Bitcoin and Crypto Bull Market Officially Concluded? Bitcoin Falls Under $75,000

Has the BTC price surge come to an end? BTCUSD plummets beneath $80,000 as sellers take control, wiping out Q4 2024 profits. Will BTC bears prevail in Q2 2024?

A significant change has occurred in the BTC and digital currency landscape. While optimists and proponents claim that the recent downturn is merely a standard correction and that buyers are still leading, prices persist in falling beneath vital support thresholds.

Bitcoin Price Insights

Following the announcement by Donald Trump on April 2 and the onset of reciprocal tariffs, the Bitcoin price saw a brief surge to $88,500 before it sharply declined, breaking through the $85,000 level.

Since that moment, it has been a one-way street, as sellers dominate, pushing the world’s most prestigious coin below the psychologically significant $80,000 threshold. If this trend continues, BTC/USD may not only fall below Q1 2025 lows, but there is a genuine chance of prices plummeting to 2021 highs of approximately $74,000, increasing strain on even some of the top cryptocurrencies to buy in 2025.

If that transpires, sellers would have undone all gains from Q4 2024, leading to the possibility of another decline toward $50,000.

Technical candlestick patterns on the BTC/USDT daily chart indicate a troubling outlook. Immediate local barrier level is identified at $90,000, whereas the price floor zone lies between $75,000 and $78,000.

For an optimistic to materialize, buyers need to engage at the current price levels, acquiring BTC at a lower price. However, if sellers maintain their pressure today, Bitcoin and the wider crypto sector may crumble, worsening last week’s declines as sellers aim for new 2025 lows.

Is the BTC/USD Pump Finished?

This is a possibility that cannot be overlooked and could dash hopes—particularly for holders of some of the leading meme coins to buy.

As the BTC decline heightened concerns, Ki Young Ju, co-founder of CryptoQuant, tweeted that the BTC price surge may now be behind us.

Regrettably, the trading market sentiment remains bearish at this moment, and current trading market indicators suggest more than just a simple correction.

In Ju’s perspective, there are indications that this marks the conclusion of the optimistic cycle that propelled valuations to unprecedented levels in 2024. Analyzing key on-chain data, Ju asserts that strong evidence suggests BTC bulls have little chance of recovery and that the optimistic has concluded.

Central to his analysis are the significant alterations in the realized cap.

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Investment Flowing Into BTC Yet Prices Remain Unchanged

Contrary to the trading market cap measurement, which multiplies the current price of BTC by its supply, the realized cap assesses something different.

It evaluates the total value of Bitcoin based on when coins were last transacted on-chain. In essence, the realized cap gauges the volume of capital entering the crypto market and is influenced by how wallets behave.

(Source)

Ju mentioned that the realized cap serves as a “thermometer for actual money being put into BTC.”

He noted that while the realized cap is on the rise, the trading market cap is either stagnant or decreasing. New capital is entering, yet the crypto market cap is not reflecting this, creating a bearish indication, as the force of selling surpasses the market’s ability to progress.

In a bullish environment, a rising realized cap would typically result in a significant expansion of the crypto market cap, highlighting market demand.

“In a genuine bull crypto market, minor amounts of capital lead to substantial price shifts. When this dynamic reverses—when significant capital inflows fail to create movement—it indicates we are already in a bear market,” remarked the analyst.

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Has Bitcoin Crossed the Threshold?

In a different post, another analyst noted that, based on NUPL (Net Unrealized Profit/Loss) and SOPR (Spent Output Profit Ratio), real selling pressure typically arises approximately 800 days after a uptrend trend commences.

“We have reached the 800-day milestone,” the analyst stated, “this is historically when true selling starts.”

(Source)

Interestingly, the analyst added that selling pressure can take more than 1,000 days to emerge during optimistic trends without unforeseen events.

Nonetheless, the pressure seems to be escalating due to macroeconomic challenges such as tariffs and elevated rates.

The positive aspect is that Bitcoin remains robust. Despite fluctuations, there have been no trading market collapses, largely due to corporate purchases that are helping to stabilize the crypto market.

For the first time in history, BTC is not moving in lockstep with the stock trading market. It’s now behaving like a hedge to geopolitical uncertainty. When the stock trading market plunged during Covid, so did Bitcoin. And this was always case over the last 10+ yrs. But not this time.…

— Tyler Winklevoss (@tyler) April 6, 2025

 

Tyler Winklevoss of Gemini remarked that BTC is also becoming a safeguard against political instability.

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