Bitcoin (BTC) Outlook: Bullish Bias Grows as Schwab Eyes Spot Crypto Trading

Stakeholders Accumulate BTC Holdings

Bitcoin (BTC) rose 0.61% on Saturday, April 19, reversing Friday’s 0.52% loss to close at $85,033. Significantly, BTC held onto the $85,000 handle for the first time in seven sessions.

The upswing came amid ongoing trade tensions and economic uncertainty. BTC’s supply-demand balance shifted in its favor in recent sessions, supporting a return to $85,000.

Bitcoin stakeholders have reportedly taken advantage of the recent dip, accumulating BTC. Market intelligence platform Santiment noted:

“Bitcoin’s key stakeholders comprised of wallets holding between 10 & 10K BTC currently hold 67.77% of the entire supply of crypto’s top market cap asset. During the April volatility, these wallets continue to accumulate, and have now added over 53.6K BTC since March 22nd.”

Stakeholders’ accumulation trends are crucial for BTC price trajectory for several reasons.

• This signals confidence in BTC’s long-term value proposition, as the are buying the dip on the expectation of higher price levels.
• Provides price stability, limiting the chances of sharp sell-offs.
• Historically, large-scale accumulation during deep corrections has typically preceded BTC bull markets.

Charles Schwab Eyes Crypto Spot Trading Offering

While the latest stakeholder data supports near-term price resilience, BTC’s supply-demand balance looks set for a material shift. ETF Store President Nate Geraci reported that Charles Schwab, with over 30 million customers, plans to launch crypto-spot trading by 2026:

“Schwab CEO expects to launch direct spot crypto trading w/in next 12mos… As I’ve said numerous times in past, spot crypto trading will be table stakes for every major brokerage”.

Schwab’s crypto plans underscore confidence in the crypto market, though regulatory clarity from the SEC and US policymakers remains essential for broader adoption.

BTC Price Outlook: Key Drivers

Several factors will shape BTC’s trajectory in the coming weeks:

• Global trade risks: A full-blown global trade war could impact US private consumption (over 60% of GDP) and push prices higher, delaying Fed rate cuts. Stagflation and a US recession would impact risk assets.
• Macroeconomic indicators: Upcoming economic indicators may reflect the early effects of US tariffs, potentially influencing BTC demand.
• The Bitcoin Act: If passed, the bill could drive demand by mandating government BTC purchases and long-term holdings.
• US BTC-spot ETF market flows: Spot ETF inflows and outflows remain a key barometer for market demand.

Key BTC Price Scenarios include:

• Bullish Scenario: Easing trade tensions, positive US data, progress on the Bitcoin Act, and strong ETF inflows may push BTC toward $90,000.
• Bearish Scenario: Escalating trade tensions, weak US data, legislative roadblocks, or ETF outflows could drag BTC toward $70,000.

Technical Analysis

Bitcoin Analysis

BTC trades above the 200-day Exponential Moving Average (EMA) but below the 50-day EMA, supporting a long-term uptrend despite short-term consolidation.

A break above the 50-day EMA and the $86,263 resistance level could pave the way to the $90,742 resistance level. A sustained move beyond $90,742 could bring the crucial $100,000 level into view.

On the downside, a drop below the 200-day EMA could test support at $80,000, with further downside opening a path to the March 11 low of $76,642.

Stay ahead of market trends by accessing real-time BTC price data and technical indicators here.

Ethereum Analysis

Meanwhile, ETH remains below the 50-day and 200-day EMAs, reflecting a bearish near-term outlook.

A break above $1,750 could support a move toward the 50-day EMA and $2,000. A push through $2,000 may enable the bulls to target the $2,308 resistance level.

ETH-spot ETF flows and US tariff policies remain key near-term price drivers.

Conversely, if ETH drops below $1,500, the bears may target the April 9 low of $1,386.

Final Thoughts

BTC’s march toward $100,000 faces hurdles, including US-China trade tensions, recession risks, monetary policy uncertainty, and legislative developments. However, ETF inflows, economic data, and regulatory clarity will remain pivotal in influencing market sentiment.

Stay ahead of market trends with real-time BTC price data and expert insights. Follow our live updates on BTC price movements here.