Analysis: Positive factors such as increased accumulation by long-term holders and institutional investor buying have driven Bitcoin to rise to $95,000

May 5 (Tuesday) — Bitcoin rallied to a high of $81,300 on Tuesday, posting weekly and 30-day cumulative gains of 5% and 21%, respectively. Per CryptoQuant data, long-term holders have accumulated a net 331,000 BTC over the past 30 days (based on a moving average), worth roughly $26.7 billion at Tuesday’s market price. That’s nearly 1.6% of Bitcoin’s total supply, signaling increased accumulation amid the price recovery. Bitcoin’s rally has coincided with strong inflows into U.S. Bitcoin spot ETFs: $1.18 billion in net inflows over the past three consecutive days, including $532 million on Monday—underscoring growing institutional interest in BTC. MN Capital founder Michael van de Poppe noted on X Tuesday: “ETF inflows are back, a bullish signal for Bitcoin. I expect more inflows in the coming weeks as ETF demand remains strong.” Earlier reports have shown institutions are absorbing over five times the daily newly mined BTC supply. The $84,000 level is a key focus for traders, as it aligns with a CME gap formed in early February. Technically, Bitcoin has broken above its $77,500 upper bound and validated a bull flag pattern on the daily chart. A daily close above the 200-day exponential moving average (EMA) at $82,000 will confirm the uptrend’s continuation, with a target of $94,800 (an 18% overall gain) based on the bull flag’s measurement. A chart shared by crypto investor Cryptocupra shows a weekly MACD bullish crossover suggests Bitcoin may have formed a macro bottom, clearing the way for further upside.