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The BCMI indicates that #Bitcoin may now be close to a region that often translates to deep undervaluation.
Bitcoin has rebounded from its April 12 low of $70,500 to trade at $77,982, marking a 10% recovery. Amid the recent price action, Woominkyu, a verified analyst at CryptoQuant, pointed out that the Bitcoin Combined Market Index (BCMI) shows Bitcoin may be testing a historical pivot zone. 
Key Points
The BCMI suggests Bitcoin may be retesting a historical pivot zone.This index sits between 0.2 and 0.3, placing Bitcoin within a historically undervalued range.The SMA(90) is still trending downward, and only a flattening would confirm that selling pressure has eased.Bitcoin sees derivatives conditions that historically led to upward moves in over 80% of cases.
BCMI Shows Bitcoin Undervaluation
Woominkyu noted that the BCMI combines MVRV, NUPL, SOPR, and Fear & Greed indicators into a single reading. This makes it easier to understand overall market conditions, including profitability and sentiment. In general, higher values suggest the market may be overheating, while lower levels indicate undervaluation.
According to the analyst, the BCMI has dropped into the 0.2 to 0.3 range. Chart data places it at exactly 0.33. Earlier, on April 12, the index stood at 0.2969 when Bitcoin corrected to $70,500. While prices have since recovered, the index has only moved up gradually to 0.33.

Market Value and Sentiment at 2023 Levels
In addition, he stressed that the current figures involving the individual data points for the NUPL (25%) and the MVRV ratio (30%) show that the recent correction has reset market value and investor sentiment to levels last seen in early 2023.
At the moment, the MVRV ratio sits at 1.38, which suggests the market is in a healthy growth phase rather than being overvalued. The NUPL stands at 0.24, showing that investors are still holding moderate unrealized profits. 
However, Woominkyu also pointed out that the SMA(90) line is still trending downward. He explained that this trend needs to flatten before traders can say that selling pressure has fully eased.
Where Next for Bitcoin?
Considering these signals, Woominkyu believes Bitcoin is entering what he calls a value-accumulation zone. In this phase, the downside risk appears to be more limited compared to the long-term upside. 
However, he advised that traders remain cautious and wait for clearer signs of price stability before confirming that the market has reached a bottom.
Elsewhere, Michaël van de Poppe observed that Bitcoin funding rates have turned negative, while most options traders are holding put positions. 

According to him, similar situations have happened before and, in more than 80% of those cases, the market moved upward afterward. These moves often led to a wave of short liquidations.
He also pointed out that Bitcoin is currently facing a resistance zone that many traders expect to hold and push prices lower. As a result, most traders are preparing for further downside. 
However, this kind of one-sided expectation can sometimes lead to the opposite outcome. According to van de Poppe, when markets like the Nasdaq move higher, Bitcoin typically follows with stronger moves, and the current situation may not be different.
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#Bitcoin is struggling around a familiar resistance level, as earlier bullish momentum has faded, but the chances of forging ahead remain.
Bitcoin is showing a familiar bullish signal, and the past few days have proved this. The largest cryptocurrency by market cap has demonstrated resilience lately, overcoming early-month setbacks to regain higher prices.
On Tuesday, it rallied to a high of $76,100, its highest price since early February. From the lows of $65,692 this month, this reflected a 15.8% price growth. Currently, BTC has retained just 8.45% of that, as its price has pulled back considerably from the high.
Bitcoin Price Analysis
Yesterday’s intraday high saw Bitcoin (BTC) reclaim a familiar resistance level: the $75,000 mark. It surged past this supply zone to $76,100 but failed to close above it on the daily chart. The selling pressure around the area proved too strong for bulls, pulling the asset’s price to a close at $74,164.

