Analysis: Long-term holders increasing their holdings and institutional investors buying may positively drive Bitcoin's price up to $95,000.

BlockBeats News, May 5th, Bitcoin rose to a high of $81,300, with weekly and 30-day cumulative gains reaching 5% and 21%, respectively. CryptoQuant data shows that, based on 30-day rolling data, long-term holders’ net supply increased by 331,000 BTC, worth approximately $26.7 billion at Tuesday’s current market price. This accounts for nearly 1.6% of the total supply, indicating increased accumulation as prices rebound.

Accompanying Bitcoin’s rise is strong capital inflow into the US spot Bitcoin ETF, with a total net inflow of $1.18 billion over the past three days. On Monday, there was a net inflow of $532 million, indicating growing institutional interest in BTC. Michael van de Poppe, founder of MN Capital, stated on X on Tuesday: “ETF capital inflows have returned to the market, and the market is turning upward toward Bitcoin.” He added, “I expect more funds to flow in over the next few weeks because ETF demand is currently very high.” According to previous reports, institutions are absorbing more than five times the daily newly mined BTC supply.

The $84,000 region is a key focus for many traders because it coincides with the CME gap formed in early February. From a technical perspective, after the price broke above $77,500, a bullish flag pattern was confirmed on the daily chart. A daily close above the 200-day exponential moving average (EMA) at $82,000 would confirm the continuation of the upward trend, with a target of $94,800 based on the flag’s measurement, representing an 18% overall increase. The chart shared by crypto investor Cryptocupra shows that after the weekly MACD issued a bullish crossover, Bitcoin’s macro bottom may have already formed, paving the way for further upside.