The current Bitcoin price has returned to the high of $75,000 and is holding firmly above the key support at $74,000, boosting market risk appetite and indirectly stimulating short-term activity for PUFFER. However, rising funding costs for derivatives longs and a negative basis indicate a retreat in sentiment and profit-taking pressure, causing PUFFER to fall back from its $0.048 high to the $0.03 range. Technically, focus should be placed on the structural support at $0.0238–$0.0240 and resistance zones at $0.0255 and $0.0277. In the short term, be cautious of persistent selling pressure on shrinking volume. It is recommended that investors closely monitor Bitcoin’s trend and macro liquidity changes, dynamically adjust their positions, control drawdowns based on technical support levels, and watch for potential phase layout opportunities when the 20/30-day moving averages turn bullish again.

Recently, Bitcoin's price climbed back above $75,000, breaking through multiple high-concentration trading zones and significantly boosting bullish confidence. With the key support level at $74,000 effectively held, global crypto market risk appetite has rebounded. As a directional indicator asset, Bitcoin experienced sustained accumulation from major bulls during its move toward new yearly highs, driving both trading volume and net capital inflows, which has in the short term spurred market activity for mainstream and mid-small cap tokens, including PUFFER.

Bitcoin recently surpassed $75,000 for the first time in 73 days, facing resistance near $78,000 with $74,000 seen as a critical support level for further gains. Market views diverge: bears cite weak macro liquidity and reliance on short-covering, while bulls highlight strong whale accumulation and potential breakthroughs above key moving averages. The broader market shows mixed signals amid geopolitical developments and fluctuating investor sentiment.

Trading moment: BTC encountered resistance at 78K, and it needs to hold 74K to aim for a breakthrough.

Bitcoin has surpassed a four-week high, rising above $74,000. Analysts identify $75,000 as a critical "volatility release point," where derivative market negative gamma effects may amplify price fluctuations. This level coincides with Bitcoin's 100-day moving average, a key resistance in January. Breaking $75,000 could accelerate an uptrend, while a pullback may increase downward pressure. The $80,000–$80,600 range is a positive gamma zone with lower volatility, and the 200-day moving average at $87,519 serves as a long-term reference.

Analysis: Bitcoin breaks four-week high, key price range may intensify market volatility

As market selling signals intensified, funding costs for derivatives long positions increased, and the spot-futures basis turned negative, indicating growing short-term selling pressure. During this period, PUFFER saw unusual trading volume surges on April 3, with single-day volume peaking at over 110 million and price briefly soaring above $0.048, but then quickly fell back to around $0.03. In the following days, several candles with long lower shadows and a gradual downward movement appeared, reflecting a clear rise in investors' willingness to realize short-term profits as market risk appetite receded.

On the daily chart, PUFFER has repeatedly found support in the $0.0238–$0.0240 range, quickly rebounding after hitting a low of $0.02386 last week, confirming buying interest in that area. Short-term resistance levels lie at $0.0255 and then $0.0277, with multiple attempts to break above these highs failing. Volume pressure has decreased in key resistance areas, indicating continued selling at those levels. If price stabilizes further, watch closely the convergence of the 20-day and 30-day moving averages; should the moving averages turn bullish again, a new upward trend may develop.

Overall, short-term market sentiment is significantly affected by negative gamma effects in derivatives and volatile macro liquidity, with PUFFER showing high volatility correlated with Bitcoin’s moves. However, from a long-term holding perspective, if overall digital asset allocation continues to increase and bulls maintain accumulation trends above key moving averages, growth potential for mid-cap projects remains attractive. Investors should monitor macro liquidity changes and key moving averages of major tokens, adjusting positions dynamically according to their risk appetite to navigate short-term sentiment shocks and seize long-term value opportunities.

Puffer

Insiders: The Bank of Japan is inclined not to raise interest rates in April but will maintain a tightening stance.

EUR/USD: Foreign inflows support upside potential – ING

Summary of Wash's Past Statements: How Will This Prospective "New Leader" Disrupt the Federal Reserve?

Gold: Inflation and Fed risks cap upside – ING

ECB: Lagarde Signals No Near-Term Rate Move – Danske Bank

Nikkei: Bank of Japan to hold rates steady in April

Fed Chair Nominee Kevin Warsh Vows Fed Independence Despite Trump’s Push for Rate Cuts

The probability of the Federal Reserve keeping interest rates unchanged in April has reached 100%.

US Treasuries are still pricing in a war in the Middle East that other asset classes have shrugged off, setting up a drop in yields as they catch up, according to Bank of America.

Lagarde: Broad fiscal support will force the European Central Bank to raise key interest rates.

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PUFFER price today is 0.02, with a live price change of 3.10 in the last 24 hours. Convert, buy, sell and trade PUFFER on Bybit-eu.

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