Bitcoin’s recent rally has raised hopes for a price of $100,000; however, analyst Markus Thielen warns of potential pitfalls due to inadequate stablecoin inflows. Spot Bitcoin ETF inflows have surged, indicating a demand-driven rally, with key resistance levels at $95,000 possibly triggering higher prices if market conditions improve.
Recent analyst insights highlight that while Bitcoin has surged by 12% over the past week, expectations for it reaching $100,000 should be tempered due to mixed signals from stablecoin indicators. Markus Thielen, head of research at 10x Research, noted that the stablecoin minting indicator has not yet returned to high-activity levels, leading to caution regarding the sustainability of the rally.
Thielen elaborated that although a bullish reversal signal from a falling wedge pattern suggests Bitcoin could approach $99,000, the lack of strong stablecoin inflows raises doubts about sustained price support. At the time of reporting, Bitcoin traded at $93,133, reflecting an 11.42% increase over the past week. He pointed out that stablecoin inflows indicate more secure investment compared to futures leverage, which may attract short-term traders seeking quick gains.
Spot Bitcoin ETFs in the US recorded significant inflows of $912.7 million on April 22, marking a notable increase since January 17. According to analyst Pav Hundal from Swyftx, these numbers indicate a genuine demand-driven rally rather than a speculative price move by futures traders. Furthermore, stable economic news could propel prices to new heights sooner than anticipated, potentially setting Bitcoin on a fast track to $100,000.
Despite market volatility stemming from broader financial conditions, including tariffs imposed by US President Donald Trump, signs of a potential easing stance could bolster market sentiment. Thielen identified the $95,000 price point as a critical resistance level, which could trigger further upward momentum if market conditions remain strong and stable.
