Bitfinex report: Bitcoin closes strong in April, miner reserves remain stable

PANews May 5th news, Bitfinex released its Bitfinex Alpha report, which pointed out that Bitcoin closed with a strong monthly gain of 14.08% in April, surpassing its historical average in April and reversed its trend after a sharp pullback at the beginning of the month. In this rebound, Bitcoin rose more than 32% from its April low of $74,501 to nearly $98,000, highlighting the asset's resilience in macroeconomic turmoil and shifts in risk sentiment.

On-chain data supports this view: miner reserves remain stable, and the Puel multiple indicator shows that miners have little motivation to sell large-scale, indicating that the market is confident of Bitcoin's further rise. Although the short-term Bitcoin price trend depends on whether this rebound can be translated into sustainable support, structural signals still tend to be bullish—which lays the foundation for the current cycle to continue after the macro environment stabilizes.