Bitcoin retreats on profit-taking after breakout

24 April 2025

Bitcoin Retreats on Profit-Taking After Breakout, Institutional Inflows Keep Sentiment Positive

Today’s markets analysis on behalf of George Pavel General Manager at Naga.com Middle East

Bitcoin experienced a slight pullback after rallying past the USD 94,000 mark, following a breakout above the key USD 90,000 resistance level. The retracement was largely driven by profit-taking after reaching a seven-week high. However, the cryptocurrency remains well-supported and is currently consolidating above USD 92,000, although volatility could remain high as investors react to developments around US policies and economic outlook.

Institutional demand has also reaccelerated, evidenced by a record net inflow of 11,898 BTC into U.S. spot Bitcoin ETFs, marking the highest single-day inflow since November last year, and exceeding the 2025 daily average. ETF recorded three consecutive days of large inflows with a total exceeding USD 2 billion. This substantial increase reflects renewed institutional confidence and may indicate the beginning of a broader reallocation into digital assets. Despite short-term volatility, the structural backdrop for Bitcoin remains supportive.