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Analyst: If Bitcoin cannot hold the current range, it will further test the "realized price" level near $54k.
ME News Report, April 7 (UTC+8), cryptocurrency market analyst Axel posted a report on social media stating that the current Bitcoin pullback is significantly smaller than those in 2017-18 (-64.3%) and the same period in 2021-22, and is closer to the mild scenarios of 2013-15, but this does not confirm that a bottom has formed. Bitcoin’s price is currently slightly above 1.25 times the realized price ($67,675), and the market is in a critical valuation zone. As long as this zone can hold, or if the price briefly dips below and quickly recovers, the market structure remains neutral. If the support level continues to break down, it is highly likely to decline toward the realized price ($54,140) in the $54,000–$58k range. (Source: ChainCatcher)