Bitcoin has not entirely lost its newfound upside momentum despite a pullback to the $75,000 price level. However, traders appear to be gradually switching into a bearish stance on BTC as evidenced by growing short positions around the leading cryptocurrency asset, particularly among seasoned investors.
Tether Investments proposed a three-way merger to create a Bitcoin platform combining mining, treasury management, and financial services
Bitcoin remains under pressure after the latest U.S. inflation data reinforced concerns that the Federal Reserve may keep interest rates elevated for longer. The Bureau of Economic Analysis reported that the Personal Consumption Expenditures (PCE) price indexwidely regarded as the Feds preferred inflation gaugerose 3.5% year-over-year in March and 0.7% month-over-month.
Bitcoin is currently showing a notable divergence between market sentiment and technical indicators, creating uncertainty for investors while hinting at a possible trend shift. Recent headlines emphasize declining interest, as SoSoValue data reveals significant outflows from crypto investment products.
Bitcoin is closing out April at $76k, ending the month exactly where the technical battle lines are drawn.
Bitcoin (BTC) is trading around $76,363, showing only modest gains of less than 0.5% since midnight UTC. Despite being slightly in the green, the leading cryptocurrency may struggle to break above the కీల $80,000 level.
Morgan Stanley Bitcoin Trust (MSBT) has outshined BlackRock's iShares Bitcoin Trust (IBIT) since the beginning of this week until April 30.
When Gary Gensler left the US Securities and Exchange Commission in January 2025, Bitcoin was trending higher, and many expected a more favorable regulatory backdrop to drive further upside. Instead, BTC has fallen sharply to a zone that complicates a once-popular narrative that regulation, or Gensler specifically, was the primary force holding the market back.
Bitcoin's April rebound is now facing a two-front macro test. The official Treasury curve for Apr. 29 placed the 10-year yield at 4.42%, the 30-year at 4.98%, and the 5-year at 4.05%.
Outflows Surge: U.S. spot Bitcoin ETF products saw more than $490 million in withdrawals over three days as selling pressure intensified. Macro Pressure: The Federal Reserve kept rates at 3.50% to 3.75%, offering no signal of cuts, which pushed Bitcoin down 3% to $75,621. Geopolitical Tension: Rising U.S.
No rate cuts are coming any time soon, Big Tech earnings gave AI bulls more to work with, and Meta is back in crypto payments with USDC creator payouts.
Fed's Last Pause Threatens Bitcoin's $250K Bull Case