Key notes
- The FNB Bitcoin Spot saw a massive influx of $ 675 million on May 2, with zero outings in all funds.
- Arthur Hayes says that the United States will not buy more bitcoin, citing debt and political optics.
- The techniques show upward impulse, but RSI approaching Overbasht warns against a possible withdrawal.
Bitcoin continues to show a powerful institutional impulse while the ETF Spot recorded a huge $ 675 million in net entries on May 2, 2025. This push, coupled with zero net outputs on the twelve ETF Bitcoin, marks one of the strongest performance of a day since their launch.
ETHEREUM ESFS also joined the rally with modest net entries totaling $ 20.1 million in the nine funds, confirms the data from Sosovalue. Michael Saylor, president of Microstrategy (MSTR) and one of the most vocal institutional defenders in Bitcoin, considers that is just the beginning. Speaking during the Bitcoin Standard Corporation Investors Day, Saylor has made a daring complaint: “Ibit will be the largest andf in the world in ten years.”
The analyst weighs
Although it may seem ambitious, Bloomberg’s main analyst Eric Balchunas has not rejected the possibility.
“It is possible, especially if Ibit begins to take more money than Voo,” noted Balchunas, adding:
“But that would require well -northern entrances to $ 1 billion a day – more likely in a range of $ 3 to 4 billion a day. Extraordinary things should happen, but it is possible.”
We will not buy BTC: Hayes
Despite the growing institutional appetite for Bitcoin, the American government remains reluctant to adopt the asset beyond the assets it has acquired via the application of the law.
The co-founder of Bitmex, Arthur Hayes, in a recent interview, rejected the idea of an actively extended American Bitcoin reserve.
“I am not really in the entire strategic reserve situation,” said Hayes, adding that the United States “is a deficit country” and that the only way in which a BTC strategic reserve can be implemented in the country is when the government does not sell bitcoin “they have taken from people.”
He added that with 200,000 BTC already seized – now estimated at more than $ 18 billion – he is politically incredible for all elected to announce plans to buy more bitcoin with printed dollars.
“Especially when the popular story is a bunch of Bitcoin Bros that go to the club,” he said. “Is this really what people want people to think about your policy?”
Chart analysis: bull and lowering scenarios
As of May 3, Bitcoin was negotiated at $ 96,251.58, down 0.34% in the last 24 hours, according to data provided by CoinmarketCap. Meanwhile, the RSI (relative Strength Index) is 67.87, approaching exaggerated territory but still leaving the upward space.
On the other hand, the MacD (divergence of mobile average convergence) is optimistic, with the MacD line (3153.82) well above the signal line (2,688.95), but the reduction in the distance between the lines suggests an increase in the sale pressure.
BTC Daily Chart | Source: tradingView
The price exceeded the level of Fibonacci retracement of 0.786 ($ 79,238.75) and the swing approach of $ 96,028.45. A daily closure above this resistance could trigger an escape to new heights of all time.
The level of fibonacci 0.236 to 90,987.26 $ could act as a key support if the price is found. Ventilation below could expose deeper levels to $ 87,868.57 and $ 85,347.98.
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Cryptographic journalist with more than 5 years of experience in the industry, Parth has worked with the main media in the world of crypto and finance, the collection of experience and expertise in space after having survived bear markets and bulls over the years. STHTH is also an author of 4 self-published books.
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