Despite economic uncertainty and market volatility, Bitcoin demonstrated resilience in April, according to a report from ARK Investment Management. Their analysis highlights mixed signals regarding inflation, market sentiment, and tariffs, pointing to positive momentum for the cryptocurrency. Notably, Bitcoin’s price surged by approximately 14% in April, outperforming the S&P 500 index and recovering quickly from the impact of tariffs on market sentiment. The report also notes that the current price correction hasn’t surpassed 30%, remaining within a typical bull market range. If Bitcoin were to fall by 30%, 50%, or 70% from its historical peak, prices would likely drop to $74,311, $53,080, and $31,848 respectively. Further evidence of this resilience comes from the high number of unrealized losses held by long-term Bitcoin holders (LTH), reaching a level not seen since 2018, according to ARK Investment Management’s report. This suggests potential market oversold conditions. The report emphasizes that despite these gains, the current profitable supply ratio for Bitcoin has remained under 68%, significantly lower than peaks of over 80% observed at historical highs. This indicates a lack of irrational exuberance in the market, according to ARK. Overall, on-chain data supports a healthy consolidation phase within the Bitcoin market.