PANews, May 5 - Bitfinex released the Bitfinex Alpha report, which pointed out that Bitcoin closed with a strong monthly increase of 14.08% in April, surpassing its historical average for April and reversing its trend after a significant pullback at the beginning of the month. In this round of rebound, Bitcoin rose over 32% from a low of $74,501 in April to nearly $98,000, highlighting the asset's resilience amid macroeconomic turmoil and shifts in 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 strong market confidence in further Bitcoin price increases. Although the short-term price trend of Bitcoin depends on whether this rebound can be converted into sustainable support, structural signals still lean bullish - laying the groundwork for the current cycle to potentially continue after macroeconomic stability.
