⚡️ Friends, Bitcoin at $65k is already holding on by a thread. The price has been bouncing between 65k and 66k, unable to break higher or lower.

Glassnode data shows over 65k Bitcoins are in loss, very similar to the pre-2022 crash. There are tens of billions of dollars in long positions below 65k, and once broken, it could trigger a chain reaction of liquidations.
The market is now very simple: either hold steady and grind slowly or break down and move lower. The narrative in the crypto world no longer controls the outcome. Oil prices breaking above 100, inflation expectations heating up, and the Federal Reserve being cornered. After the non-farm payrolls report, the market has wiped out expectations of two rate cuts this year—there are none left. Liquidity won't loosen; without rate cuts, there won't be sustained capital inflows.
The total market cap of stablecoins has surged to $315 billion. Money hasn't left, but it’s all parked in stablecoins on the sidelines. Everyone is still here, just afraid to move.
Don’t guess the direction in April, guess the rhythm. Historically, Bitcoin has averaged over 30% gains in April, but this year, the entry stance is too weak. Liquidity is thin at the start of the month, volatility amplifies; CPI and non-farm payrolls disrupt in turn; what might truly influence the direction is the FOMC meeting on April 28–29 at the end of the month. The first half of the month is likely to be grind, shakeout, and patience.
It’s not all bad news. Miners can endure; their revenue halved after the halving, but Bitcoin inflows to exchanges have fallen to the lowest since June 2023. Fidelity found that funds are starting to flow back into Bitcoin from gold ETFs. The probability of the “Clear Law” passing in the Senate is around 70%. Once the rules are implemented, waiting funds might finally step in.
Current Bitcoin is less about bull or bear and more like a transitional phase driven by macro factors. For ordinary players, the outlook is unclear, and volatility is high. No one knows if April will reveal a clear direction.
Better to focus on three concrete signals: what the Fed says, how ETF money flows, and how stablecoin supply changes. Until then, patience is more important than being smart.