AXL demonstrates pronounced liquidity effects in a deleveraging environment, with short-term capital inflows driving nonlinear price surges. On the daily chart, it made a significant bullish breakout above the key resistance level of $0.05, accompanied by notably increased trading volume, while the $0.046 support zone proved effective. Overall market sentiment has turned cautious, perpetual contracts’ funding rates are converging, and short-term investors should beware of profit-taking and potential sideways consolidation. It is recommended to monitor the resistance in the $0.067–$0.077 range; a drop below $0.046 could be seen as a risk signal. Control position sizes within the range, and consider re-entry only after confirmation of technical patterns and volume resonance.

Bitcoin futures open interest has plummeted from $42 billion last October to $21 billion, indicating a significantly lower overall market leverage. In such an environment, even small capital inflows are magnified, fueling sharp volatility in crypto asset prices. As a token with relatively low liquidity, AXL is also susceptible to this ‘minor capital leverage’ effect, resulting in short-term nonlinear price movements.

Bitcoin futures open interest has halved from $42 billion in October 2025 to $21 billion, indicating a deep market deleveraging. Current low leverage means even small capital inflows can significantly impact prices. Funding rates have fluctuated sharply between -12% and +7%, showing rapid shifts in market sentiment. Despite ongoing geopolitical tensions, no major liquidations have occurred since early February, reflecting a healthier position structure. Bitcoin awaits a clear directional trend amid heightened market sensitivity.

Analysis: The market has undergone a round of deep deleveraging, and Bitcoin is waiting to choose a direction.

After oscillating for a prolonged period in the $0.045–$0.050 range, a long bullish candle appeared on April 16, reaching as high as $0.07769 and closing at $0.06724. Trading volume expanded several times above the previous average, breaking through the prior sideways resistance at $0.05, indicating a concentrated release of buying power. Meanwhile, the support around $0.046 was effectively maintained, providing a solid basis for further pullback and bottom formation.

Current market sentiment is cautiously bearish, with perpetual funding rates dropping sharply from positive values to near zero or even slightly negative, indicating rising bearish sentiment. AXL’s rapid surge in a low-leverage environment may trigger short-term profit-taking, so it’s crucial to closely watch whether trading volume continues to expand and how robust the support at pullback is. If Bitcoin can regain clear upward momentum, it could provide further upside for AXL; conversely, if profit-takers exit en masse, a phase of consolidation may follow.

Axelar

It’s not a given that the European Central Bank’s next move on interest rates will be a hike, according to Governing Council member Martins Kazaks.

Kazaks: Will not oppose bets on two interest rate hikes this year

Waller: Rapid resolution of the Middle East situation may allow for interest rate cuts later this year.

Waller: Overall PCE inflation year-over-year in March may reach 3.5%

The Federal Reserve's Waller expressed caution regarding interest rates, warning of the risks of prolonged warfare.

Fed's Daly: Rates May Remain Unchanged

Daly: The federal funds rate is slightly above the neutral level of 3%.

UBS Expects 50 bps Fed Rate Cuts as Gov Miran Downplays Inflation Risks

Federal Reserve's Daly: On hold regarding interest rates.

Easing tensions in the Middle East combined with rising expectations of interest rate cuts have pushed gold close to $4,900.

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Axelar Price: AXL Live Price Today | AXL Market Cap & Chart Analysis | Bybit-eu

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AXL price today is 0.06, with a live price change of -16.24 in the last 24 hours. Convert, buy, sell and trade AXL on Bybit-eu.

Track Axelar live price, market cap, 24-hour trading range, and real-time chart data on Bybit-eu.

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