Bitfinex released the Bitfinex Alpha report, which pointed out that Bitcoin (BTC) closed April with a strong monthly increase of 14.08%, surpassing its historical average in April and reversing its trend after a sharp pullback at the beginning of the month.

Bitcoin has risen more than 32% from an April low of $74,501 to nearly $98,000 during the current rally, highlighting the asset’s resilience amid macroeconomic turmoil and shifting risk sentiment.

On-chain data supports this view: miner reserves remain stable, and the Puell Multiple indicator shows that miners have little motivation to sell on a large scale, indicating that the market is confident that Bitcoin will rise further.

While Bitcoin price action in the near term depends on whether this recovery can be turned into sustainable support, structural signals still lean bullish – setting the stage for a possible continuation of the current cycle once the macro environment stabilizes.