Bitcoin has surged over 12% in the past week, reclaiming the $93,000 mark and reigniting bullish sentiment across the market. But while the rally has sparked optimism about a run to six figures, some analysts are urging restraint, pointing to weak stablecoin activity as a lingering concern. Bitcoin Breaks Out According to Markus Thielen, head of research at 10x Research, Bitcoin’s breakout from a falling wedge pattern—a formation often seen as a bullish reversal—could technically lead prices to as high as $99,000. However, in his April 23 market report, Thielen expressed doubt over the momentum’s longevity. “The absence of strong stablecoin inflows raises questions about follow-through,” he cautioned, highlighting a key liquidity metric that often correlates with more durable rallies. Thielen emphasized that while futures leverage has spiked, indicating speculative enthusiasm, it’s the return of “stickier money” through stablecoin minting that truly underpins sustainable market moves. Without that foundational support, the current rally might be flying on borrowed time. Institutional Interest Spikes as Trump Softens Stance What gives the rally more weight is the record-setting influx into spot Bitcoin ETFs . On April 22 alone, U.S.-listed Bitcoin ETFs drew in $912.7 million—their highest single-day net inflow since January 17, according to Farside data . Analysts like Swyftx’s Pav Hundal interpret this surge as a signal that the rally is more than just retail-driven euphoria. “This is a true, demand-led rally,” he noted, dismissing the idea that short-term futures traders are solely behind the price pump. Following U.S. President Donald Trump’s earlier tariff threats in February—which rattled global markets—recent comments have hinted at a potential softening of his trade war stance . Traders have begun interpreting this as a potential easing of economic uncertainty, which could improve risk appetite across the board, including in crypto. Thielen sees $95,000 as the next key resistance zone—one that, if breached, could trigger a cascade of short liquidations and force further upside. Still, he remains cautious, stating that a sustained move toward $100,000 will require more than technical breakouts and speculative fervor—it needs true liquidity support. The post Bitcoin to $100K? Analysts Cheer, But Stablecoin Silent appeared first on TheCoinrise.com .
