Market uncertainties, particularly surrounding geopolitical issues and trade disruptions, have led to warnings that Bitcoin could test the $70,000 level.

A drop below $70,000 could radically alter Bitcoin's market dynamics, increasing its volatility and correlation with traditional financial systems.

Some analysts view the current dip as a shakeout designed to eliminate weaker investors, with van de Poppe referring to it as 'a gift' for late buyers.

This decline marks a significant downturn, with Bitcoin dropping around 30% from its all-time high of $109,000 amid ongoing global market turmoil.

Despite large purchases by firms like MicroStrategy, the excessive sell pressure is preventing prices from rising, indicating a challenging market environment.

Analysts warn that Bitcoin is at a critical price level; if it fails to maintain above $68,000, it could drop to $65,000, and a further decline to $49,000 would indicate a bearish outlook.

CryptoQuant's CEO, Ki Young Ju, suggests that Bitcoin's current price behavior indicates its bull market may be over, as the market cap remains stagnant despite incoming capital.

Van de Poppe notes that Bitcoin's performance is closely tied to traditional market forces, particularly in light of fears stemming from American trade policies.

If Bitcoin loses its former trend line at $75,000, it may experience a drastic decline after already losing support around $83,000.

Van de Poppe also highlighted the potential for altcoins to gain traction as Bitcoin consolidates, noting that altcoins have had a disastrous quarter.

Investors are advised to closely monitor global market trends and trade policy changes, as Bitcoin's future hinges on its response to current economic instability.

As of April 7, 2025, Bitcoin is trading at approximately $77,000, having declined over 7% in the last 24 hours from a peak of $84,000 earlier in the week.