Odaily Planet Daily News CryptoQuant Research Director Julio Moreno said that Bitcoin has fallen 26.6% from its high of $109,500, close to the biggest drop in this bull market. Although it is not as bad as the bear markets in 2022 (-73%) and 2018 (-83%), the analysis agency ecoinometrics pointed out that with the Nasdaq remaining flat year-on-year, it is more difficult for BTC to rebound and the risk of a correction remains.
Affected by this, Strategy did not increase its holdings of BTC from March 31 to April 6, and currently has a total investment of $35.65 billion, with only a 17% return. In addition, if BTC closes below the 50-week EMA this week, it may indicate the start of a bear market, and the current key support level is between $65,000 and $69,000.