Bitcoin (BTC) delivered few surprises on Apr ane as steadier trading conditions prevailed for a third day and volume remained low.

Cryptocurrency market daily overview

Cryptocurrency market daily overview. Source: Coin360

BTC cost shoots to plug futures gap

Data from Coin360 and Cointelegraph Markets painted a decidedly lackluster April Fool's Day 2022 for Bitcoin, which since March xxx had traded in a narrower corridor betwixt $6,100 and $6,600.

Compared with volatility earlier March, conditions were a relief for traders, while compared with the same time last year, the overall picture remained less enthusiastic.

Equally Cointelegraph reported at the time, April one, 2022, sparked a iii-month bull run for BTC/USD, during which the pair topped out at $13,800.

After falling by 70% to hit lows of $3,700 on March 12 this yr, markets then recovered to hit $7,000 before circumvoluted press-time levels of $six,250.

Bitcoin 1-day price chart

Bitcoin ane-24-hour interval price chart. Source: Coin360

Now, analysts were even so risk-averse, despite the encouraging signs which pointed to a long-term recovery continuing.

Cointelegraph Markets analyst Michaël van de Poppe noted that once again, Bitcoin had closed a "gap" in CME Group'south futures which had opened upwardly over the weekend.

"...Rejection at the previous support at $vi,600 and we're moving slightly downward. Nevertheless mainly range-bound, hence the depression volume levels on the markets. However remaining bearish sub $6,900," he told followers in a fresh Twitter update on Tuesday.

"Long term (adjacent iv-6 years) extremely bullish on $BTC."

Glassnode: crash produced "shift in sentiment"

Previously, a formerly bearish Tone Vays had changed his mind most the state of the market place. Bitcoin returning beneath $3,700 was now unlikely, he said, considering that level as the new lesser.

According to monitoring resource Glassnode, meanwhile, "a range" of metrics flipped positive later on the crash.

"On–concatenation metrics used to assess #Bitcoin marketplace cycles are indicating a potential shift in sentiment," the company summarized uploading charts on Mon.

"In the weeks later $BTC'due south price drop, most have bounced out of or sit down in zones that take historically signaled bottoms and expert entry points."

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