Bitcoin Prices Set for Biggest Monthly Gains Since Late 2024

Bitcoin's price is poised to post its best monthly gains since late 2024 if it closes at current levels. According to data from TradingView and CoinGlass, BTC/USD is on track for a 14.3% gain in April, surpassing its performance in November 2024.

The rebound comes as institutional investor capital returns to the crypto space, with US spot Bitcoin exchange-traded funds (ETFs) absorbing nearly 19,000 BTC over the past five days alone. This trend is expected to have a significant impact on Bitcoin market dynamics, with some analysts noting that it could accelerate institutional demand for the cryptocurrency.

However, traders remain cautious, citing multiple resistance hurdles around the $80,000 mark. To regain control, bulls would need to push through these levels and break above the trading range. The immediate supports are at ~$72K and $65K below that.