Bitcoin Recovery Continues Despite ‘Fear’… Experts “Expect a Rebound in April” [Decenter Market Status]

Bitcoin (BTC) is continuing its bullish trend while trading above the 200-day moving average. The 200-day moving average is a key technical indicator for gauging long-term trends, and typically surpassing it is interpreted as a bullish market signal. The market is paying attention to whether BTC can maintain this support line and close the week in a bullish range.

According to CoinMarketCap, a global virtual asset market site, as of 8 AM on the same day, BTC was trading at $85,391.94, up 1.71% from the previous day. At the same time, Ethereum (ETH), a representative altcoin, recorded $1,986.90, up 0.12%. XRP rose 1.98% and was trading at $2.414 per coin.



Major virtual asset prices are also rising on domestic exchanges. At the same time, BTC on Upbit rose 1.73% from the previous day to 126,097,000 won. ETH rose 0.24% to 2,937,000 won, and XRP was trading 1.77% higher at 3,572 won. Bithumb, which is switching its won deposit and withdrawal bank from NH Nonghyup Bank to KB Kookmin Bank, suspended service for 10 hours and 30 minutes from 12:30 AM to 11 AM on the same day.

With Bitcoin recovering its key support line from a technical indicator perspective, market experts are focusing on the week's closing point. Ryan Lee, senior analyst at Bitget Research, said, "BTC needs to close the week above $85,000 to prevent the risk of adjustment to $76,000" and "The current market is attempting to recover its bullish trend by using the 200-day simple moving average ($84,899) as a support line." He added, "Especially if the week closes above $87,000, it could be interpreted as a clearer bullish signal."

In contrast, market analyst Timothy Peterson forecast that the current bearish market could last about 90 days. He predicted that "after an additional decline in the next 30 days, there is a possibility of a 20-40% rebound around April 15." Cointelegraph analyzed that if BTC recovers its support line and continues its bullish trend, "multiple altcoins may also show a rebound."

Macroeconomic factors affecting the overall market are also drawing attention. The recently intensified trade war is acting as a pressure factor not only in traditional financial markets but also in the virtual asset market. Nicolai Sondergaard, an analyst at on-chain data analysis firm Nansen, said, "The market as a whole may be exposed to high volatility until next month's 2nd" and "Changes in tariff policies will be the key factor in short-term market trends."

Meanwhile, the Crypto Fear and Greed Index from virtual asset data analysis firm Alternative.me remains in a 'fear' state at 30 points, down 2 points from the previous day. This index means that the closer it is to 0, the more investment sentiment is suppressed, and the closer it is to 100, the more the market is overheated.

Reporter Do Ye-ri

yeri.do@sedaily.com