Bitcoin Tests Critical Resistance as ETF Inflows Surge and Safe-Haven Appeal Grows
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- Bitcoin faces resistance at $94,930 with momentum indicators signaling potential weakness.
- ETF inflows surge as SEC regulation eases and Arizona advances Bitcoin reserve legislation.
- Bitcoin mirrors gold and silver rallies, reinforcing its growing status as a safe-haven asset.
Bitcoin continues to trade below the $95,000 mark as it faces technical resistance, while broader developments in regulation, investment flows, and macroeconomic sentiment shape its outlook. Recent movements in Bitcoin align closely with traditional safe-haven assets, reflecting changing risk appetite among investors.
As of late April 2025, Bitcoin was trading around $94,113 against the U.S. dollar, approaching a major barrier near the 0.618 Fibonacci retracement level at $94,930. Technical charts reveal the completion of an inverse head and shoulders pattern, a formation often associated with trend reversals and bullish breakouts.
Moving averages further support the rally, with Bitcoin crossing above the 50-day extended moving average (EMA) and the 60-day simple moving average (MA). However, momentum indicators show signs of fatigue. The daily Relative Strength Index (RSI) stands at 67.39, nearing the overbought threshold, while the Stochastic RSI shows extreme levels of approximately 97.00 and 98.98.
If Bitcoin fails to achieve a major close above $96,000 in the coming days, possible retracement levels include the 0.5 Fibonacci zone near $91,363 and further downside toward $90,829. Traders are closely monitoring RSI and Stochastic RSI for confirmation of a possible bearish crossover that could signal near-term corrections.
ETF Activity, Bank Reporting Changes, and State-Level Initiatives
Institutional interest continues to build momentum. Bitcoin and Ethereum ETFs recorded their highest inflows in over two months, reflecting renewed appetite among investors. Several new filings have emerged, expanding the market beyond Bitcoin and Ethereum to include assets such as Solana (SOL), Sui (SUI), Near (NEAR), and XRP.
In regulatory developments, a new pro-crypto Chair at the U.S. Securities and Exchange Commission (SEC) is actively working to clarify the agency’s approach to digital assets. At the same time, banks are no longer required to report cryptocurrency activities, easing a previous regulatory burden and signaling a more open stance towards crypto banking relationships.
Arizona is scheduled to hold a third hearing on April 28, 2025, at the state level, regarding a proposal to establish a Bitcoin State Backed Reserve (SBR). If approved, Arizona would become the first U.S. state to integrate Bitcoin into its treasury operations formally.
Bitcoin’s Correlation with Safe-Haven Assets Strengthens
Comparing the movement of the Bitcoin futures with gold (XAUUSD) and silver (XAGUSD) shows that Bitcoin behaves more and more like other traditional store-of-value assets. When the markets started to open up in early 2025, it was seen that Bitcoin, especially gold and silver, had rather sharp declines; however, they showed signs of a great recovery from late March. As of the end of April, the current value of gold is about $2,380 per ounce, while silver is around $30.5.
The Billionaire Boodle news agency recently recognized Bitcoin as a ‘safe haven,’ thereby paving the way for its trend among traditional hedge assets. This suggests that macroeconomic risks are on the rise, and investors are diversifying their hedges.
Bitcoin’s monthly returns from 2019 to 2025 underline its volatile nature. Even as the global stock market headed to a minor positive growth of +13.67% in April 2025 after a bearish February at -17.39% and a marginal negative March at -2.30%, the stock markets do not leave room for saying otherwise. The trend of the prior year falls in May and June, and May 2021 especially recorded -35.3 while June 2022 recorded -37.28.
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