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▲ Bitcoin (BTC), Gold/AI Generated Image
As investor sentiment in the virtual asset market recovers rapidly, Bitcoin (Bitcoin, BTC) is gradually raising its support line and entering a full-fledged uptrend.
According to the cryptocurrency media outlet FXStreet on April 21 (local time), Bitcoin continues its upward trend, forming a solid bottom even amidst recent volatile market conditions. The market is noting that whenever price corrections occur, support lines are formed at higher levels. This structure, often seen at the beginning of a long-term bull market, suggests that the market's fundamental strength has improved compared to before.
Positive signals are also detected in terms of market liquidity. The supply of stablecoins USDT and USDC continues to increase, indicating an expanding flow of waiting funds into the virtual asset market. An increase in stablecoins signifies potential liquidity that can convert into buying pressure during price declines, supporting the overall downside of the market.
Institutional funds are also bolstering the market. As capital continues to flow in through Bitcoin spot ETFs, institutional investors are actively rebalancing their portfolios. This acts as a factor that simultaneously enhances Bitcoin's value stability and trustworthiness.
Technical indicators also clearly show bullish signals. The Relative Strength Index (RSI) has recovered from the oversold zone to above neutral levels, strengthening the upward momentum. The Market Value to Realized Value (MVRV) indicator also suggests that Bitcoin remains undervalued, supporting the possibility of further price increases. Additionally, a golden cross has formed in the Moving Average Convergence Divergence (MACD), confirming a trend reversal signal.
The investor sentiment index is also moving out of the fear zone, through neutral, and into the greed stage. While individual investor participation in the market is increasing again, whale investors continue to accumulate steadily. In particular, the increasing amount of Bitcoin moving out of exchanges, leading to a decrease in circulating supply, acts as upward price pressure.
The market believes that Bitcoin is highly likely to open a new price range if improvements in the regulatory environment and easing of macroeconomic uncertainties coincide. The continuously rising support line structure is interpreted as a sign that the market has entered a mature stage, beyond a simple rebound.
Bitcoin has now entered a phase of liquidity accumulation to break through the next resistance level, based on a strong support zone. With its status strengthening in global capital markets, the current uptrend is likely to continue in the medium to long term.
*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.*
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