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Highlights
- Bitcoin price broke above $97,000 on Thursday, fuelled by 21Shares’ SUI ETF filing eased regulatory fears.
- Strategy’s $21 billion equity offering aims to increase BTC holdings beyond 553,000, reaffirming bullish corporate commitment.
- RSI above 70 signals trend strength, while price holds above $97,000 support—chart structure favors continuation toward $105K.
Bitcoin price surged 3% on Thursday, climbing above $97,000 for the first time in two months. The rally was fueled by multiple bullish catalysts that reinforced investor confidence in BTC’s mid-term trajectory.
BTC price surges on ETF optimism and Saylor’s $21B push
Bitcoin (BTC) rose 3.4% this week, trading near $97,000 at press time. According to Coingecko data, Bitcoin price traded as high as $97,341, driving its market above $2 trillion for the first time since early March.
The BTC price surge followed news that 21Shares filed for a spot SUI ETF, helping restore regulatory sentiment.
This came just days after the SEC postponed decisions on seven altcoin ETF applications.
The new SUI filing suggests the delays are procedural, not signs of rejection, which reassured markets.
Adding to the bullish momentum, Strategy, led by Michael Saylor unveiled Q1 results and a massive new investment plan.
Despite a $4.2 billion unrealized loss in Q1 2025 due to quarter-end BTC pricing, the company launched a $21 billion at-the-market (ATM) equity offering to buy more Bitcoin.
Strategy currently holds over 553,000 BTC at an average cost of $68,459. The firm also raised its 2025 BTC yield target from 15% to 25%, citing strong early-year performance.
Importantly, Strategy’s report highlighted a $12.7 billion accounting uplift from the switch to fair value accounting, boosting retained earnings. This marks a broader shift in corporate Bitcoin adoption, with over 70 public companies now holding BTC on their balance sheets.
Institutional momentum is now building on multiple fronts:
Renewed ETF activity, fair value accounting for corporate holders, and continued capital inflows. BTC’s sharp rebound above the $96,500-$97,000 zone confirms this bullish bias.
A weekly close above $97,000 could unlock the path to $105,000 in the near term, with some analysts projecting a move toward $145,000 by Q3 if macro tailwinds persist.
Bitcoin Price Forecast Today: BTC Targets $105,000 as RSI Signals Bullish Continuation
Bitcoin price is currently trading at $97,089, up 0.62% on the day, and poised to extend its rally toward $105,000. Price has broken decisively above the $90,000 resistance zone, with strong bullish continuation confirmed by the clean daily candle structure and rising volume.
The 50-day and 200-day simple moving averages (SMAs), shown in green and red, have flattened out but remain below current price, signaling that BTC has reclaimed long-term trend support with conviction.
Other Bitcoin price forecast signals also support this bullish thesis. The Relative Strength Index (RSI) at 70.49 has entered overbought territory, typically a warning sign, but in trend-confirming rallies like this one, it often reflects strong institutional interest rather than exhaustion. RSI continues to diverge positively from its 14-day moving average, currently at 65.08, echoing bullish signals.
A move above $98,000 would open a clean path to $105,000, while support now lies at the $90,000 and $86,000 levels. A sudden break below these would invalidate the current bullish structure, although such a pullback appears unlikely given BTC price resilience above the 100-day SMA (blue) and low sell volume near resistance.
Frequently Asked Questions (FAQs)
1. Why did Bitcoin price surge past $97,000?
2. What is Strategy’s role in the current BTC rally?
3. What could drive Bitcoin toward $105,000?
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