WCIR #004 April 2026 Update — Bitcoin

Apr 12, 2026

Bitcoin is currently trading around $71K, marking a clear recovery from the recent stress phase.

But this isn’t a breakout.

It’s a transition.

The market has shifted from macro-driven pressure → early stabilization, supported by improving ETF flows and easing geopolitical stress.

Flows are the key change.

After mixed sessions earlier in the week, the last two trading days showed strong positive inflows. That matters more than price.

Demand is returning.

At the same time, exchange supply remains structurally tight at ~3.04M BTC, meaning there is still no meaningful sell-side expansion.

On the network side, Bitcoin continues to operate at extreme strength, with hashrate around 1,026 EH/s. There is no structural weakness here.

Macro conditions have improved, but they are not fully supportive yet.

Oil has come down from panic levels, but remains elevated.

Yields are still high.

The dollar is still firm.

This is not a clean liquidity expansion environment — just less restrictive than before.

Sentiment is still in Extreme Fear, which is important.

Price has recovered, but positioning has not.

That’s typical of late accumulation phases.

WCIR Read

Interpretation

Bitcoin is currently in:

Late Accumulation → Attempting Expansion

This is the strongest transition we’ve seen in this cycle phase so far.

But confirmation requires:

What Happens Next

Two paths matter:

Bullish path

→ Expansion phase begins

Bearish path

→ Another reset phase

Final Take

This is not a price-driven moment.

This is a structure-driven transition.

Most people will wait for confirmation.

That usually comes later.

Meridian Signal

Independent Strategic Intelligence Desk

General informational analysis. Not financial advice.

Meridian Signal