The markets are recovering from the trade-war turmoil, which has dragged the Solana price below $100 for a while. The bears did try to drag the price below the range for two consecutive days but failed, with the price reclaiming $120 in no time. Since then, the price has been consolidating around the gains, aiming to reclaim the crucial resistance at $125, which could clear the path to $135. With this, the SOL price could probably rise above the bearish influence, but if the selling pressure mounts, the token may face a significant setback.
Solana was one of the most exposed tokens after FTT following the collapse of the FTX exchange back in 2022. The SOL price faced a massive pullback and dropped to a single-digit figure from the highs above $240 following a huge uncertainty over the token. However, the token rebounded finely and surged close to $300, forming a new ATH. In a new update ahead of FTX’s repayment program scheduled for May, the exchange has unstaked large amounts of SOL, raising concerns over the upcoming price action.
The FTX exchange has just unstaked over 186,000 SOL worth nearly $22 million, which may push the price into a decisive phase. Although unstaking does not directly mean dumping, as the creditors may certainly not sell out their holding as soon as they get it, some probability of a pullback remains higher. Currently, no major price change is seen as the market sentiment remains bullish after the Bitcoin price climbed back above $81,000.
Should you be worried about the SOL price rally?
The SOL price in the short term is trading within an ascending triangle and is testing the upper resistance zone between $119.54 and $120.84. The RSI is rising while the Stochastic RSI has entered the overbought zone. Therefore, this carries some possibility of a pullback but as long as RSI maintains a strong ascending trend, the Solana price is believed to maintain a strong upswing and test the higher targets mentioned above.
A total of 22,000 Bitcoin options contracts will expire today with overall market activity remaining subdued as BTC price oscillates in a tight range between $82,000-$84,000. Amid tightening volatilities, traders have been ramping up selling activity recently. Analysts are predicting a BTC move either to $44,000 or to $112,000 based on macro conditions and other factors. another positive indicator is that Bitcoin ETF inflows have resumed once again with BlackRock’s IBIT leading the show.
22,000 Bitcoin Options to Expire Amid Flat Market Conditions
A total of 22,000 Bitcoin (BTC) options, with a Put/Call ratio of 0.84, are set to expire, carrying a notional value of $1.83 billion and a max pain point of $85,000, as per the data from Deribit.
Source: Deribit
Over the last week, the crypto market saw subdued market activity with the total number of option deliveries dropping by nearly 50%. Furthermore, short-term implied volatility (IV) saw a sharp decline, falling below 50% across the board for BTC, ahead of today’s Bitcoin options expiry.
Data shows that institutional options market makers are ramping up selling activity while tightening implied volatilities. This signals the expectations of a short-term sideways movement for Bitcoin ahead.
Where’s BTC Price Heading Next?
BTC price has struggled to break past the $84,000 resistance despite the recent initial thrust after the FOMC meeting. This shows that bulls have not mustered enough strength for a rally ahead. As the impact of the Trump tariff war on the US equity market intensifies, President Donald Trump has asked the US Federal Reserve to announce rate cuts soon.
Crypto market veterans like Arthur Hayes expect the Fed rate cuts to come by April which could push the Bitcoin price even higher. Crypto analyst Ali Martinez has outlined pivotal support and resistance levels for Bitcoin (BTC) using pricing bands. He noted:
A break and hold above $94,000 could propel Bitcoin toward a surge to $112,000.
Conversely, a drop below $76,000 would place the next critical support levels at $58,000 and $44,000.
Source: Ali Martinez
BTC’s daily trading volume has dropped by 31% to $25 billion ahead of today’s Bitcoin options expiry. It will be interesting to see whether BTC resumes the uptrend in the near time.
Bitcoin ETF Inflows Resume Again
US Bitcoin ETFs have recorded five consecutive sessions of inflows. On Thursday, March 20, Bitcoin spot ETFs recorded a total net inflow of $166 million, signaling growing investor interest in the market. BlackRock’s IBIT led the surge, achieving the highest single-day net inflow among Bitcoin spot ETFs at $172 million, as per data from Farside Investors.
Bitcoin (BTC) enters May 2025 with renewed momentum, gaining over 14% in the past 30 days and trading just 6.3% below the key $100,000 mark. Behind the price action, Bitcoin’s apparent demand has turned positive for the first time since late February, signaling a shift in on-chain behavior.
