Price Analysis View Non-AMP

Bitcoin Price Analysis: BTC Price to $91k Before $100k Next

Published by
Steve Muchoki

After closing last week in an inverted hammer candlestick, Bitcoin (BTC) price faces a short-term bearish outlook. As the total crypto market cap slipped 3 percent to about $3.04 trillion in the past 24 hours, the flagship teased below $94k earlier on Monday.

According to the latest market data at the time of this writing, Bitcoin price had dropped about 1.2 percent in the last 24 hours to trade at about $94,195 on Monday, May 5 during the mid-North American trading session.

Bitcoin Network Record Mixed Reactions from Whale Investors

Ahead of the United States Federal Funds Rate and FOMC statement this week, on-chain data analysis shows a mixed reaction from whale investors. Bitcoin maximalists, led by Strategy and Semler Scientific continued to accumulate regardless of price action.

Notably, Strategy announced on Monday that it acquired 1,895 BTCs last week, thus currently holding about 555,450 Bitcoins. Semler Scientific announced that it acquired 167 BTCs in the past few days and currently holds about 3,634 coins, thus becoming the fourth-largest Bitcoin Treasury Company in the United States.

As a result, market data analysis from CoinShares shows that Bitcoin’s investment products recorded a net cash inflow of about $1.8 billion last week. 

Meanwhile, on-chain data analysis from IntoTheBlock shows that large transaction volume on the Bitcoin network declined by $139 billion in the past seven days.

Midterm Expectations for BTC Price

Since April 9, when U.S. President Donald Trump posted it was a great opportunity to buy, Bitcoin price has gained over 18 percent to date. However, the bullish momentum has significantly declined after the BTC price retested the resistance/support level around $96.5k.

In the two-hour timeframe, the BTC price has broken down from the recently established rising logarithmic trendline. With the MACD line having crossed below the zero line, the short-term bearish outlook has gained more ground. As a result, BTC’s price is well positioned to retest the support level around $91k before rallying towards $100k in the near future.

Steve Muchoki

Recent Posts

Pi Network Price Prediction for June 2025

Pi Network made an impressive start this month, but it was short-lived. The token has…

May 30, 2025

How James Wynn Lost $60 Million in a Week Trading Bitcoin

In the  world of cryptocurrency trading, fortunes can be made — and lost — in…

May 30, 2025

PEPE Price Prediction: Can It Break $0.000015 After Trump’s Viral Post?

Memecoin Pepe (PEPE) is back in the spotlight, with almost 10% fluctuation from $0.00001440 to…

May 30, 2025

Ripple News: XRP and Solana Futures Go 24/7 on Coinbase Beginning June 13

Coinbase Derivatives recently launched 24/7 trading for Bitcoin and Ethereum futures, which made it the…

May 30, 2025

Why is XRP Price Going Down Today?

XRP is under pressure today, with its price falling to around $2.16 as the broader…

May 30, 2025

Why Is Crypto Going Down Today?

After a strong rally, the crypto market is finally cooling down. In the last 24…

May 30, 2025