CryptoQuant Senior Analyst Julio Moreno released a report, diagnosing that although Bitcoin's price has been rising since early April, it is a bear market rebound. According to The Block, the report explained, "Bitcoin has risen more than 20% since early April, reaching a three-month high. This rise is the result of a combination of previous undervaluation, eased macroeconomic pressures, and a surge in perpetual futures demand." It added, "This movement is a bear market rally. While Bitcoin holders are taking profits as the price rises, it may take time for a correction to appear."
