BTC sell order liquidity is concentrated in 96,000 dollars, and the monthly closing is expected to record the best April increase in nearly four years

On April 30, according to Cointelegraph, TradingView data showed that Bitcoin maintained a narrow range in the hours before the monthly close and the release of important US macro data. The market focused on Quarter 1 GDP data and the March personal consumption expenditure price index (PCE) - the latter is regarded as the Federal Reserve's favorite inflation indicator.
Trading information platform Kobeissi Letter pointed out that the market consensus forecasts negative GDP growth: all indications are that this will be the first quarterly GDP contraction in the United States since the second quarter of 2022 ". Despite the potential for wild volatility in risk assets, bitcoin traders remain convinced that the price will resume its rise. ColdBloodedShiller, a well-known trader, said: The next 24 hours will be a decision-making moment for BTC and the S & P 500. Bitcoin has the opportunity to break through resistance and make a new high. I am inclined to be bullish.
Cryptocurrency analyst Michaël van de Poppe takes the same view: Bitcoin is consolidating perfectly to build up for the next wave of gains. Another trader, Jelle, notes that the sell order liquidity above the current price is mostly concentrated around $96,000 and could be targeted by bulls. Compared to the weak Quarter 1 performance, Bitcoin has gained 15% so far in April and is on track for its best April gain since 2020. Analyst Rekt Capital notes: Bitcoin is about to complete the monthly close in the $93,300-96,500 range, which will consolidate the current support level. Even if there may be a dip in May (similar to the long lower shadow in December 2024 or January 2025).