May 7th Bitfinex alpha | April’s upper momentum, the golden premise of Bitcoin in summer
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Bitcoin’s April is Booming! When the world’s leading cryptocurrency recorded an increase of 14.08%, far exceeding expectations and flipped over after the first month of pain. This price rise has led to Bitcoin increasing by more than 32% from a minimum of $74,5001 in April to around $98,000. This is clear evidence of the peak durability and continuous change psychology of this asset, central to the macroeconomic context of turbulence. $95,000 recovery – the lower boundary of the trading area three months ago – is now the most important technical landmark. If Bitcoin maintains this price area, it could open up a way to return to its all-time high, especially if it consolidates the base costs of short-term investors at $93,340.
On-chain data also supports this positive scenario. The miner still hugs Bitcoin, Puer’s multiple indexes indicate that there is no intention to be discharged. This shows the belief that price increases have not stopped here. Whether short-term development depends on whether BTC can turn this level of support into a sustainable platform, structural signals still favor upward trends – place a burning summer stage if macroeconomic conditions are stable.
Miner’s Bitcoin Reserve (Source: Cryptoquant)
The US economy showed a durable emergence in April, creating 177,000 new jobs and stabilizing unemployment at 4.2%. Workforce participation is rising, and major industries such as education, health and hotel services continue to be adopted. However, pay growth slows at 0.2% each year and 3.8% each year, the number of new jobs is declining, and some industries such as production and retail production are losing.
These positive numbers hide deeper structural issues when companies are likely to “hugging people” after difficulties in previous recruitment, and job reporting is considered an increasingly slower indicator. Meanwhile, consumer spending appears to be stable on the surface, but many cracks below are revealed – durable permanent purchase sales will decrease, but consumer goods and slight increase services. The temporary increase in equipment investment has drawn private investment data, but overall economic strength is still weak. Imports spiked over 40%, and primarily promoted companies that promote imports before tariffs increased, thus increasing GDP and drugging in the first quarter with a trade deficit of 0.3%.
Gross domestic product (GDP) (Source: Ministry of Economic Analysis)
Consumer beliefs have plummeted to the lowest level since 2020, with the expected index dropping to levels often associated with the recession. Concerns about income, employment security and inflation – driven by long-term trade tensions – place emphasis on psychology. The US faced a soft economic period as inflationary pressures from tariffs and stagnant household income growth rates.
In the Crypto world, Nexo officially re-exported the US market after two years of hiddenness, particularly under the Trump cryptocurrency campaign, which is a more favorable legal environment and political support. The company is currently aiming to fully adhere to a set of crypto-based financial products, reflecting industry movements towards collaboration with management agencies. Meanwhile, the Arizona House has passed two bills that will allow the state to invest up to 10% of its funds in Bitcoin and other cryptocurrencies. On the other side of the Atlantic, the UK government has drafted laws on the management of crypto platforms, strengthening cooperation with the US and building an Atlantic legal framework, emphasizing consumer protection and transparency. Finally, the SEC has concluded its investigation of PayPal’s Stablecoin Pyusd without doing so, showing potential clarity in Stablecoin regulations and strengthening PayPal’s position in the digital asset ecosystem under development.
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