Bitcoin is trading at a 40% discount, according to Charles Edwards. Over 36,000 BTC was withdrawn from major exchanges recently, indicating possible institutional buying as spot Bitcoin ETF inflows hit $3 billion in a week. A fractal pattern from late 2024 may push Bitcoin’s price past $100,000, although current resistance exists at $96,100.
Bitcoin is reportedly trading at a staggering 40% discount according to Charles Edwards, founder of Capriole Investments. His recent post on X highlights how, since the April 2024 halving event—which cut block rewards to 3.125 BTC—the estimated energy value of Bitcoin now stands at $130,000 based on mining costs and energy usage.
In the latest surge of activity, over 8,756 BTC, equating to around $830 million, was pulled from Coinbase on April 24. This pattern of negative netflows could suggest that institutional buyers are coming in, with ETF-related purchases reflecting a robust underlying demand. The timing coincided with substantial inflows into spot Bitcoin ETFs this last week. Analyst Eric Balchunas from Bloomberg remarked that it appears institutions have splurged on Bitcoin, racking up around $3 billion in just a few days.
On top of that, Binance also experienced massive withdrawals of 27,750 BTC on April 25. Joao Wedson, the founder of Alphractal, noted that this marks one of the largest outflows in the exchange’s history. Although these significant outflows and positive price actions could indicate bullish dynamics, it doesn’t guarantee a sustained rally. He cautioned that past events, like the 2021 crash linked to China’s crypto ban, show that large outflows don’t always preclude downturns.
The question on everyone’s mind: can Bitcoin’s fractal pattern push its price above the $100K mark in April? In fact, Bitcoin has recorded its highest weekly performance in 2025, marking significant gains not seen since November 2024. Observations suggest that Bitcoin is consolidating at elevated levels after a breakout, emulating behaviour noted in late 2024.
Looking closely at the data, the price of Bitcoin has surged by about 11% from April 21 to April 25, comparable to the activity seen during the November breakout phase. Analysts predict that a further jump of about 7-10% in the near term could elevate BTC to that coveted $100,000 threshold. However, it’s important to remember that while such fractal patterns may provide insights, they don’t come with guarantees. Currently, resistance at $96,100 could hinder a smooth ascent, unlike in Q4 of 2024 when Bitcoin enjoyed a freer path.
Finally, a word of caution: this article doesn’t offer any sort of investment advice. Every trading decision comes with risks, and it’s crucial that readers do their due diligence when navigating such volatile markets.
