has made an impressive surge, rising 17.5% over the past month to breach $81,000, its highest level in three months. However, it is still trading down (8.8%) year-to-date. The U.S. Spot Bitcoin ETFs saw their strongest inflows in a year in April 2026, totaling $1.97 billion. Institutional demand is creating a structural bid.
, formerly known as MicroStrategy, purchased 103,000 Bitcoin from February to April 2026, representing 3.9% of the total Bitcoin supply. Add to that a short squeeze, and the rise is a culmination of a perfect storm of institutional and macroeconomic tailwinds.
US Stock Markets Hitting All-time Highs are Helping the Cryptos
This move aligns with the rise in the , which has risen 11.4% in the past month and 7.6% YTD. The is even more impressive, surging 18% in the last month and rising 13.2% YTD. The events from the war in Iran, the short squeeze and the strong Q1 2026 earnings performance are driving the indexes to all-time highs.
Bitcoin Upside Targets Range from 92,000 up to 100,000
Bitcoin triggered two market structure lows (MSLs) on both the weekly and the monthly candlestick charts. MSLs are a price action reversal pattern comprised of four or more lower candle body lows followed by a higher body low candle (trigger candle). The buy trigger point is the high of the trigger candle. The stochastic is a dual-oscillator momentum indicator measured on a scale of 0 to 100 called bands. When the oscillators fall under the 20-band, it’s considered oversold. When the oscillators rise through the 80-band, it’s considered overbought
Source: Coinbase
Bitcoin triggered the weekly MSL buy trigger at 76,022, driving it up through the monthly MSL trigger at 79,523. The stochastic has risen back through the 20-band and is currently rising through the 57-band, with room towards the 80-band. The potential upside targets are 92,215, which represents the 15-month simple moving average (SMA); 95,158, which is the 50-week SMA; and 100,232, which is the weekly upper Bollinger Bands (BBs). Bitcoin support levels are at 76,517, the 5-week SMA, and 71,570, the 15-week SMA.
Ethereum Upside Targets Range from 2,780 up to 3,080
hasn’t been as buoyant as Bitcoin, bouncing 10% over the past month but trading down 22.5% YTD. The weekly candlestick chart illustrates the struggles it’s had.
Source: Coinbase
The weekly MSL buy trigger has barely hit at 2,386.23 as it struggles to remain above it. The monthly MSL buy trigger is at 2,466.50, which has not been broken through yet. Bitcoin has pushed past its monthly MSL trigger. Ethereum’s 5-week SMA support is at 2,295, while the 15-week SMA support is at 2,130. The weekly stochastic is slowly grinding up to the 40-band. Ethereum presents two potential upside targets: the 15-month SMA at 2,784 and the 50-week SMA at 3,079.
****
Written by,
Jea Yu, Analyst
Sigmanomics.com
With over 25 years of investing, analysis and trading experience in the equities and options market, Jea brings layered insights into the mechanics of how markets and trends operate. Jea is a four time published author with finance books focused on trading and risk management published by McGraw-Hill, John Wiley & Sons and Bloomberg Press. Jea has written over 2,500 articles across various digital platforms spotlighting and highlighting stocks, trends and trading strategies.