In this video: Bitcoin has rallied back into a key technical zone, the Bear Market Resistance Band, where momentum often faces its biggest test. In this video, we break down why this area matters, how previous cycles reacted here, and what it could mean for the next move. Video by Benjamin Cowen.
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Are the bulls strong enough to reclaim trend, or is this simply another countertrend rally within a broader bear market? We’ll look at market structure, moving averages, historical comparisons, and the macro backdrop to assess the probabilities.
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Insights Today
-Geopolitical Impact: Caution surrounding a U.S.-Iran nuclear treaty review and a standoff in the Strait of Hormuz has lifted oil to a three-week high, pushing investors away from risk assets.
-Institutional Inflows: April has seen strong net inflows of roughly $2.44 billion into U.S. spot ETFs, driven heavily by BlackRock's IBIT.
-Corporate Accumulation: MicroStrategy added 3,273 BTC (worth $255M) this month, bringing its total holdings to 818,334 BTC.
-Supply Dynamics: Exchange reserves have hit their lowest levels since 2017, indicating a trend of long-term holding.
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