On May 1, the price of digital gold surpassed $96,000 for the first time since February, while the cryptocurrency market capitalization reached $3 trillion, a level last seen in March.
The price is testing the $97,000 level.
At the time of writing, Bitcoin is trading at $96,344 (+2.8% for the day), according to CoinGecko. The monthly increase is 15.2%.
The rise is accompanied by a surge in short-term investor (STH) activity, which previously preceded rallies, noted CryptoQuant author DanCoinInvestor.
Bitcoin Forming an Accumulation Structure Similar to Past Rallies
“Previously, there was a sharp increase in the activity of short-term holders. This was followed by strong price rallies. Now, a similar increase in STH activity is being observed.” – By @DanCoinInvestor pic.twitter.com/opF1OsoNUQ
— CryptoQuant.com (@cryptoquant_com) May 1, 2025
“A sharp rise in STH activity often coincided with strong upward trends. Now we see similar dynamics,” the expert explained.
The open interest in Binance futures has increased by $2.2 billion over 20 days, stated CryptoQuant author burak_kesmeci.
Binance Open Interest Surges by $2.2 Billion in the Last 20 Days
“This strong futures backing on Binance could signal a continuation of the recent bullish trend in Bitcoin.” – By @burak_kesmeci
Full post ⤵️https://t.co/paTq6cZu6M pic.twitter.com/jvCoA1y7BF
— CryptoQuant.com (@cryptoquant_com) April 30, 2025
“Such support in the futures market indicates a continuation of the bullish trend,” the analyst believes.
Back on April 23, the price of the first cryptocurrency surpassed the $94,000 mark following conciliatory statements by U.S. President Donald Trump regarding tariffs and the head of the Fed.