Analyst: BTC rebound may increase odds of further decline

Bitcoin's rebound early this month without a sharp initial drop may actually increase the likelihood of a further decline, according to one analyst. Mignolet, a CoinNess Content Creator (CC) and crypto analyst, argued on X that a swift drop in early April might have been healthier for the market in terms of volatility. He explained that while the recent rebound, fueled by plausible narratives, is rebuilding market expectations, he does not see this as a positive development. If this pattern persists, the chances of another drop could increase, he said. Mignolet stated that he has been highlighting a bearish cycle since last August and will make his position clear when he believes a bull cycle has started, adding that now is not that time. He concluded by saying that long-time followers know he is typically a very bullish investor.