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The price of Bitcoin (BTC) has shown reduced volatility, registering a slight 0.23% gain in the past 24 hours.
The cryptocurrency’s price movement remains subdued as market participants anticipate its next major shift.
While some investors fear a bear market, others remain optimistic about Bitcoin’s long-term outlook.
Bitcoin Shows Signs of a Trend Shift
Market analyst Ali Martinez pointed out that Bitcoin shows developing signs of changing its long-term directional trend.
The main sign of a macro trend shift is observed through the Inter-Exchange Flow Pulse metric, which reveals Bitcoin exchange movements to show a possible start of correctional phases in the market.
The MVRV Ratio is a key metric because it signals when Bitcoin experiences negative momentum.
According to Martinez, the historical movement of the MVRV Ratio has commonly indicated major developments for Bitcoin.
The present market data supports the theory that Bitcoin is moving into a protracted bearish trend.
The crypto market observes large investors becoming more careful, which leads to a decline in their Bitcoin investments.
The platform CryptoQuant documented that Bitcoin miners withdrew more than $27 Million in profits during the current month.
Bitcoin whales managed to withdraw more than $260 Million from their holdings throughout March this year.
The Price of Bitcoin Faces Risk of Further Drops
Bitcoin is receiving considerably less capital than before, suggesting diminishing market sentiment.
According to Glassnode data, Bitcoin capital inflows registered $135 Billion during December 2024 but decreased to a mere $4 Billion in the present time.
Similar inflow numbers only appeared during in October 2023.
Based on such developments, Martinez determined essential price threshold points that could act as stability factors for BTC’s market value.
A significant support area exists in the price range between $66,000 and $69,000. The data supplied by IntoTheBlock reveals that 313,000 BTC purchases occurred from 750,000 investors when the price of Bitcoin reached $69,000.
The Bitcoin UTXO Realized Price Distribution shows investors maintaining significant support at the $69,354 point.
According to the Mayer Multiple, Bitcoin maintains $66,000 as a fundamental support threshold because it passed below its 200-day simple moving average.
Additional declines in the Bitcoin price may occur if the currency cannot stabilize above these support levels.
Bitcoin May Drop to $46,000 Soon
According to Martinez, the Bitcoin price may fall substantially as previous patterns continue.
All previous Bitcoin price dips below the 50-week simple moving average throughout the last ten years resulted in market value falling to reach the 200-week simple moving average.
The current value of the 200-week simple moving average sits at $46,000, which indicates that Bitcoin could move toward this point in the case of bearish developments.
The existing pessimistic market predictions face counter-evidence that points to imminent market recovery.
According to Martinez, the increasing global liquidity supply has usually triggered Bitcoin prices to bounce back.
The current trend indicates Bitcoin may see a price increase toward mid-April when liquidity conditions strengthen.
Charles Edwards, who founded Capriole Investments, analyzes market conditions. He observed that U.S. liquidity seems to be becoming more stable while supporting Bitcoin and other risky assets.
The price of bitcoin price tends to grow after liquidity improves, as it has done in past market cycles.
