Bitcoin price has continued with its ascent, reaffirming its action above the $85k support level for the fourth successive session. The coin traded at $85,824 at the time of writing, up by 1.47% on the daily chart. Its momentum indicators affirmed bullish control of the market, with the daily RSI at 54 , and the 10-day Exponential Moving Average (EMA) above the 20 and 50 EMA levels.
The upside narrative for Bitcoin price also holds true based on the positive returns at the spot ETF market. According to Coinglass data, Bitcoin spot ETFs reported $1.5 million worth of net inflows, snapping a seven-session losing streak.
Meanwhile, Bo Hines, the director of Trump’s Digital Asset Advisory Board hinted on Monday that the US Government could use funds generated from tariffs to purchase Bitcoin. If actualised, that could help offset the recent downward pressure exerted on Bitcoin price by the hiked trade tariffs.
Elsewhere, a recent Bitwise report shows that corporations bought 95,431 coins in the first quarter of 2025, bringing their holdings to 3.28% of the total 21 million BTC supply. That affirms growing institutional acceptance of the coin, which augurs well for the BTC price upside.
In addition, IntoTheBlock reports that investors moved net $682.22 million worth of Bitcoin from exchanges in the last seven days, signaling reducing selling pressure. That, too adds credence to the likelihood of price gains by Bitcoin.
Bitcoin Price Prediction
Bitcoin price pivots at $85,000 and the momentum favours the buyers to stay in control. The upward action will likely meet initial resistance at $85,120. However, an extended control by the bulls will clear that barrier and potentially send the price higher to test $86,960.
On the downside, the sellers will be in control if the price breaks below $85,000. That will likely see the first support come at $83,975. The upside narrative will be invalid below that level. Furthermore, the resulting momentum could take the price lower and test $82,960.
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