Bitcoin prices resumed their growth in the new week, promptly covering Friday's losses. The main cryptocurrency has recovered most of the drawdown of the first half of April, but there are still 2 short-term targets ahead at 87300 and 88500. After reaching these marks, the upward movement may pause, as BTCUSD buyers will surely want to take at least part of the profit from the almost 20% bounce in prices from the recent lows.
According to Bitwise, in Q1 2025 publicly traded companies were not scared of a serious drop in the price of bitcoin and increased its reserves by 16.1%. The total volume of the main cryptocurrency in public accounts reached 688 thousand coins, which are worth $57 billion. This is clear evidence that institutional investors are not panicking and are systematically building up the reserves of BTCUSD, especially when its price is declining.
Whale Alert confirms the positive trend. According to the company's information, more than $84 million worth of bitcoins were withdrawn from the world's largest cryptocurrency exchanges on Monday. Traders transfer BTCUSD to their wallets when they plan to keep a long position and do not consider selling in the short term. Whale Alert experts believe that minor market participants will definitely pay attention to the actions of major investors and join bitcoin purchases.
Despite the recent drop in the cryptocurrency market caused by global trade tensions, Joe Burnett of Unchained maintains a positive outlook. He estimates that investors' shift to gold and other safe haven assets is temporary. If optimism returns to the financial markets, cryptocurrencies will be one of the main beneficiaries, with bitcoin prices potentially rising to $1.8 million in the next 10 years.
The RSI indicator on the daily chart of BTCUSD is still far from the overbought zone, not preventing the price from further growth. The nearest bulls' benchmark is 88500.
Consider the following trading strategy:
Buy BTCUSD at the current price. Take profit — 88500. Stop loss — 82500.
This content is for informational purposes only and is not intended to be investing advice.
