April 28 $BTC Morning Market Analysis

⭕News:
①@MicroStrategy has once again made a large purchase of $255 million worth of Bitcoin, which is part of its ongoing "Bitcoin strategy," showing that corporate accumulation enthusiasm remains strong.
②The Bitcoin 2026 Conference will be held in Las Vegas. U.S. Senator Cynthia Lummis delivered a keynote speech, emphasizing that the "Clarity Act" will be advanced in May, positioning the U.S. as the "Global Bitcoin Capital," with a continuously improving regulatory environment.

③Overall performance in April has been strong: Bitcoin has risen over 13%, far surpassing traditional assets like gold, with market sentiment shifting from sluggishness at the beginning of the year to "institutional revival."

④Today (April 28-29), the Federal Reserve FOMC meeting will be held, with market focus on interest rate decisions and Powell’s statements.

⭕Funding:
①The U.S. spot Bitcoin ETF has experienced net inflows for nine consecutive days, with approximately $2.43 billion flowing in during April, turning positive for 2026 YTD (total inflow exceeding $5.8 billion). BlackRock’s IBIT saw over $2.1 billion in monthly inflows, dominating the flow, with institutional holdings accounting for a significant proportion of the total supply (institutions’ combined holdings approaching 7%).

②Daily ETF absorption far exceeds new mining supply (about 450 BTC/day vs. net daily ETF inflow of about 1,000 BTC), creating a clear supply tightening.

③Companies like MSTR continue to buy, reducing circulating supply, with institutional funds becoming the main price-setting force.

⭕Technical:
The upcoming market is likely to revolve around a period of choppy, sideways movement, meaning sustained consolidation. Currently, on the daily chart, the upward momentum at this level is gradually weakening. We should also pay attention to the 6-hour and lower timeframes. The key focus now is on the 4-hour chart, where the price is very close to the zero line, and we need to watch whether the fast and slow lines can break below zero. Although the 4-hour trend is still upward, each upward move is losing momentum. Therefore, the next support to watch is whether the 73,700 level can hold effectively. If it does, and the price continues to bottom without breaking down, there’s a chance to challenge the 80,000 level again. In summary, today’s view is mainly to watch for a pullback, with attention to signals from the FOMC meeting.
Support: 75,500-73,700
Resistance: 79,200-80,500