Bitcoin rallied again at Wall Street’s open on Thursday, breaking above the $76,000 level. However, most market participants still have a cautious attitude regarding short-term pricing. Despite the recent activity, according to traders, expectations for Bitcoin’s performance are weak, especially in the short term. Especially after strong oil prices and the hawkish attitude of the US Federal Reserve, there was no significant increase in investors’ risk appetite.
Coinbase Premium in Negative: Investors Worried
Despite the rise in Bitcoin price, the “Coinbase Premium Index” remained in the negative zone. According to experts, the price difference between BTC/USD on the Coinbase exchange and BTC/USDT on Binance turning negative shows that the demand for Bitcoin in the US markets is not strong enough. This situation can often have negative effects in the short term by putting pressure on the price.
A similar situation occurred in January, where Bitcoin prices, after a short-term rise, fell to new lows as the negativity in Coinbase Premium deepened. It is stated that in the cryptocurrency market, a “bear flag” formation has formed on the price chart; This outlook indicates that investors should be careful.
Market commentators stated that the selling pressure in Coinbase became stronger within minutes, and they think that this development is a risk signal for Bitcoin in the short term.
Pointing out that a similar dynamic took place in January, experts said, “We have seen a similar movie before and most people can guess how it will end.”
Bitcoin’s Strongest Annual Monthly Return
Experienced traders, who are cautious about long-term bottoms in the market, are of the opinion that signs of a clear bottom formation have not yet been fully seen. In fact, according to some confirmed charts, there is a possibility of a pullback in Bitcoin to $65,000 in the short term.
However, despite all these cautious comments, it is predicted that Bitcoin may reach its strongest monthly return in the last year as of the close of April. According to the data, there will be an increase of approximately 11.6 percent at the monthly close. Current statistics shared by CoinGlass reveal that April could be one of the best performances for Bitcoin since 2025.
Some market analysts share the assessment that “It is too early to say that a bottom has been formed in the short term. However, Bitcoin may close this month with a strong gain.”
When we look at the whole picture, we see that both short-term downside risks and positive monthly returns, which are noticeable on a yearly basis, are on the table at the same time. In the coming days, trends in US stock markets and the course of the Coinbase Premium Index, especially in the cryptocurrency market, stand out as the main indicators to be followed closely by investors.
