Key Insights:
- Bitcoin’s 30-day Apparent Demand indicator has flipped green, fueling hopes of a breakout toward $109K.
- MicroStrategy added another $180M in BTC, while U.S. political support for crypto is growing.
- Bitcoin price has broken above key resistance at $98,600, with minimal resistance ahead.
BTC price increased 3.8% in the last 24 hours to trade at $100,527 on over 157% surge in daily trading volume to $74.2 billion. With BTC flirting with the psychological $105,000 mark, whispers of the asset potentially hitting its all-time high of $109,135 again have re-emerged. The question on everyone’s mind now is, can it happen this week?
Apparent Demand Goes Green— Bitcoin Price to $109K?
Crypto analyst CryptoJack shared that Bitcoin’s 30-day Apparent Demand has turned positive. This indicator tracks BTC net buying or selling activity over a rolling month. Green bars signal higher buying than selling, while red implies the opposite.
Looking at the chart, we see some serious action. From early 2022 to mid-2023, demand was mostly in the red, with a few green spikes that didn’t last long. This lines up with BTC’s price struggling between $20,000 and $40,000 during that bear market grind.
But check this out: starting in late 2023, demand started flipping green more often, especially during the massive rally in early 2024 when BTC soared past $70,000. The green bars got bigger, showing whales and retail alike were stacking sats.
Fast forward to early 2025, and after a brief dip into the red, the Apparent Demand is back in positive territory. This flip has CryptoJack and the community buzzing, with some calling for the “next leg up.”
Historically, when this indicator goes green, BTC price tends to follow with a pump. Right now, the price line on the chart is hovering around $90,000–$101,000, and with demand picking up, a push toward $109K doesn’t seem like a meme anymore.
Bitcoin Price This Week: Big Moves, Bigger Hopes
The crypto space has been wild this week, and Bitcoin is feeling the heat from some major developments.
Michael Saylor’s Strategy just scooped up another 1,895 BTC for a cool $180.3 million. They’re now targeting a 25% BTC yield and a $15 billion total gain.
On the policy front, pro-crypto vibes are spreading like wildfire in the U.S. Some Democratic hopefuls in New Jersey’s governor race openly support crypto, taking a page out of Trump’s playbook. This comes at a time when institutional investors and big businesses are reportedly loading up on BTC, tightening the available supply. Less supply, more demand, and it’s a recipe for a price explosion.
Meanwhile, Ethereum’s Pectra upgrade dropped on May 7, aiming to boost scalability. While this is an ETH thing, it’s stirring up the broader crypto market, with some traders rotating profits into BTC. Oh, and let’s not forget Binance Pay launching in the Kyrgyz Republic, making crypto payments easier. More adoption translates to more Bitcoin demand.
Sentiment Check: Bulls Are Running the Show
The sentiment around Bitcoin is straight-up bullish right now. Technical indicators are screaming “buy,” with 25 out of 31 signals pointing to a green week, per CoinCodex data. The Fear & Greed Index is sitting at 67 (Greed), showing the market is feeling frothy but not overbought yet and over the last 30 days, BTC has had 19 green days out of 30, with a price volatility of 6.86%. That’s a solid trend, and the bulls are clearly in control.
What’s more, Bitcoin Exchange Liq. Map from Coinglass shows
($9.06 billion) compared to shorts ($2.76 billion).
Interestingly, beyond $100,095, there is little resistance to $109,700. This means bullish sentiment dominates the market since traders think the asset will rise higher.
Price Prediction: Can BTC Hit $109K This Week?
So, will Bitcoin clinch that $109K mark this week? The Apparent Demand flipping positive is a strong signal, and historically, it’s been a leading indicator for price pumps. Combine that with the institutional FOMO, tightening supply, and pro-crypto policy vibes, and you’ve got a perfect storm for a breakout.
The 1-Day Bitcoin price chart shows the asset broke above the key $98,600 level, which it had previously faced rejection from. With a golden cross to support the upward trend and relative strength index (RSI) entering the hot zone, investors could see BTC surge quickly to $109,700, establishing a new all-time high.
CoinCodex predicts BTC could hit $111,329 by June 6, a 15.22% jump from current levels. But this week? It’s a stretch but not impossible. On-chain data shows potential selling pressure around $99,900, so BTC might need to flex some serious muscle to break through. If it does, $109,396 is absolutely in play—maybe even a new ATH above $110,000.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
