Bitcoin felt the influence of the ongoing global tension of tariffs, and almost without an increase in the impulse. Assets, apparently, suspended their bull, weakening the expectations of investors for short-term recovery.
Currently, BTC, trading just above 77,000 US dollars, has decreased by almost 30% compared to a record high, including a drop in 1.6% over the past 24 hours. Among this, a recent understanding of the crypto -based participant suggests that Bitcoin is approaching a significant threshold, which can determine the following main direction of the asset.
Bitcoin realized the price level in focus
The last analysis of the Onghenschik indicates the convergence of Bitcoin’s spare price with its 2-year-old price. This indicator, obtained on the basis of data on the chain, calculates the average cost of collecting coins, moved to the blockchain over the past two years.
This price group often serves as a significant level of support, especially at the transitional stages between the markets of a bear and a bull. Historically, Bitcoin maintains a price action above a two -year price, showed the main force among long -term owners.
Oncoval noted that the BTC remains above this line since October 2023, which is a sign of sustainable trust of investors. If Bitcoin continues to hold this level, this may indicate the creation of a new floor of the cost, it may be prepared for the soil for the updated purchase pressure.
The analysis adds that the rebound from this support zone can be interpreted as an influx of capital from investors considering this price level as a strategic accumulation. Nevertheless, the breakdown below the two -year -old price can cause a deeper correction or a longer consolidation period.
Long liquidation enhances market volatility
In a separate update, the analyst Cryptoquant Darkfost highlighted a significant event that shocked the derivative market. On April 6, the largest elimination event occurred in the current bull cycle, wiping about 7500 BTC on long positions.
Liquidation marked the highest daily volume of forced closure of long positions from the moment the Bull market began. According to DarkFost, this event was largely caused by growing volatility and uncertainty arising from the problems of US economic policy.
The largest Elimination of the elimination of bitcoins in this bull cycle
“On April 6, about 7,500 bitcoins in long positions were eliminated, which is noted by the largest one -day long Wipeout of All Bull Run.” – from @darkfost_coc
Read more ⤵https: //t.co/eqw2je8twd pic.twitter.com/iethwrdrvz
– Cryptoquant.com (@cryptoquant_com) April 9, 2025
In particular, the fears around the new tariffs under the administration of President Trump increased pressure on world markets, including crypto. The analyst emphasized that such liquidation events serve as reminders of risks associated with positions with a high level of levers during uncertain macroeconomic conditions. Darkfost wrote:
This is a clear reminder that we should remain careful in periods of growing volatility, as today. It is time to take care and save your capital.
Shown image created with Dall-E, a diagram from TradingView
