Bitcoin BTC/USD has broken the $97,000 level in Thursday trading, and commentators predict an even more explosive move to the upside may be brewing.

What Happened: Bitcoin-focused financial service provider Swanoutlined in a post on X on April 30 that ETFs, long-term holders and institutions are steadily shifting BTC into cold storage, reducing liquid supply.

Prices haven't surged because sellers still exist, including short-term traders and profit-takers, and large buyers accumulate gradually, not in sharp bursts.

The platform points out that the true driver will be demand breaking the current equilibrium — when that happens, price action is expected to be sudden, violent, and irreversible.

Institutions like MicroStrategy MSTR are buying more BTC than miners can produce monthly (13,500 BTC), creating a “synthetic halving.”

This structural supply squeeze combined with incoming capital drives prices, which do not move just because supply is low, but when demand overwhelms the remaining supply.

Also Read: Bitcoin Breaks $96,000 Ahead Of ‘Pivotal Week’

What's Next: Crypto chart analyst Ali Martinez noted that Bitcoin is testing its realized warm supply level at $94,550, a key zone reflecting the average acquisition price of mid-term holders.

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Holding above this level signals growing market conviction and potential for upside momentum.

Capo Of Crypto sees Bitcoin consolidating between $92,000–$98,000, calling this a critical resistance zone.

He remains bullish while BTC holds above $92,000 but warns that strong resistance near $96,000–$98,000 could limit upside in the short term.

He also notes that altcoins may continue rallying, but he plans to start taking profits soon.

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