"Wednesday of Destiny is Coming"...Bitcoin, at a Crossroads for an All-Time Bull Run in May

▲ Bitcoin (BTC)/ChatGPT generated image

Bitcoin (BTC) is experiencing short-term volatility due to geopolitical risks. However, an analysis suggests that it will eventually overcome this and is preparing for its strongest May bull run this year.

Market expert Sam Daodu, in an analysis published on Bitcoinist on April 21 (local time), diagnosed that Bitcoin is likely to conclude its April correction and enter a full-fledged uptrend. He assessed Bitcoin's dip from breaking $78,000 to around $76,000 due to escalating geopolitical tensions as a natural correction driven by short-term risks, interpreting it as a typical breather before a May bull run. He particularly emphasized that this Wednesday, April 22, will be a critical turning point determining the future direction.

Daodu presented two scenarios based on the expiration of the ceasefire agreement. If the ceasefire is extended or new peace talks are announced, stabilizing international oil prices at around $90, Bitcoin is highly likely to recover to $78,000. Furthermore, if the review of the U.S. cryptocurrency market structure bill (CLARITY) is scheduled before the end of this month, a scenario of reaching $80,000 by late April is entirely possible. He explained that a strong buying momentum is created in the market when geopolitical stability and the resolution of regulatory uncertainty act simultaneously.

Conversely, if tensions re-escalate, downward pressure could also increase. If the Islamabad peace talks fail and hostilities resume, pushing oil prices above $100, the market could be shocked again. In this case, he warned that Bitcoin could potentially fall to around $65,000. This analysis suggests that short-term investors might react sensitively to geopolitical news and engage in selling.

However, long-term indicators remain positive. Over the past 30 days, whale addresses have accumulated approximately 270,000 BTC, showing the largest monthly buying trend since 2013, while Bitcoin holdings on exchanges have decreased to a seven-year low. This indicates that a structure is forming where large funds are absorbing the selling volume from individual investors.

The market interprets this trend as a strong preparation phase for an uptrend, with supply reduction and institutional accumulation occurring simultaneously. The price stagnation in April is seen as a process of accumulating upward energy, and if geopolitical variables ease, May is likely to see the strongest bull run of the year. Investors should pay attention to the scheduled geopolitical changes on Wednesday to gauge the future direction of the market.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*