Bitcoin Declines Nearly 30% from All-Time High Amid Tariff Tensions

Bitcoin is currently priced above $77,000, down nearly 30% from its all-time high, with a recent 1.6% decline in 24 hours. Investor sentiment is subdued due to global tariff tensions.

Key Insights on Bitcoin's Price Levels

Bitcoin's spot price is approaching its 2-Year Realized Price, which indicates the average acquisition cost of coins moved on-chain within two years.
This price level often serves as a support during market transitions.
BTC has remained above this threshold since October 2023, suggesting sustained investor confidence.
A bounce off this support could indicate renewed buying pressure, while a drop below it may lead to deeper corrections.

Significant Market Events

On April 6, a major liquidation event occurred, wiping out approximately 7,500 BTC in long positions—the largest since the current bull cycle began.
This event was triggered by increased volatility and uncertainty regarding US economic policies.
Analyst Darkfost emphasized the risks of high-leverage positions in volatile markets.

Overall, Bitcoin's current price action and market dynamics highlight ongoing challenges and potential opportunities for investors amid heightened volatility.