#SaylorBTCPurchase

Bitcoin (BTC) Analysis – April 2025

1. Market Overview

As of April 2025, Bitcoin remains the dominant cryptocurrency by market capitalization. Following the 2024 halving, the reduced supply issuance has played a significant role in supporting price appreciation. BTC is currently trading within a volatile range, having recently tested new local highs before experiencing a short-term correction.

2. Price Action & Technical Indicators

• Trend: BTC is in a long-term bullish trend, supported by institutional adoption and macro hedge narratives.

• Support/Resistance: Strong support levels are holding around $55,000–$58,000. Major resistance sits near the $72,000–$75,000 zone, which has seen multiple rejections.

• Moving Averages: The 50-day MA is above the 200-day MA, indicating a golden cross and bullish momentum. However, recent consolidation suggests potential for a pullback or sideways movement.

• RSI & MACD: RSI is cooling down from overbought levels, and the MACD is flattening, indicating a possible short-term consolidation phase.

3. On-Chain Metrics

• Exchange Balances: BTC held on exchanges is at a multi-year low, suggesting long-term holders are accumulating and reducing sell pressure.

• Hash Rate: Bitcoin’s hash rate is at all-time highs, reflecting strong miner confidence and network security.

• Realized Cap & NUPL: Network data indicates we are likely in an early-to-mid bull cycle phase, with growing unrealized profits but not at euphoric levels.