Bitcoin tops $97,000 following a bullish flag breakout, as ETFs and firms like Strategy and MetaPlanet race to accumulate more BTC. Could this push Bitcoin to a new all-time high?
On May 1, Bitcoin surged by 2.44%, breaking above the $97,000 mark. After hitting a 24-hour high at $97,315, BTC currently trades at $96,637.
As the crypto market rebounds, Bitcoin now boasts a market cap of $1.91 trillion. Bullish momentum is accelerating, and growing institutional support and insights from veteran market analysts point toward a potential new all-time high.
Bitcoin Price Analysis
In the 4-hour chart, BTC exhibits consecutive breakouts from bullish flag patterns. The most recent breakout rally has created a swing high at $97,433. 
Bitcoin price chartBullish flags are considered trend continuation patterns, often extending ongoing rallies. Hence, the recent breakout run improves the upside potential in BTC prices.
The rally is currently consolidating just below the R1 pivot resistance at $97,981, reflecting the bulls’ struggle to surpass the $98,000 threshold.
Notably, the breakout has triggered a bullish crossover in the MACD and signal lines. Despite a minor pullback of 0.49% over the past two hours, Bitcoin may be preparing to retest the broken flag pattern before continuing upward.
Bitcoin could break past the R1 resistance if momentum continues post-retest, potentially clearing the path toward the $100,000 milestone.
Key resistance targets remain at the R2 and R3 pivot levels, near $102,200 and $108,600, respectively.
Veteran Market Analyst Targets $150K
Peter Brandt, a veteran market trader, has tweeted that Bitcoin could reach an all-time high of $125,000 or $150,000.
However, for the bullish trend to continue, the BTC price must overcome the recently broken parabolic support slope of $96,397, as per the chart shared. At present, Bitcoin trades at $96,600, reflecting that the largest crypto has resurfaced above the parabolic slope.
Brandt suggests a timeframe for a new all-time high in August-September 2025. Meanwhile, the analyst highlights the possibility of a 50% plus correction in BTC prices post-market cycle top.
Metaplanet and Strategy Race to Grab More Bitcoin
Amid the market optimism, institutional interest in Bitcoin continues to surge, resembling a modern-day land grab.
Tokyo-based investment firm MetaPlanet recently announced the issuance of ¥3.6 billion in 0% ordinary bonds, intended to fund further Bitcoin purchases. These bonds are redeemable at face value upon maturity on October 31, 2025.
*Metaplanet Issues 3.6 Billion JPY in 0% Ordinary Bonds to Purchase Additional $BTC* pic.twitter.com/e3UIEP7csr
— Metaplanet Inc. (@Metaplanet_JP) May 2, 2025
Meanwhile, U.S.-based Strategy, formerly known as MicroStrategy, has released its Q1 2025 earnings, alongside a new stock offering. As of April 28, the company holds 553,555 BTC.
With an average acquisition price of $68,459, Strategy’s total Bitcoin investment amounts to approximately $37.9 billion. The current market value of its holdings exceeds $52 billion.
Furthermore, Strategy has raised its 2025 “BTC Yield” target from 15% to 25%, increasing its projected “BTC $ Gain” from $10 billion to $15 billion.
Despite reporting a Q1 2025 loss of $4.21 billion, the company announced a $21 billion stock offering to purchase additional Bitcoin.
Bitcoin ETFs Mark Second Consecutive Month of Positive Net Inflows
Meanwhile, U.S.-listed spot Bitcoin ETFs saw $2.97 billion in net inflows during April 2025, following a $767.91 million outflow in March and a $3.56 billion inflow in February.
Since inception, spot BTC ETFs have recorded only four months of net outflows, reflecting overall bullish investor sentiment.
The total net assets held by spot ETFs now stand at $111.99 billion, representing 5.85% of Bitcoin’s total market cap. On May 1, 2025, spot Bitcoin ETFs recorded a daily inflow of $422.45 million.
Conclusion
Bitcoin’s breakout above $97K signals strong bullish momentum. The rally is gaining traction with growing institutional investment and rising ETF inflows.
With price targets as high as $150K by late 2025, the long-term outlook remains optimistic, despite the possibility of short-term corrections.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
