04 Apr 2023

April Market Outlook: Perfectly imbalanced

Market Wrap Up

In Short

At current levels, I’m neither a seller nor a buyer and intentionally neutral. Unlocked supply points toward downside in April, whereas a more accommodative macro environment on the backdrop of bank failures could represent fruitful conditions for BTC.


  • I brace for a bumpy ride in April with a neutral market view
  • Signs point to increased probability of recession or stagflationary environment
  • A great macro environment for bitcoin
  • The major net buyers of late have less capital available to push prices higher
  • Increased supply in the order books points in the direction of a slowdown in April
April – A great macro environment for BTC
Q1, 2023 ended with a massive 72% gain in BTC after BTC ended March with 23% gains. In my March outlook, I stated that I believed $28k would happen sooner rather than later. I based the argument on technical support and resistance and the illiquid state of the crypto market. While I was correct in my call, I did not envision that I would look back at March as a month of massive bank turmoil and clear signals of a moderating FED, but here we are.
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