Analysis: Bitcoin may see consolidation in April and May as selling pressure drops

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

Bitcoin’s selling pressure has fallen sharply, suggesting a period of consolidation through April and May.

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

On an Apr. 1 post on X, CryptoQuant analyst Axel Adler Jr. noted that daily selling volume on major exchanges has dropped from 81,000 Bitcoin to 29,000 BTC. Following this decline, the asset may enter a supply shortage phase with less sellers and consistent demand, setting the stage for the next Bitcoin price movement.

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

A shift in the futures trading market mirrors this trend. In a separate post, Adler noted that short positions surged as bearish traders tried to profit following Bitcoin’s February all-time high. However, this pressure is now weakening, and trading behavior is changing.