment of these metrics strongly suggests that the market is not currently positioned for altcoin rallies. Investor attention remains concentrated on Bitcoin, which continues to dominate capital inflows and sentiment.

Bitcoin Stumbles at $95K: What Comes Next?

BTC’s latest rally met a wall at the $95,000 resistance mark, prompting a pullback toward $92,000 support. Should Bitcoin fail to hold above that threshold, a further slide toward earlier resistance zones and recent lows becomes increasingly likely.

Analysts are also watching for possible short-term price manipulation, which could drag Bitcoin into the $86,000–$88,000 range before any stabilization takes place.

CryptoQuant analyst Axel Adler Jr. reports a continued decline in the number of Bitcoin addresses depositing coins to centralized exchanges—a downtrend that began in 2022 and shows no sign of reversing.

As of now, the 30-day moving average of deposit activity has fallen to 52,000, well below the 365-day average of 71,000.

This data suggests a fourfold drop in selling activity over a three-year span, indicating a shift in long-term holder behavior and exchange reliance.

IBIT and HODL Dominate Spot Bitcoin ETF Inflows

On April 23, 2025, total net inflows into U.S. spot Bitcoin ETFs reached $917 million, slightly exceeding the $912.7 million recorded the previous day—a multi-month high.

BlackRock’s iShares Bitcoin Trust (IBIT) accounted for $643.2 million of that figure, marking its highest daily inflow since January 21, 2025.

ETF.com has named IBIT the top-performing new ETF, a designation endorsed by Bloomberg analyst Eric Balchunas, who described the selection as appropriate and well-aligned with market sentiment.

Simultaneously, the VanEck Bitcoin ETF (HODL) was recognized for its Best New Ticker, referencing the well-known crypto expression to “hold” despite volatility—an ethos central to the Bitcoin community.

Macroeconomic Uncertainty Limits BTC’s Upside Potential

While technical indicators remain bullish and trader sentiment leans positive, Bitfinex analysts highlight potential downside risks if further macroeconomic volatility emerges.

They argue that BTC’s current strength alone is insufficient to ensure a breakout to new historical highs, despite such expectations being widely priced into the market.

We’re not quite there yet, but if Bitcoin holds strength through the upcoming CPI, as well as ongoing Powell-related and equity earnings volatility, the decoupling narrative could evolve from “temporary divergence” to “regime change,” the analysts said, pointing out how Bitcoin seems to be moving out of sync with the stock market lately.

They noted the climbing dominance of digital gold, interpreting it as a quiet but powerful shift: users are beginning to approach Bitcoin less as a gamble, and more as a modern reservoir of value.

The next chapter in this unfolding narrative will likely be shaped by the inflation data release on May 13, a moment many expect to ripple through crypto markets.

This sentiment was echoed by John D’Agostino, the head of strategy at Coinbase Institutional, who observed that institutional players are now flocking to Bitcoin, viewing it as a safeguard against inflationary fiat systems and a buffer in times of geopolitical and financial uncertainty.

In his words, it marks a symbolic shift—a long-awaited triumph for crypto idealists, who have managed to shape the mindset of the very institutions they once set out to disrupt.

The pattern reinforces how deeply Bitcoin’s trajectory remains tethered to macro trends, stock market dynamics, and tariff-driven trade disruptions.

Still, if BTC manages to defend its key support zones and break through the present resistance, it could reclaim upward momentum—pushing swiftly toward $100,000 once again.

Read on: What Is the Next Bitcoin-Like Investment? Key Factors to Consider