Bitfinex: If BTC holds the key support level of $95,000, the bullish structure is expected to continue
ChainCatcher news, Bitfinex released a report indicating that Bitcoin surged strongly in April, rising by 14.08%. This not only surpassed its historical average performance for April but also successfully reversed the deep correction trend seen at the beginning of the month. From the April low of $74,501, it rebounded to nearly $98,000, with an increase of over 32%, showcasing its resilience amid macroeconomic turmoil and shifts in risk sentiment.The $95,000 level for Bitcoin, which was the lower bound of a three-month consolidation, has become a key technical support level. If it can hold this level, especially with the current price consistently above the short-term holder cost basis ($93,340), it may lay the foundation for a return to historical highs.On-chain data also supports this trend: miner reserves remain stable, and the Puell Multiple indicator shows a lack of incentive for large-scale miner sell-offs, reflecting their confidence in future price increases. Although the short-term trend still depends on whether Bitcoin can convert this technical rebound into solid support, the overall structural signals remain bullish. Once the macro environment stabilizes, it is expected to continue the current bull market cycle.It is reported that the Puell Multiple indicator measures whether miners' daily earnings are high or low compared to the average level over the past year.