Bitcoin (BTC) price has risen to the highest level since the beginning of February 2026 on April 22, amid uncertainty whether it is a bull trap or a complete reversal.
The BTC price pump from the bottom of February, about $ 63,000, up to $ 78,200 at press time has been confirmed. Glass nodeplatform to monitor the chain, that the bear market is over. In addition, the price of Bitcoin has also risen above the average price of recent buyers by about $74,000, according to analytics from Glass node.
With more recent Bitcoin buyers than their breakeven price, Glass node they realized that the first phase of the bull market is at hand.
“Bitcoin’s price is still well below the October Highs, but many buyers will soon return to breakeven, perhaps a sign that Bitcoin has put a solid market down in the $65,000 to $70,000 range,” Glassnode. he realized.
However, the price of BTC may form a possible macro pennant pattern, which is a continuation after a consolidation of several weeks, depending on analysis from Aksel Kibar, former fund manager. Kibar said that the price of Bitcoin should rise above the upper limit of its flag and the 365-day Moving Average (MA) to confirm a major bull market.
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Since Bitcoin’s price dropped in early February, its availability on all crypto exchanges has dropped to a multi-year low of around 2.67 million BTC at the time of publication, according to metrics from CryptoQuant. Likewise, the recent consolidation of Bitcoin is different from the one that occurred in the fourth quarter of 2025, as investors were investing in the exchange, thereby increasing the bearish pressure.
BTC’s massive withdrawal from crypto exchanges has coincided with renewed demand from investors. For example, BlackRock’s iShares Bitcoin Trust (It will go) has bought over $1.6 billion worth of BTC in the past 10 days. Meanwhile, Strategy Inc.MSTR) raised more than $2.5 billion in BTC earlier this week, according to Finbold he realized.
