Bitcoin consolidates as markets optimistic

The BTC/USD pair had finished the Wall Street trading week on a less volatile note, together with moderately flat US equities

Bitcoin consolidated into the weekend as markets continued to be hopeful about more gains.

According to data from Cointelegraph Markets Pro and TradingView, BTC/USD stayed around $30,500 on April 15.

The pair had closed the Wall Street trading week on a less volatile note, together with moderately flat US equities.

With the 10-month peaks of $31,035 continuing, traders and experts considered the possibilities on Bitocin price action.

We are going higher. Much higher, Credible Crypto summed up, retweeting a chart of BTC/USD and funding rates from technical analyst Murfski.

Most still sitting on the sidelines, funding still comparatively flat. This is “disbullief” represented on a chart.

Murfski had described being long BTC this year as highly cheap due to YTD gains of over 70 per cent.

Being long still does not seem like a crowded trade yet, Murfski said.

Anticipating a sweep at $29.6K as probable, before we will continue the upturn, according to Michael van de Poppe, founder and Chief Executive Officer of trading firm Eight, forecasted in part of analysis on the day.

Trader and expert Rekt Capital was also assured about upturn continuation as the eventual outcome, calling Bitcoin well placed on daily basis.

The rise above $30k meantime triggered some predictable moves in wallet dynamics.

The number of Bitcoin addresses in profit reached 16-month peaks on April 14, as per data from on-chain analytics firm Glassnode.

At more than 33mln, in-profit addresses therefore approached their 38mln tallies from November 2021, when BTC/USD reached its current all-time peak of $69k.

Trading suite Decentrader nevertheless was more cautious as it disclosed a drop in the number of large-balance wallets.

Expectedly, we have seen some changes in wallets holding Bitcoin as we neared $30k, the firm stated.

Wallets holding more than 100 Bitcoins saw a very important decline of 200, practically overnight. The rise we saw in December has now been reversed completely.

More data showed 1,000+ Bitcoin wallets remaining stable during the return to $30k.