Bitcoin is once again capturing the spotlight, holding firm above $94,000 while key network fundamentals flash green. With miner activity surging and analysts pointing to a potential price breakout, the crypto market is entering a phase of renewed optimism — and rising speculation that $105,000 could be next.
As of April 30, 2025, BTC is trading around $94,643, and bulls are eyeing higher targets. The biggest signal? Bitcoin’s hashrate has soared to levels not seen since its all-time peak, suggesting that confidence in the network is at an all-time high.
Bitcoin Hashrate Nears All-Time High – What It Means
Over the past 48 hours, Bitcoin’s hashrate has climbed sharply, hitting an estimated 926.4 EH/s on the 7-day average. This brings it dangerously close to the historic high of 1.0085 ZH/s, achieved shortly before the April halving.
Source: BitInfoCharts
A rising hashrate typically indicates:
- Increased miner participation;
- Greater network security;
- Long-term belief in BTC’s price trajectory.
According to data from BitInfoCharts, Bitcoin’s hashrate has jumped over 7% in a single day — a rare signal of robust network activity and miner optimism.
This surge is not just technical. It reflects a deep belief among miners that BTC’s price is headed higher, even as short-term volatility lingers.
Price Analysis: BTC Holds Above $94K, Bulls Eye $105K
Technically, Bitcoin is holding a strong bullish structure. After defending the $92,000 support level, BTC has continued forming higher lows, with today’s price consolidating near $94,600.
Source: Tradingview
Key levels to watch:
- $95,600 – next intraday resistance;
- $98,000–$98,500 – critical supply zone;
- $105,000 – breakout target if momentum holds.
The Relative Strength Index (RSI) sits at 58, giving Bitcoin room to run before overbought conditions appear. Meanwhile, MACD indicators are still in bullish territory, albeit with a slight slowdown in momentum. Trading volume has remained stable, with no major signs of distribution or whale selling.
On-Chain Signals and Miner Behavior
One of the most bullish signs? Miners aren’t selling — despite the post-halving opportunity to lock in profits.
This is further confirmed by:
- Decreasing BTC exchange reserves, signaling that whales and institutions are holding;
- Steady outflows from major centralized platforms;
- Continued ETF inflows, especially from long-term holders reallocating capital.
The combination of strong network security and reduced sell pressure paints a compelling picture for BTC’s upside potential.
Why Analysts Are Calling for $105K Next
Several prominent market analysts are pointing to $105,000 as the next logical price target. The reasoning is based on:
- Fibonacci extension levels from the last major retracement;
- Breakout patterns similar to previous bull cycles;
- The lack of major resistance between $98K and $105K.
Some also cite the psychological impact of crossing the six-figure threshold, which could attract even more capital from retail and institutional players alike.
Final Thoughts – The Case for a Breakout
Bitcoin’s current structure suggests a period of calm before a potential storm. With hashrate at record levels, miner confidence rising, and price holding above key supports, the foundation for a bullish continuation is strong.
If BTC can decisively break above the $98,000 zone in the coming days, the path toward $105,000 could open quickly — especially as ETF demand and institutional accumulation continue to climb.This isn’t just another rally. It might be the next leg of Bitcoin’s long-term bull market.
