Bitcoin shows bullish signs, with $3.2 billion inflows and reduced supply on exchanges. Experts predict a breakout past $106,000, supported by recent accumulation patterns from large investors, a favorable market sentiment, and optimistic forecasts suggesting long-term growth for Bitcoin.
Bitcoin (BTC) is on a noteworthy trajectory, with forecasts suggesting it could reach $106,000 soon. Recent reports from institutions like Matrixport and analyst Willy Woo hint at this possibility, bolstered by massive inflows and shifting market dynamics. The environment looks increasingly optimistic, but there’s also an underlying caution as the percentage of Bitcoin in profit has crossed a concerning threshold.
The current climate for Bitcoin looks promising. Data from CryptoQuant reveals that the supply of Bitcoin on centralized exchanges has dipped to a seven-year low, now standing at about 2.492 million BTC. That’s down from 2.488 million BTC just the previous week. It’s a telling sign that investors might be holding rather than selling in this market. So, clearly, less Bitcoin on exchanges could mean less selling pressure, which is typically bullish.
Adding to the bullish sentiment, around 56,164.88 BTC were withdrawn from CEX platforms in just the last seven days, according to Coinglass. This activity hints that many investors are accumulating Bitcoin, reducing any potential market selling pressure. Additionally, quite a significant amount of new money has entered the market recently, with CoinShares reporting inflows of $3.2 billion into Bitcoin funds at the end of April 2025.
As experts weigh in, the consensus remains largely positive. Matrixport points to Bitcoin nearing the critical $106,000 resistance level, hinting at a potential breakout soon. Previously, they had forecasted that incoming capital inflows could push Bitcoin past the $100,000 barrier, so their optimism seems rooted in solid analysis.
The accumulation by large investors, often referred to as whales, further emphasises this bullish outlook. Willy Woo, a well-known voice in the crypto space, recently tweeted that Bitcoin’s fundamentals have positively shifted. He underlined the bullish ascending triangle pattern appearing, which may signal a strong breakout ahead.
Moreover, there’s a noteworthy take from a survey indicating that 45.4% of South Korean investors believe Bitcoin will outshine gold over the next six months. This reflects a strong market sentiment in an important Asian financial hub.
Long-term predictions are also exceptionally bullish. BeInCrypto cites ARK Invest’s outlook that Bitcoin might soar to a staggering $2.4 million by 2030. This optimistic projection is tied to the increasing adoption of Bitcoin ETFs and growing interest from major financial institutions, suggesting that Bitcoin’s journey could go well beyond the $100,000 level.
So while current signals point toward growth, experts advise remaining cautious, especially with metrics indicating a rise in profit supply past 90%, which historically warns of potential corrections.
