Bitcoin Holds $95,000 Despite Crypto Bill Delay – Analysts Say Move Towards $100K Could Follow

• Technical analysts highlighted $97,500 as the next major resistance level.
• Spot Bitcoin ETF inflows remained positive, though volumes slowed sharply from earlier in the week.
• Altcoins underperformed, with Cardano and Dogecoin leading declines among major tokens.

Bitcoin (BTC) continued to hold above $95,000 on Thursday night despite a delay in the markup of the crypto market structure bill. In fact, analysts think it could push higher “sooner rather than later.”

Bitcoin’s price edged 0.7% lower in the last 24 hours to around $95,400. On Stocktwits, retail sentiment around the apex cryptocurrency remained in ‘bullish’ territory, but chatter dipped to ‘normal’ from ‘high’ levels over the past day.

According to one analyst, Bitcoin has fully reclaimed the $95,000 zone. “The next crucial level is $97,500, which is the 50W EMA [50-week exponential moving average] level,” Ted Pillows wrote on X.

Another said the push to $100,000 could come “sooner rather than later” as liquidity builds above the current price mark.

Spot Bitcoin ETF Flows Slow Down

According to Farside Investors' data, spot Bitcoin ETFs continued to see net inflows on Thursday, though the total slowed to $100 million from $840 million a day earlier.

BlackRock’s iShares Bitcoin Trust (IBIT) led inflows, attracting $315.8 million, while Fidelity’s Wise Origin Bitcoin Fund (FBTC) and Grayscale’s Bitcoin Trust (GBTC) recorded outflows of $188.9 million and $36.8 million, respectively.

Retail sentiment on Stocktwits around IBIT remained in ‘bullish’ territory amid ‘high’ levels of chatter over the past day as the fund edged 0.4% higher in after-hours trade. FBTC and GBTC showed a similar uptick in overnight trade. Retail sentiment around FBTC improved to ‘extremely bullish’ from ‘bullish’ territory over the past day, while chatter remained at ‘high’ levels. GBTC saw retail sentiment steady in the ‘bullish’ zone, but chatter was subdued at ‘low’ levels.

Cardano, Dogecoin Lead Losses Among Crypto Majors

The overall cryptocurrency market edged 0.3% lower on Thursday night, still holding above the $3.3 trillion mark. CoinGlass data showed $245 million in liquidations over the past 24 hours.

Cardano (ADA) and Dogecoin (DOGE) led losses among the top 10 cryptocurrencies by market capitalization. Cardano’s price fell over 3% in the last 24 hours, while Dogecoin’s price dipped 2.3%. Both saw retail sentiment in ‘neutral’ territory on Stocktwits. 

Solana (SOL) and Ripple’s native token XRP (XRP) were also in the red. Solana’s price moved 1.5% lower while XRP’s price fell 1.2% in the last 24 hours. Like Cardano and Dogecoin, retail sentiment around Ripple was in the ‘neutral’ zone on Stocktwits. However, sentiment around Solana fell to ‘bearish’ over the past day.

Ethereum (ETH) and Binance Coin (BNB) outperformed Bitcoin with losses of less than 1% in the last 24 hours. Ethereum’s price edged 0.4% lower. While BNB’s price moved lower by just 0.1%. Tron (TRX) was the only cryptocurrency in the green among the top 10, rising 2.2% in the last 24 hours. 

Read also: Tom Lee-Backed BMNR Edges Higher After AGM Despite Speaker No-Shows – Chairman Signals Lighter Investment

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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