Analysis: Bitcoin’s current correction has reached 26.6%, which may be the biggest drop in this round of bull market

Odaily News Julio Moreno, head of research at CryptoQuant, 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 BTC holdings from March 31 to April 6. The total investment is currently $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. The current key support level is between $65,000 and $69,000.