After consecutive drawdowns of 17.39% and 2.3% in February and March, Bitcoin’s (BTC) Q2 is shaping up nicely, with a return of 3.77% in April. While fresh yearly lows were formed at $74,500, BTC is currently closer to $90,000 than its new range bottom.
Bitcoin 1-day chart. Source: Cointelegraph/TradingView
Bitcoin’s higher time frame (HTF) market structure has achieved its first breakout of 2025, fueling optimism among bulls for significant upward momentum. However, the following factors could limit BTC’s gains over the next two weeks, likely capping its price at around $90,000.
Related: Can 3-month Bitcoin RSI highs counter bearish BTC price ‘seasonality?’
Bitcoin needs spot volume, not just leverage-driven
Cointelegraph identified a cooldown period in the futures market as the BTC-USDT futures leverage ratio dropped by 50%. De-leveraging in the futures market is a positive development over the long term,