Analyst: The sentiment in the Bitcoin market appears to be cautious.

BTC Markets analyst Rachael Lucas said that due to the lack of favorable seasonal factors, the sentiment in the Bitcoin market seems cautious. Lucas stated that on Wednesday, Bitcoin was trading around $68,000, lower than the $70,000-72,000 range needed to establish stronger market belief. Although historically April is the strongest performing month for this asset, this year's market trend has deviated from the seasonal pattern. Lucas pointed out that investors have reacted neutrally to recent stock market volatility, indicating a wait-and-see attitude in the market rather than buying positions for an increase. On the downside, traders are focusing on $65,000 as a recent support level, and if it weakens further, it could push the price towards $56,800. On the upside, a breakout above $79,000 would be more significant and signal the arrival of a new bullish trend. Bitcoin has risen by 1.2%, trading at $68,981.84.