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Although there was a short-term pullback, on a monthly basis, the crypto market is emerging from a "hidden strong cycle."
The latest statistics show that as April approaches its end, Bitcoin's return this month has reached 13.84%, slightly higher than the April historical average return of 13.12%, and significantly above the historical median of 10.05%, potentially recording the strongest single-month performance in nearly 12 months.
In other words:
Prices are adjusting, but the monthly trend is strengthening.
In comparison, Ethereum's performance this month has been relatively mild, with a 10.97% return in April, still below the historical average of 19.16%, showing a clear "structural divergence."
This combination of signals is very important:
BTC: Strengthening but with volatility (trend assets gaining momentum)
ETH: Slightly weak but not breaking the structure (funds still not fully spreading)
From historical patterns, this stage usually corresponds to one of two market states:
1) A consolidation phase during an upward trend
2) The eve of funds dispersing from a single leader to the overall market
Currently leaning more towards the first, but the boundaries are becoming blurred.
More importantly, a detail:
The ability to maintain monthly positive returns despite short-term price retracements indicates that the market is not experiencing a one-sided outflow, but rather structural rotation of funds at high levels.
What does this mean?
A one-sentence summary:
The market is not weakening, but reallocating chips.
Next, key points to observe:
Whether BTC continues to stay strong on the monthly chart in the second half of April
Whether ETH begins to catch up and narrow the gap with BTC
Whether funds are dispersing from the leader to altcoins
The true trend is never defined by daily K-lines, but by the monthly structure. Follow me to understand the most authentic cycle rhythm of the crypto market.
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