This rebound was driven by the optimism surrounding the upcoming Bitcoin halving, scheduled for April 20, which typically attracts significant interest from both traditional media and spot Bitcoin exchange-traded fund (ETF) providers. This event appears to have helped with offsetting the negative impacts of broader socio-economic challenges.

During the current tumult, the geopolitical landscape adds to the market’s volatility. As tensions escalate in the Middle East, Bitcoin’s price movement seems to correlate with global events. However, a recovery was aided by reassurances from Iranian officials, who stated there were no plans for retaliation, thus soothing markets’ nerves.

Low liquidations during extreme volatility strengthen the $60,000 support

Despite the dramatic $5,850 swing in Bitcoin’s price on April 19, liquidations in BTC futures remained relatively minimal, totaling around $45 million, as per data from Coinglass. This suggests that market participants were not heavily leveraged, a bullish signal considering that the $60,000 level has become a significant psychological support.

Get to know Godleak

Godleak crypto signal is a  service which provide profitable crypto and forex signals. Godleak tried to provide you signals of best crypto channels in the world.

It means that you don’t need to buy individual crypto signal vip channels that have expensive prices. We bought all for you and provide you the signals with bot on telegram without even a second of delay.

Godleak crypto leak service have multiple advantages in comparision with other services:

•  Providing signal of +160 best crypto vip channels in the world
• Using high tech bot to forward signals
• Without even a second of delay
• Joining in +160 separated channels on telegram
• 1 month, 3 months , 6 months and yearly plans
• Also we have trial to test our services before you pay for anything

For joining Godleak and get more information about us only need to follow godleak bot on telegram and can have access to our free vip channels. click on link bellow and press start button to see all features

Join for Free

☟☟☟☟☟

https://t.me/Godleakbot

Also you can check the list of available vip signal channels in the bot. by pressing Channels button.

Cryptocurrency analysts at Amina Bank suggested that geopolitical tensions are not the sole drivers of market sentiment. As noted in their research, “Trading volumes, ETF flows, and news coming out of US inflation data are also pivotal.” These analysts also pointed out that miners are selling off their Bitcoin in anticipation of the halving, trying to secure profits before the reward reduction.

From an economic perspective, the resilience in U.S. inflation data and strength in the labor market, supporting a 0.7% year-over-year growth in retail sales, has led to reduced odds that the U.S. Federal Reserve will reduce interest rates in the next couple of months. This skepticism is reflected in the 5% decline of the S&P 500 index since it retested its all-time high of 5,265 on March 28.

Bitcoin halving proximity caused no relevant changes in BTC futures metrics

A bird’s eye view from BTC derivatives markets is a good starting point to analyze if the Bitcoin halving has driven considerable bets. According to BTC futures data, the current open interest stands at $29.8 billion, only slightly up from $28.6 billion two days prior. This slight increase suggests that the Bitcoin halving event has not sparked a significant surge in demand for leverage.

When viewed over a larger time frame, the demand for BTC futures appears subdued compared to the previous week’s $35.5 billion. Thus, there is no indication of excessive demand solely caused by the Bitcoin halving expectation.

To understand professional traders’ positions after the substantial price swing, one should analyze BTC futures premium. Such metric typically trades at a 5%–10% annualized premium compared with spot markets, indicating that sellers demand additional money to postpone settlement.

The premium for 3-month BTC futures is currently at 11%, which is moderately bullish but represents a decrease from last week’s 16%. Notably, even during the swift retest of the $60,000 level on April 19, the premium managed to maintain a robust 9%. The data indicates that while the market is cautiously optimistic, there is no rush of short-term speculative betting in anticipation of the halving event.