BlockBeats message: On April 7, crypto market analyst Axel posted a report on social media stating that the current pullback in Bitcoin is clearly smaller than in the 2017–18 (-64.3%) and 2021–22 year-to-date periods, and is closer to the milder scenario seen in 2013–15, but this cannot confirm that a bottom has formed. Bitcoin’s price is currently slightly above 1.25x the realized price ($67,675), and the market is in a critical valuation range. As long as this range can hold, or the price can quickly reclaim itself after a brief break below, the market structure remains largely neutral. If it continues to break below this support range, it will most likely move down toward the realized price and enter the $54.1k–$58k range.
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