However, fresh inflows—especially from US-based ETFs—remain subdued compared to 2024 levels, suggesting institutional conviction has yet to fully return. According to MEXC COO Tracy Jin, if current conditions hold, a summer rally toward $150,000 is plausible, with sentiment turning increasingly bullish.
Bitcoin Apparent Demand Turns Positive, But Fresh Inflows Still Lacking
Bitcoin’s apparent demand has shown clear signs of recovery recently, rising to 65,000 BTC over the past 30 days. This marks a sharp rebound from the trough on March 27, when apparent demand—defined as the net 30-day change in holdings across all investor cohorts—reached a deeply negative level of -311,000 BTC.
Apparent demand reflects the aggregated balance shifts across wallets and provides insight into whether capital is entering or exiting the Bitcoin network.
While the current demand level is still well below earlier peaks in 2024, a meaningful inflection point occurred on April 24: Bitcoin’s apparent demand turned positive and has remained positive for six consecutive days after nearly two months of sustained outflows.
Despite this improvement, broader demand momentum remains weak.
The continued lack of significant new inflows suggests that most of the recent accumulation may be driven by existing holders rather than fresh capital entering the market.
For Bitcoin to mount a sustainable rally, both apparent demand and demand momentum must show consistent and synchronized growth. Until that alignment occurs, the current stabilization may not support a strong or prolonged price breakout.
US Spot Bitcoin ETF Inflows Still Far Below 2024 Levels
Bitcoin purchases from U.S.-based ETFs have remained largely flat since late March, fluctuating between daily net flows of -5,000 to +3,000 BTC.
This activity level sharply contrasts with the strong inflows seen in late 2024, when daily purchases frequently exceeded 8,000 BTC and contributed to Bitcoin’s initial rally toward $100,000.
So far in 2025, BTC ETFs have collectively accumulated a net total of 28,000 BTC, well below the more than 200,000 BTC they had purchased by this point last year.
This decline shows a slowdown in institutional demand, which has historically been key in driving major price movements.
Bitcoin: Net Cumulative Inflows to US Spot ETFs by Year. Source: CryptoQuant.
There are early signs of a modest rebound, with ETF inflows beginning to tick higher recently. However, current levels remain insufficient to fuel a sustained uptrend.
ETF activity is often viewed as a proxy for institutional conviction, and a notable increase in purchases would likely signal renewed confidence in Bitcoin’s medium-term trajectory.
Until those inflows return in force, the broader market may struggle to generate the momentum needed for a prolonged rally.
Bitcoin Nears $100,000 as Momentum Builds Despite Macro Pressure
Bitcoin price has gained over 14% in the past 30 days, rebounding strongly after dipping below $75,000 in April.
This renewed momentum comes as BTC shows relative resilience amid broader macroeconomic volatility and policy-driven pressures, including Trump’s tariff measures that have weighed on risk assets.
While the entire crypto market has felt the impact, Bitcoin appears to be detaching slightly, showing less sensitivity to these external shocks than other digital assets.
BTC now sits just 6.3% below the $100,000 mark and remains under 17% from a potential move toward $110,000. According to Tracy Jin, COO of MEXC, sentiment is turning positive again:
“Beyond immediate price action, the growing institutional appetite and shrinking supply mechanisms against the macroeconomic uncertainty backdrop point to a structural shift in Bitcoin’s role within the global financial market. BTC is used to hedging against inflation and the fiat-based financial model. Its liquidity, scalability, programmability, and global accessibility offer a reliable modern alternative to traditional financial instruments for many corporations,” Jin said.
According to Jin, a summer rally towards $150,000 is plausible. She stressed that the $95,000 range will likely become a launch point for the brewing decisive breakout above $100,000 in the coming days.
” Should global trade tensions stabilize further and institutional accumulation continues, a summer rally towards $150,000 is plausible, potentially extending towards $200,000 by 2026. Overall, the external background remains favorable for the continuation of the upward movement, especially given the growth of stock indices on Friday, which could support Bitcoin over the weekend.”
Per a recent statement released by the United States SEC, spot Ethereum and Bitcoin ETFs will now be able to perform in-kind redemptions for their clients. This move represents a change from the previous requirement that limited these transactions to cash only. New SEC Regulation Puts Bitcoin ETFs on the Same Standards as Gold ETPs Based
