On April 28, the price of the leading cryptocurrency adjusted to $76,337 after a failed attempt to hold above $79,000. The market faced pressure from weak macroeconomic data from the U.S. and a halt in inflows to spot ETFs.
As of April 28, 2026, at 17:36, the price of digital gold dropped to $75,792, marking a daily decline of 2.6%.
Macroeconomic Factors
The University of Michigan's consumer sentiment index fell to a historic low of 49.8 points. Inflation expectations for the next year rose from 3.8% to 4.8%, while long-term expectations increased to 3.5%, the highest since 2011.
According to Bitfinex, the rise in inflation expectations is hindering the Fed's ability to ease monetary policy. The regulator is concerned that a premature rate cut could exacerbate price increases. The upcoming Federal Reserve meeting is expected to maintain the rate in the range of 3.5-3.75%.
ETF Situation and On-Chain Data
On April 27, the net outflow from U.S. Bitcoin ETFs amounted to $263.18 million, breaking a nine-day streak of inflows and adding caution among traders ahead of the FOMC meeting.
Source: SoSoValue.
Analysts at Glassnode reported a 199% increase in net buying volume, yet total trading volumes fell by 13.8%. This indicates that the current surge is occurring with low speculative activity.
Expert Predictions
QCP Capital identified $82,000 as a key resistance level. GSR noted that the $80,000 mark remains an important psychological barrier, around which a large volume of options is concentrated.
Analyst Ted Pillows pointed out the negative Coinbase premium and the downward trend of the RSI. He believes that if the price does not return above $77,500, the risk of a deeper correction will increase.
$BTC looks heavy here.
— Ted (@TedPillows) April 28, 2026
▫️ Lost its 4-week uptrend
▫️ Coinbase Premium has flipped negative
▫️ RSI making LHs and LLs
If $77,500 level isn't reclaimed soon with strong spot demand, the chances of a bigger correction will go up. pic.twitter.com/KgbEcWBoOY
Trader Peter Brandt added that the current chart pattern "channel" is not a classic reversal pattern and urged investors not to have inflated expectations.
Bitcoiners
— The Factor Report (@PeterLBrandt) April 27, 2026
Those of you predicting $250,000 in 2026 need to stop with the mushrooms
This is called a channel $BTC
While it does not preclude further price gains, it is NOT a bullish bottoming pattern
The Factor Report reports on classical chart analysis https://t.co/6nRit1xsVp pic.twitter.com/ApMM46KFla
Recall that in April, Bernstein analysts identified $60,000 as a "clear bottom" for Bitcoin.