04 Apr 2023
April Market Outlook: Perfectly imbalanced
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.
Takeaways
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
