Bitcoin Price Analysis: BTC Slumps Over Weekend As Rally Loses Momentum

Bitcoin (BTC) slipped below $95,000 over the weekend after being rejected at a key resistance level on Friday, allowing sellers to take control. The flagship cryptocurrency is down over 1% in the past 24 hours and trading around $94,150, with sellers having the upper hand. 

Analysts believe BTC is slipping back into its consolidation range and could trade between $90,000 and $96,000 in the short term. 

Tether AI Platform To Support Bitcoin Payments 

Tether AI, Tether’s upcoming artificial intelligence (AI) platform, will support payments in major cryptocurrencies, including Bitcoin (BTC) and USDT. Tether CEO Paolo Ardoino teased the launch of the new platform on X, designed to offer “personal infinite intelligence.” Ardoino stated that the new AI platform will integrate Bitcoin and USDT, allowing users to complete transactions directly through P2P networks. Ardoino stated that Tether AI would not use application programming interface (API) keys, and will not depend on centralized control points. Instead, the platform will offer a “fully open-source AI runtime” running on an “unstoppable peer-to-peer network” and be “fully modular and composable.” Tether AI will also be capable of adapting and evolving on any hardware and device, according to the Tether CEO. 

Only Bitcoin Will Unlock Institutional Capital: Mr Wonderful Kevin O’Leary

During a recent interview, Kevin O’Leary offered a strategic take on Bitcoin, stating it was the cornerstone of any serious portfolio. O’Leary said that the flagship cryptocurrency has decoupled from traditional equity indexes, a significant development suggesting the asset is maturing into a distinct investment category. O’Leary highlighted that Bitcoin is beginning to establish itself as a hedge and a store of value. He also disclosed his portfolio allocations, revealing he holds 1.5% in Bitcoin, with a broader 19% exposure to the crypto sector, including Coinbase and Robinhood. 

The Shark Tank personality believes these platforms could benefit massively if regulatory frameworks like the Stablecoin Act and the Genius Act are passed, streamlining digital payments and reducing costs. O’Leary stated, 

“If you want exposure to crypto volatility, it’s bitcoin. I mean, it’s not ETH— ETH is not the go-to place unless you start to understand the utility of it. And then you start to ask yourself, well, ‘why am I only in ETH? Why am I not in an L2? It’s like, why am I just doing ETH? So I think for the billions that are waiting to come into crypto, it’s not gonna be ETH—it’s gonna be Bitcoin itself. And you know, frankly, there’s a lot of people that say, I don’t need anything else. If I want exposure to crypto volatility, I’ll just buy Bitcoin. And they haven’t been wrong.”

Spot Bitcoin ETFs Scooped Up 6x More BTC Than Miners Produced 

US spot Bitcoin ETFs bought nearly six times as many Bitcoin as were produced by miners last week. The funds bought 18,644 BTC over the past week, while miners mined only 3,150 BTC. The ETFs reported total inflows of around $1.8 billion and have only recorded one day of outflows since April 16. The accumulation comes as BTC registered a substantial increase to reclaim $97,000 and surge to an intraday high of $97,996 on Friday. ETF Store president Nate Geraci stated, 

“Spot Bitcoin ETFs have surged into a nearly $110 billion category, despite facing significant distribution hurdles.”

However, he stated that wealth management platforms restrict or prohibit financial advisors and brokers from recommending or providing access to Bitcoin ETFs. 

“That’s why I’ve said spot bitcoin ETFs are operating with one hand tied behind their backs. Imagine what might happen as these restrictions are lifted.”

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) faced selling pressure over the weekend as it lost momentum after reaching an intraday high of $97,996 on Friday. Popular trader CrypNeuovo presented a short-term bull case in his latest outlook, stating, 

“In the case of long triggers, I like these two setups: Either a new local high ($98k) where we can see some LTF liquidations after a reclaim of the previous range highs (upper yellow line), or from much lower from the 1D50EMA retest if it's successful.”

Another trader and analyst, Daan Crypto Trades, pointed at a new “gap” to the upside on CME Group’s Bitcoin Futures Markets as a potential price magnet. 

“These gaps have generally been getting closed within 1-3 days recently so it can be useful to keep an eye on it.”

BTC’s momentum has stalled in recent sessions, as it struggles to build momentum for one final push and break past the crucial $100,000 mark. The flagship cryptocurrency registered an increase of nearly 1% on Friday (April 25) to settle at $94,776. However, it lost momentum over the weekend, registering a marginal drop on Saturday and then falling 0.99% on Sunday to settle at $93,802. BTC started the previous week on a bullish note, rising 1.29% and settling at $95,010. However, it lost momentum on Tuesday, falling 0.70%, slipping below $95,000 and settling at $94,341.

Source: TradingView

BTC encountered volatility on Wednesday as buyers and sellers struggled to establish control. Sellers ultimately gained the upper hand as BTC registered a marginal decline and settled at $94,160. Sentiment changed to bullish on Thursday as BTC rallied, rising over 2% to surge past $96,000 and settle at $96,452. Buyers retained control on Friday as the price continued to push higher, reaching an intraday high of $97,996 before declining to settle at $96,939, ultimately registering an increase of 0.50%. Despite the positive sentiment, BTC lost momentum over the weekend, dropping 0.98% on Saturday and 1.67% on Sunday, slipping below $95,000 and settling at $94,387. The current session sees BTC marginally up as buyers and sellers struggle to establish control.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.