Bitcoin Traders Target $95K in Near Term; SUI Continues Multiday Rally

Crypto majors were little changed over the past 24 hours as markets settled from a rally, and then profit-taking from earlier in the week. Bitcoin (BTC) traded above $93,000 in Asian morning hours Friday, with traders pointing to increased optimism of short-term gains.

“With BTC holding firmly above $90K, sentiment is becoming increasingly optimistic,” QCP Capital said in a Telegram broadcast. “Call options at $95K strikes for end-April and end-May expiries have dominated flow, pointing to a tactical appetite for further upside.”

Call options are contracts giving the buyer the right to purchase an asset at a set price before a deadline. A flurry of call option buying activity indicates traders are betting bitcoin’s price will exceed $95,000 by late April or May — a tradeable signal for retail traders.

“Still, with macro risks temporarily subdued and trade tensions cooling, BTC is likely to consolidate in a narrow $90K–$94.5K range while awaiting a decisive push toward the elusive $100K mark,” the firm said, reiterating its tone of remaining “cautious” as market sentiment hinges on macroeconomic factors.

Among majors, XRP, BNB Chain’s BNB stayed flat and Solana’s SOL showed a 2% bump. Dogecoin (DOGE) and Cardano’s ADA zoomed more than 4%, while shiba inu (SHIB) added 5%.

The broad-based CoinDesk 20, a liquid index tracking the largest tokens by market capitalization, rose 1.2%.

Outside of majors, Sui Network’s SUI continued a multiday rally to bring weekly gains to over 62%. Catalysts include the ecosystem company xPortal, which is releasing a payment card that runs on the Mastercard network. 

https://x.com/SuiNetwork/status/1915395312111530191

Data from DefiLlama shows that the total value locked (TVL) on the Sui Network has exceeded $1.6 billion, an increase of over 9% in the past 24 hours.

Additionally, the decentralized exchange (DEX) on the Sui Network has seen its 24-hour trading volume reach $599 million, showing a 35% growth compared to the previous week.