In April, Bitcoin outperformed the S&P 500,
Although the price experienced a pullback, it rebounded quickly.
According to CoinWorld news, ARK Investment Management released the April 2025 Bitcoin report, which pointed out that the economic outlook signals from inflation, market sentiment, and tariffs are mixed. However, data shows that Bitcoin's price rose by about 14% in April, outperforming the S&P 500 index, and quickly rebounded from the market panic triggered by tariffs.
Additionally, the report mentioned that the current price pullback of Bitcoin has not exceeded 30%, and technically it remains in a bullish range. If it drops 30%, 50%, and 70% from its historical peak, the corresponding price levels would be approximately $74,311, $53,080, and $31,848, respectively. Moreover, the number of unrealized loss Bitcoin held by long-term holders (LTH) is close to 3.5 million, the highest level since 2018, indicating that the market may be in an oversold state, which ARK views as 'bullish.' The report also noted that the current Bitcoin profit supply ratio has not exceeded 68%, far below the historical peak level of over 80%, indicating that the market has not shown signs of irrational exuberance. Overall, on-chain data reflects that the market is in a healthy consolidation phase.
