Bitcoin (BTC) Consolidates With Bullish Momentum, Eyeing Best April Since 2020 as Traders Brace for Macroeconomic Catalysts

Bitcoin (BTC) is holding steady just below $94,000, with traders closely watching for a potential breakout toward $96,000

Bitcoin (BTC) is holding firm just below the $94,000 mark, with traders eyeing a potential breakout towards $96,000. However, mixed market signals suggest both momentum and caution.

As the monthly close approaches, along with key U.S. economic data—including Q1 GDP and the Federal Reserve’s favored inflation gauge (PCE index)—Bitcoin appears to be in a holding pattern. Yet, despite broader financial market jitters, many crypto analysts remain optimistic.

“Bitcoin is nicely consolidating before the next leg upwards should initiate,” noted crypto analyst Michaël van de Poppe.

Echoing that sentiment, trader Cold Blooded Shiller said a decision point for BTC may come within the next 24 hours.

Popular trader Jelle also highlighted a build-up of sell orders around the $96,000 mark, suggesting Bitcoin may be gearing up to grab liquidity before a potential surge.

“Simply moving sideways for a while to prepare for the next leg higher,” he said.

April: A Breakout Month for Bitcoin

April has been Bitcoin’s strongest month in years. According to CoinGlass data, BTC is up roughly 15% month-to-date—its best April performance since 2020.

BTC/USD is on the verge of closing the month in the $93,300 to $96,500 range, a technically significant zone according to analyst Rekt Capital.

However, not all indicators are bullish.

Short-Term Fatigue Creeping In

Following a 27% rebound in April, Bitcoin’s rally is showing signs of cooling.

Data from Glassnode reveals that spot volume delta—a key indicator of buy vs. sell pressure—has turned negative. Analysts interpret this shift as a warning of seller dominance, profit-taking, and possible exhaustion among buyers.

Bitcoin’s long-short ratio has also skewed bearish on perpetual contracts, indicating rising short interest in recent sessions.

While Ethereum, Solana, and XRP show mounting long positions, traders are hedging risk in Bitcoin—a signal of caution amid the price surge.

Despite the volatility, many experts remain bullish on Bitcoin’s long-term trajectory.

Institutional demand is resurging. Spot Bitcoin ETFs are seeing fresh inflows, contrasting with a quiet first quarter.

Standard Chartered’s head of digital assets, Geoff Kendrick, said capital is rotating from gold—which hit a new high at $3,300/oz—into Bitcoin.

“Bitcoin gains are catching up to gold, and I think Bitcoin is a better hedge than gold against strategic asset reallocation out of the US,” Kendrick stated.

Arthur Hayes of Maelstrom believes Bitcoin’s early April dip to $74,500 marked its low point for the year. He expects BTC could soar to $200,000 in 2025.

Bernstein analysts are similarly optimistic, predicting a possible rise to $120,000 before the end of Q2.

With geopolitical tensions easing and a 90-day pause in trade disputes, the market appears to be regaining confidence.

While short-term signals flash mixed messages, Bitcoin’s upward trend remains intact.

The key focus is on whether BTC can sustain its gains above the crucial $96,000 level, or if signs of fatigue will trigger a near-term pullback.

Either way, April has set the tone—Bitcoin is back in the spotlight.