Bitcoin has heard the impact of global tariff voltages in progress, with little or no moment upwards. The asset seems to have paused his tour of Tori, dampening the expectations of investors for a short -term recovery.
Currently exchanging just over $ 77,000, BTC has decreased by almost 30% from its maximum of all time, including a drop of 1.6% in the last 24 hours. In the midst of this, a recent intuition of the cryptoquate onchained collaborator suggests that Bitcoin is approaching a significant threshold that could determine the next main direction of the activity.
Bitcoin has made the focus levels
The last analysis of Onchained indicates the convergence of the Bitcoin spot price with its price made at 2 years. This metric, derived from chain data, calculates the average cost of acquiring coins moved to the blockchain in the last two years.
This price band often acts for significant support level, in particular in the transition phases between bear markets and bulls. Historically, Bitcoin which maintains an action of the prices above the 2 -year price made the underlying strength among the long -term owners.
Onchained observed that BTC remained above this line since October 2023, a sign of confidence in the investors supported. If Bitcoin continues to hold this level, it can indicate the establishment of a new value floor, potentially preparing the phases for a renewed purchase pressure.
The analysis adds that a rebound of this support area could be interpreted as an influx of capital from investors that see this level of price as a strategic storage point. However, a break below the 2 -year price could trigger a deeper correction or longer consolidation period.
Long liquidations amplify market volatility
In a separate update, the cryptoquate Darkfost analyst highlighted a significant event that has shaken the derivative market. On April 6, the largest Bitcoin liquidation event along the current bull cycle occurred, erasing about 7,500 BTCs in long positions.
The liquidation has marked the highest daily volume of long position closures forced since the beginning of the bull market. According to Darkfost, this event has been widely triggered by the increase in volatility and uncertainty deriving from the concerns of the United States economic policy.
The largest Bitcoin liquidation event for a long time in this cycle of bull
“On April 6, about 7,500 bitcoins in long positions have been liquidated, marking so far the largest duration of a single day of the entire bull race.” – From @Darkfost_coc
To find out more
https://t.co/eqw2je8twd pic.twitter.com/iethwrdrvz
– Cryptoquant.com (@cryptquant_com) April 9, 2025
In particular, the fears for the new rates under the administration of President Trump have added pressure on global markets, including Crypto. The analyst stressed that these liquidation events serve as a reminder of the risks associated with high leverage positions during uncertain macroeconomic conditions. Darkfost wrote:
This is a clear reminder that we must remain cautious during the periods of growing volatility as today. This is time to take care and preserve your capital.
Foreground image created with Dall-E, Tradingview graphic designer