PANews reported on May 5th that Bitfinex released the Bitfinex Alpha report, which pointed out: Bitcoin closed with a strong monthly increase of 14.08% in April, exceeding its historical monthly average, and reversed its trend after a significant pullback at the beginning of the month. In this rebound, Bitcoin rose by over 32% from its April low of $74,501 to nearly $98,000, highlighting the asset's resilience amid macroeconomic turbulence and shifting risk sentiment.
On-chain data supports this view: miner reserves remain stable, and the Puell Multiple indicator shows little motivation for large-scale miner selling, indicating market confidence in further Bitcoin appreciation. Although Bitcoin's short-term price movement depends on converting this recovery into sustainable support, structural signals still tend to be bullish—laying the groundwork for the potential continuation of the current cycle once the macro environment stabilizes.
