Bitfinex report: Bitcoin stands at a key support level, the next few weeks will determine whether it can continue to hit new highs

Mars Finance News, on April 28, Bitfinex released a report stating, "Bitcoin continues to demonstrate strong resilience, rising over 10% in the past week, outperforming traditional risk assets like the S&P 500 index. After experiencing several weeks of oscillating market and low liquidity, Bitcoin has returned to the range low of $94,000 - a key level that supported Bitcoin's upward momentum in setting a historical high in January this year. This rebound is supported by a shift in macro sentiment, especially the optimistic expectations of potential tariff relief measures by the US government, which triggered a global market risk appetite recovery. Bitcoin has also returned above the Short-Term Holder Cost Basis level, around $92,900. This on-chain key indicator is typically viewed as an important dividing line between a correction phase and re-entering bull market momentum. Meanwhile, the Percent Supply in Profit indicator has rebounded to 87.3%, indicating improved market health and increased investor profitability. The next few weeks will be crucial. Currently, market sentiment has not reached an extremely euphoric level, and whether Bitcoin can maintain its current gains in the coming weeks will determine if it can initiate a new round of increases, challenge historical highs, or experience a new round of correction."