Glassnode says Bitcoin’s rebound is running into heavy resistance near $98,000, with overhead supply above $100,000 still weighing on price. Spot flows have improved, but derivatives activity remains muted.
Marathon-linked wallets sent 298 BTC to Cumberland, reviving concerns about miner-driven sell pressure. Spot markets appeared to absorb the flow, while derivatives data turned more cautious with sharply negative funding rates.
Strategy added 1,550 BTC worth $101 million, lifting its holdings to 845,256 coins, yet bitcoin stayed near $62,600 as derivatives data pointed to weak risk appetite across the crypto market.
Jerome Powell is set to speak at Harvard at 10:30 a.m. ET, with markets watching for clues on rates, inflation, and growth. Traders currently see a 95.3% chance of no change at the April 29 meeting as Bitcoin faces macro and technical pressure.
Bitcoin rebounds to $71,200. Bloomberg analyst Mike McGlone warns a failure to hold $75,000 could trigger a crash to $10,000 by 2026. Tom Lee maintains a year-end target of $200,000–$250,000. Derivatives data reveals bull-bear divergence: futures buying pressure but record put premium.
Strategy purchased 1,550 BTC for $101M after its late-May sale, but bitcoin stayed near $62,600. Investors are cautious ahead of the FOMC meeting, with derivatives showing persistent bearish positioning while ZEC hints at a potential short squeeze.
Ali Charts outlined four Bitcoin dollar-cost averaging zones using URPD, CVDD, MVRV and a long-term trend line, with key areas near $63,111, $56,000-$60,000, $47,000-$49,000 and $36,000-$43,000.
XRP is consolidating after a liquidity flush, with selling pressure easing and traders closely watching whether price can break and hold above $1.50.
