According to ChainCatcher, Bitfinex released a report stating that Bitcoin rose strongly by 14.08% in April, not only surpassing its historical average April performance but also successfully reversing the deep correction trend at the beginning of the month. From the April low of $74,501, it rebounded to near $98,000, with a rise of over 32%, demonstrating its resilience amid macroeconomic turbulence and changing risk sentiment.
The $95,000 mark for Bitcoin is the lower bound of the three-month consolidation range and has become a key technical support level. If it can maintain this level, especially with the current price continuously above the short-term holder's cost basis ($93,340), it may lay the foundation for returning to its all-time high.
On-chain data also supports this trend: miner reserves remain stable, and the Puell Multiple indicator suggests insufficient momentum for large-scale miner selling, reflecting their continued confidence in future market growth. Although the short-term trend depends on whether Bitcoin can convert this technical rebound into solid support, the overall structural signals still lean bullish, and it is expected to continue the current bull market cycle once the macroeconomic environment stabilizes.
It is reported that the Puell Multiple indicator measures whether miners' daily earnings are higher or lower compared to the average level of the past year.
