PANews reported on May 5 that Bitfinex released the Bitfinex Alpha report, which pointed out that Bitcoin closed April with a strong monthly increase of 14.08%, surpassing its historical average in April and reversing its trend after a sharp correction at the beginning of the month. In this round of rebound, Bitcoin rose more than 32% from the low of $74,501 in April to nearly $98,000, highlighting the resilience of the asset amid macroeconomic turmoil and shifting risk sentiment.
On-chain data supports this view: miner reserves remain stable, and the Puell Multiples indicator shows that miners have little motivation to sell in large quantities, indicating that the market is confident that Bitcoin will rise further. Although Bitcoin price action in the short term depends on whether this recovery can be transformed into sustainable support, structural signals still tend to be bullish - laying the foundation for the possible continuation of the current cycle after the macro environment stabilizes.
