Source: Cointelegraph.com NewsKey points:<\/p>\n
Bitcoin consolidates after upside momentum stalls, but traders are confident that upside breakout will result.
\nMajor risk-asset volatility is expected as US macro data precedes the monthly candle close.
\nApril BTC price performance is on track to be the best since 2020.<\/p>\n
Bitcoin (BTC) spent another day around $95,000 on April 30 as volatility waited in the wings. Source: Cointelegraph.com NewsKey points: Bitcoin consolidates after upside momentum stalls, but traders are confident that upside breakout will result. Major risk-asset volatility is expected as US macro data precedes the… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128283"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128283"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128283\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128283"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nBTC\/USD 1-hour chart. Source: Cointelegraph\/TradingViewBitcoin enjoys the calm before the storm
\nData from Cointelegraph Markets Pro and TradingView showed calm trading conditions with hours to go until the monthly close and key US macro data.
\nThe latter comes in the form of Q1 GDP and the March print of the Personal Consumption Expenditures (PCE) index, known as the Federal Reserve\u2019s \u201cpreferred\u201d inflation gauge.
\nThe day prior, trading resource the Kobeissi Letter meanwhile pointed to consensus implying a negative GDP result.
\n\u201cAll signs point to the first quarter of US GDP contraction since Q2 2022,\u201d it wrote in an X post alongside data from prediction service Kalshi.
\nSource: KalshiDespite the scope for flash volatility across risk assets, Bitcoin traders were increasingly convinced that BTC price upside would soon return.
\n\u201cIt’s going to be decision time for $BTC and $SPX I’d imagine within the next 24 hours,\u201d popular trader Cold Blooded Shiller argued.\u00a0
\n\u201cEither this loss of momentum results in the correction or we get clear of this and make a significant break into new highs. I still favour expansion upwards as the outcome.\u201d
\nBTC\/USD vs. S&P 500 4-hour chart. Source: Cold Blooded Shiller\/XCrypto trader, analyst and entrepreneur Micha\u00ebl van de Poppe agreed.
\n\u201cBitcoin nicely consolidating before the next leg upwards should initiate,\u201d he summarized to X followers.
\nBTC\/USDT 1-day chart. Source: Micha\u00ebl van de Poppe\/XFellow trader Jelle and others meanwhile eyed a potential upside liquidity grab with asks thickening immediately above spot price, mostly clustering around $96,000.
\n\u201cSimply moving sideways for a while to prepare for the next leg higher,\u201d he added in a separate X post on the day.
\nBinance BTC\/USDT order book liquidation heatmap. Source: Jelle\/XBTC price eyes best April in years
\nApril thus looked promising for BTC\/USD against the background of lackluster Q1 performance.
\nRelated: Why is Bitcoin price stuck?
\nData from monitoring resource CoinGlass showed the pair up 15% month-to-date, the best April gains since 2020.
\nBTC\/USD monthly returns (screenshot). Source: CoinGlass\u201cBitcoin is on the cusp of a Monthly Close in the $93300-$96500 Monthly Range,\u201d popular trader and analyst Rekt Capital commented in an X post on the topic.
\n\u201cA Monthly Close like this would solidify Bitcoin’s position at these highs, even if downside wicking below $93300 could still occur in May (similar to Dec 2024 or Jan 2025 wicks).\u201d
\nBTC\/USD 1-month chart. Source: Rekt Capital\/XThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"