Bitcoin price forecast enters a critical phase as BTC trades near record highs. While macro trends and ETFs support the rally, on-chain activity warns of a looming correction, with long-term holders offloading coins near peak levels.
Bitcoin price tops $94K setting new peak in 3 consecutive days
Bitcoin extended its recent rally to reach a new all-time high of $94,220 on April 23, climbing nearly 4% over the last 24 hours. This marks the third consecutive day the leading cryptocurrency has posted a fresh peak, beginning April 20.
The bullish momentum follows renewed macroeconomic uncertainty, as former President Donald Trump intensifies political pressure on Federal Reserve Chair Jerome Powell, reigniting investor concerns over monetary policy direction.
Traders and institutional players appear to be pricing in heightened volatility in traditional markets, as Trump publicly criticized the Fed’s current leadership and reaffirmed his stance on aggressive tariffs.
These statements have catalyzed a rotation of capital from risk-weighted equity sectors into Bitcoin and related crypto products. This trend is in line with BTC’s historical behavior as a hedge asset during periods of political and monetary instability.
Bitcoin ETFs pulled highest inflows since inception
Bitcoin ETFs posted their strongest single-day net inflow in 2025 on Tuesday, with over $921 million added to fund holdings, according to Farside data. The record-breaking inflow underscores rising institutional demand, particularly as macroeconomic concerns and trade policy risks escalate.
The spike in ETF allocations occurred as traditional stock indices wavered midweek amid renewed trade rhetoric from Trump’s camp and speculation surrounding the potential ousting of Fed Chair Jerome Powell.
Analysts interpret this as a reallocation of capital, with Bitcoin ETFs benefitting from risk-off sentiment in equities.
The $100,000 psychological barrier now appears within reach, yet on-chain signals suggest underlying risks that could derail momentum.
Age Consumed surged to 12 million BTC signalling intense profit take from long-term holders
While price and institutional inflows point to a strengthening bull cycle, on-chain data tells a more nuanced story.
According to Santiment, Bitcoin’s Age Consumed—a metric tracking the movement of previously dormant coins—spiked dramatically from 2.03 million BTC on April 19 to over 12 million BTC by April 23.
This sharp increase in Age Consumed signals that Bitcoin long-term holders are moving large quantities of previously idle coins, often associated with profit-taking or strategic exits.
The sudden surge in Age Consumed typically reflects distribution from older wallets, a trend that has historically preceded local tops or significant pullbacks.
The movement suggests that some long-term investors may be capitalizing on Bitcoin’s latest highs, potentially dampening bullish momentum in the near term.
While not definitive on its own, the Age Consumed spike introduces a cautionary signal as Bitcoin approaches the psychological $100,000 mark. If selling pressure from long-term holders intensifies, it could introduce volatility or stall further gains—even in the face of bullish macro and institutional trends.
Bitcoin price forecast today: Bull trap risk looms near $94K as weekly chart hits upper Bollinger band
Bitcoin price forecast signals today show bulls attempting to breach the $95,000 as BTC taps the upper Bollinger Band on the weekly chart. While the rally from sub-$80,000 lows marks a strong technical rebound, traders may need to exercise caution.
BTC price has now entered the resistance zone near $94,000–$107,000, where past weekly candles have previously faced rejection.
The Bollinger Bands (BB) upper line at $107,383 acts as a key resistance ceiling. Unless this level is breached with volume, BTC risks rejection at the top of its volatility envelope.
Momentum indicators show mixed signals. The Relative Strength Index (RSI) stands at 57.37, just above its moving average (54.20), hinting at mild bullish bias—but still well below overbought levels.
However, the RSI Moving Average Histogram (RSI-MA) shows a divergence, with the slower red MA at 60.61 still declining while the green bar is only at 47.61. This suggests momentum remains fragile.
Given these conditions, Bitcoin price forecast may be susceptible to a bull trap if price fails to decisively close above $94,000 with strong follow-through. Without confirmation, profit-taking could trigger a reversal toward the mid-Bollinger level around $92,200 or lower support near $77,000.
The post Bitcoin Price Today: This 12 Million BTC Signal Could Block $100,000 Rally appeared first on CoinGape.
