Bitcoin continues to hover around the $95,000 mark on April 30 as volatility is still 'waiting for an opportunity'.
BTC price chart 4 hours | Source: TradingView
Bitcoin enjoys peace before the storm
Data from TradingView shows that the trading market is quite calm with only a few hours left until the month closes and the announcement of important macroeconomic data from the US.
This data includes Q1 GDP and the Personal Consumption Expenditures (PCE) index for March – considered the Federal Reserve's (Fed) 'preferred' inflation measure.
Yesterday, financial analysis source Kobeissi Letter mentioned the market's general expectation that the US Q1 GDP is likely to be negative.
All signals indicate that the US GDP in the first quarter will decline – the first time since Q2 2022,” Kobeissi’s account wrote on platform X, along with data from prediction service Kalshi.
US GDP growth in Q1 2025? | Source: Kalshi
Although the risky asset market may experience sudden volatility, Bitcoin traders increasingly believe that BTC's upward momentum will return soon.
In the next 24 hours, it will be a decisive time for both BTC and the S&P 500 index. The current downward momentum will lead to a correction, or we will surpass this phase and create a strong breakout to new highs. I still lean towards the possibility of an upward trend,” noted famous trader Cold Blooded Shiller.
BTC and S&P 500 4-hour chart | Source: Cold Blooded Shiller
Trader, analyst, and entrepreneur Michaël van de Poppe also agrees:
Bitcoin is consolidating well before the next uptrend begins.
BTC price chart 1 day | Source: Michaël van de Poppe
Meanwhile, trader Jelle and a few others noted the possibility that BTC will attract liquidity on the upside, as ask orders begin to thicken just above the current price — mainly focusing around the $96,000 mark.
“It's just moving sideways for a while to prepare for the next upswing,” he further shared in another post.
BTC/USDT liquidation heat map of Binance | Source: Jelle
Bitcoin price heading towards the best April in many years
Therefore, April looks promising for BTC amidst poor Q1 performance.
Data from monitoring source CoinGlass shows that BTC has increased by 15% since the beginning of the month – the best increase in April since 2020.
BTC monthly profit | Source: CoinGlass
“Bitcoin seems to be closing the month in the monthly range from $93,300 to $96,500,” trader and famous analyst Rekt Capital commented in a post on X about this topic.
Closing the month like this will reinforce Bitcoin's position at high levels, even if a wick candle drops below $93,300 could still happen in May (similar to the wick candle in December 2024 or January 2025).
BTC price chart 1 month | Source: Rekt Capital
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