Bitcoin, which has experienced significant get dumped due to many factors such as the trade war between Donald Trump and China and economic uncertainty, dropped to levels around 74 thousand dollars at the beginning of April.
However, BTC, which experienced a significant recovery afterwards, saw a 25% increase in the last month.
As this upward momentum has weakened in recent days, 10X Research founder Markus Thielen evaluated the recent situation in Bitcoin.
Thielen stated that Bitcoin has risen by 25% in the last month supported by aggressive ETF entries and institutional spot purchases, but signals such as the decrease in the Coinbase premium and weak funding rates indicate that this momentum is starting to wane.
Thielen “The Bitcoin rally is showing signs of fatigue as the market awaits a new catalyst.” said.
"The option market skew (reflects the implied volatility difference between call and put options) indicating a greater potential for upside, while increasing macroeconomic uncertainties and macro pressures are rising. This also affects investor sentiment.
Among these are the Federal Reserve’s neutral policy stance ahead of the May 7 meeting, increasing market volatility, and rising concerns about tariffs.
According to the analyst, BTC is in a consolidation phase near the $95,000 level as investors await a new market catalyst.
The analyst stated that it is not the time to take blind risks in Bitcoin and emphasized that it is the time to act tactically against well-defined risks.
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