- BTC/USD is rangebound above $5,300.
- The coin has demonstrated strong growth in April.
- Experts are cautiously optimistic about the perspectives of the market.
BItcoin (BTC) has been moving inside a narrow range since May 1. The first digital coin is dancing around $5,300 handle amid a thick fog of uncertainty created by Tether scandal. At the time of writing, BTC/USD is changing hands at $5,320, mostly unchanged both since the beginning of the day and since this time on Wednesday.
From the longer term perspective, Bitcoin enjoyed a 22% gains in April and finished the third positive month in a row for the first time since December 2017. This notable development has made cryptocurrency experts wonder about what to expect from the digital asset in the upcoming months.
While the overall perspectives look optimistic, some experts remain cautious, claiming that the green shoots are still young and vulnerable to headwinds.
“The market is still somewhat indecisive as to the direction it should go. Even though Bitcoin has been rising in price steadily, we have not entered a bull run yet,“ Joe DiPasquale, CEO of cryptocurrency fund of hedge funds BitBull Capital noted, cited by Forbes.
This view is shared by Marouane Garcon, managing director of crypto-to-crypto derivatives platform Amulet. He says that the market has not created clear signals of a sustainable bull market as yet.
Meanwhile, Tom Lee, the head and the managing partner of Fundstrat Global Advisors, believes that the crypto winter is over. He singled out 11 positive signals that proved the point.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks

Bitcoin volatility hits multi-month lows, raising concerns of liquidation cascades
Bitcoin price has been consolidating between $94,000 and $100,000 for two weeks. Defund exchange FTX repayments on Tuesday dipped Bitcoin towards its lower boundary of the consolidating range.

Litecoin bulls target $170 mark as open interest reaches four-year high of $887 million
Litecoin price extends its gains and recovers above the $135.00 level on Wednesday, rallying over 7% so far this week. LTC’s open interest hints at a continuation of the rally as it reaches the highest level since May 12, 2021, of $887 million.

Maker Price Forecast: MKR generates highest daily revenue of $10 million
Maker price extends its gains by 6%, trading around $1,189 on Wednesday after rallying more than 20% so far this week. On-chain data support a bullish move ahead as MKR generated a new yearly high in daily revenue, and funding rate data is positive.

Ripple's XRP holds symmetrical triangle support as SEC acknowledges Bitwise XRP ETF filings
Ripple's XRP is down 3% on Tuesday despite the Securities and Exchange Commission (SEC) acknowledgment of Bitwise XRP ETF. Unchained Crypto noted that XRP ETF could underperform due to key fundamental issues.

Bitcoin: BTC consolidates before a big move
Bitcoin price has been consolidating between $94,000 and $100,000 for the last ten days. US Bitcoin spot ETF data recorded a total net outflow of $650.80 million until Thursday.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.