Bitcoin surged past the $76,000 mark during Thursday’s Wall Street opening but most market participants remain cautious about its short-term prospects. Despite the recent volatility, traders believe expectations for Bitcoin’s near-term performance are still subdued. Strong oil prices and the US Federal Reserve’s hawkish stance have prevented a significant rebound in investor risk appetite.
Coinbase premium turns negative as caution rises
Even with Bitcoin’s upswing, the “Coinbase Premium Index” has slipped into negative territory. Experts point out that the gap turning negative between BTC/USD on Coinbase and BTC/USDT on Binance signals underwhelming demand for Bitcoin in US markets. Historically, this divergence increases selling pressure and can trigger short-term headwinds for the price.
A similar pattern emerged in January: after a brief rally, deepening negativity in the Coinbase Premium led to new local lows for Bitcoin. Market watchers also note the emergence of a bearish flag formation on price charts—a technical pattern that often prompts investors to exercise extra caution.
Market commentators highlight that selling pressure on Coinbase has intensified within minutes, viewing this trend as a short-term risk indicator for Bitcoin.
Veteran analysts recall the market dynamics in January, remarking, “We have seen this scenario before and many can guess how it ends.”
April could mark the strongest monthly gain in a year
Seasoned traders remain cautious about declaring a definitive long-term bottom for Bitcoin, noting signals for a solid price floor have yet to materialize. Some verified chart formations even suggest Bitcoin could retreat to as low as $65,000 in the short term.
Yet, despite all this caution, analysts project that Bitcoin may post its strongest monthly return in over a year at April’s close. Data shows Bitcoin is expected to finish the month up approximately 11.6 percent. Recent figures from CoinGlass indicate April could represent one of Bitcoin’s best performances since 2025.
Several market analysts observe, “It’s too early to call a bottom in the short term. However, Bitcoin could end this month with a substantial gain.”
Looking at the broader picture, both short-term downside risks and notable annual monthly gains are in play for Bitcoin at the same time. In the coming days, US stock market trends and the movement of the Coinbase Premium Index will be central data points for cryptocurrency investors.
