According to ChainCatcher and Cointelegraph, Julio Moreno, research director at CryptoQuant, stated that Bitcoin has pulled back by 26.6% from its high of $109,500, approaching the largest decline in this bull market. Although not yet comparable to the bear markets of 2022 (-73%) and 2018 (-83%), ecoinometrics noted that BTC's rebound is becoming more difficult against the backdrop of a flat Nasdaq, and the risk of correction remains.
Affected by this, Strategy did not increase its BTC holdings from March 31 to April 6, with a total investment of $35.65 billion, achieving only a 17% return. Additionally, if BTC closes below the 50-week EMA this week, it may signal the start of a bear market, with the current key support level being the $65,000 to $69,000 range.