- The price of BTC rose by almost 17% in April.
- Due to low demand for Bitcoin, the upward trend is not sustainable.
- There is a high probability of a resumption of the bearish trend in the cryptocurrency market.
Cryptocurrency trader Ted Pillowes, who has been trading cryptocurrencies for over eight years, explained why the Bitcoin bull run will be short-lived.
The price of BTC started to rise on April 2 and in less than two weeks increased By almost 17%. On Tuesday, the coin’s price reached its highest level since February 4, 2026, at $76,170, but Ted is not rushing to rejoice and warns of the danger of a reversal.
There’s a clear divergence between Bitcoin’s price and spot market demand. The price is reaching new highs, while demand for the cryptocurrency is declining. This indicates that the rally is fueled by the futures market, so the upward trend is unsustainable. wrote Pillows.
Ted published a chart showing that the cumulative volume delta decreased during the bullish trend. A decrease in this technical indicator indicates a decline in open order volume in the spot market. This suggests that traders are in no rush to buy and sell coins and are looking to wait out the period of high volatility.
Bitcoin price fluctuations (top) and cumulative volume delta
However, one commentator disagreed with Ted’s view because open interest in the Bitcoin futures market remained low on April 14th and, according to Coinglass data, up by only 0,37% over the past 24 hours. Therefore, it wasn’t derivatives traders that pushed the digital asset’s price higher. In this case, the rise in BTC’s price, despite the drop in demand, can be explained by the low volume of open orders, which actually indicates the weakness of the bullish trend. forecast Pillows, about whom the editors Happy Coin News I wrote on April 9th, it will come true, then Bitcoin will become 50% cheaper.
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