#Choppy Market – Long or Short?

From a technical perspective and on-chain data, the on-chain activity of Bitcoin, address activity, and transaction volume have recently rebounded, indicating that long-term holders still have confidence. In early April, the net inflow of BTC to exchanges increased, leading to a rise in short-term selling pressure, but long-term investors are still accumulating positions. The on-chain transaction volume of USDT has increased, showing that external funds are on the sidelines. From a technical indicator standpoint, the overall market is in a high volatility phase, with the correlation between Bitcoin, Ethereum, and the S&P 500 rising, indicating that macro factors are dominating short-term trends. Oversold signals have appeared in the market, such as the RSI and Stochastics indicators, increasing the probability of a short-term rebound, but a breakthrough of key resistance is needed to confirm a trend reversal.