Meanwhile, this is not the first time Bitcoin has failed in its attempt to break this resistance. The premier asset also reached $76,000 on March 17 but met a similar supply wall, forcing an even larger correction than yesterday, down to $73,920.
Stalling at the exact $75,000 resistance not only suggests the market is not yet ready for higher prices but also reemphasizes its importance. The strength gathered after last month’s rejection was not enough to breach the stronghold resistance, putting Bitcoin at risk of dropping lower again.
Interestingly, Bitcoin was not up against this familiar resistance alone but also the 100-day simple moving average (SMA). This dynamic indicator sits at $94,935, joining forces with the usual supply wall around the zone to frustrate bulls.
Failing to clear this resistance puts the Bitcoin price at risk of falling back into the $68,000-$65,000 price range, with the 50-day MA at $69,680 serving as potential support.
$85,000 Still in Sight
Nonetheless, the chances of Bitcoin rallying higher remain. The crypto leader continues to hold the micro support level at $72,000, as identified by analyst Michael van de Poppe. Notably, BTC trades at $74,036 at the time of writing.
Holding $72,000 allows Bitcoin to build the momentum to break the $75,000 resistance. When it closes above the area with strong volume, it could target much higher prices.
Van de Poppe identified the $80,000-$85,000 range as the possible target, claiming it could happen before the end of April. The move would see BTC reclaim levels not seen since late January.
Meanwhile, daily RSI stands at 60.74, indicating that there is still room for further upside before entering the overbought territory above 75. The MACD also signals bullish momentum, with large green histograms not hinting at an imminent price reversal. Additionally, the MACD line at 1,201.91 is well above the signal line at 590.84, supporting bullish price action.
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Latest Market Updates: As of 13th April 2026.
Justin Sun Accuses WLFI of Contract Manipulation
A major controversy has emerged between Justin Sun and the Trump-linked crypto project WLFI, setting the tone for today’s market developments.
In a post on X, Sun alleges that the platform embedded a hidden blacklist function within its smart contract, which was used to freeze his wallet in September 2025 without prior notice.
As WLFI’s largest investor, Sun has raised broader concerns about the project’s governance. Specifically, he claims that voting mechanisms were structured to justify freezing investor assets. In addition, he alleges that the team extracted undisclosed fees and misused community funds. Sun further describes the operation as functioning like a “personal ATM.”
Data from Bubblemaps indicates that Sun’s frozen holdings total roughly 545 million WLFI tokens, which have declined by more than $80 million in value since the freeze.
However, WLFI has strongly denied the allegations, calling them unfounded and accusing Sun of misconduct. The project has also signaled potential legal action, suggesting the dispute could escalate into court proceedings.

XRP Sentiment Falls Into Extreme Fear Zone
While the WLFI dispute dominates headlines, XRP is experiencing a sharp rise in negative sentiment.
Data from Santiment shows that fear, uncertainty, and doubt (FUD) surrounding XRP have reached their third-highest level in two years. In a recent post on X, Santiment noted that such extreme bearish sentiment has historically preceded market rebounds.
At present, XRP is trading at $1.33, down 63.6% from its July 2025 high of $3.65, according to CoinGecko. This prolonged downturn appears to have driven many retail investors out of the market, potentially creating conditions for a sentiment-driven recovery.

Alameda Research Moves $16M SOL for Potential Creditor Repayments
In parallel, developments tied to the FTX bankruptcy continue to unfold. 
Alameda Research has unstaked and transferred approximately $16 million worth of Solana (SOL) tokens to a wallet associated with creditor repayments, according to data from Arkham Intelligence.
This follows a similar transaction about a month ago, reinforcing a pattern of unstaking and reallocating funds. While there has been no official confirmation of imminent payouts, the repeated activity suggests that the repayment process remains active.
Aave DAO Approves $25M Funding Plan for Aave Labs
Amid these developments, decentralized finance continues to push forward. 
The Aave DAO has approved a major funding package for Aave Labs under its “Aave Will Win” initiative, with nearly 75% of voters supporting the proposal. The plan allocates $25 million in stablecoins over 12 months, along with 75,000 AAVE tokens that will vest over four years.
This dual-structure approach aims to sustain operations while aligning long-term incentives. Notably, this vote addresses only the funding component, with additional proposals related to product expansion and ecosystem growth expected in future governance rounds.
Michael Saylor Outlines Bitcoin-Backed Dividend Strategy
Rounding out today’s updates, Michael Saylor has outlined a strategy linking dividend sustainability to Bitcoin’s long-term growth.
In a post on X, Saylor suggested that an annual increase of just 2.05% in Bitcoin’s value could allow MicroStrategy to sustain dividend payments indefinitely. Company data indicates that current reserves could cover dividends for approximately 48.7 years.

MicroStrategy currently holds 766,970 BTC, acquired at an average price of $75,648, with total holdings valued near $54.58 billion. Its preferred stock, STRC, offers an annual yield of 11.5%, trades near its $100 par value, and pays dividends monthly.
Importantly, proceeds from these issuances are reinvested into Bitcoin, reinforcing the company’s long-term accumulation strategy.
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