\n<\/p>\n
Bitcoin\u2019s price dropped suddenly in the past few hours, tanking from slightly less than $83,000 to below $79,000.<\/p>\n
In doing so, the market saw a spike in liquidation levels, as leveraged positions worth almost $600 million were wiped off, according<\/a> to data from CoinGlass.<\/p>\n The move comes following a few \u2018calm\u2019 days during which BTC was outperforming major indices, prompting many to outline its properties as digital store of value.<\/p>\n Commenting on the matter was Jonatan Randing, a popular analyst, who outlined that BTC appears to be on its way of hitting the Weekly 50 EMA, which has historically acted as a good level of support during bull markets, promptly asking the question if we are in a bull market at all.<\/p>\n Bitcoin about to hit the Weekly 50 EMA \u2013 Historically a good level of support in bull markets.<\/p>\n But are we in a bull market? pic.twitter.com\/otbb0xUzpw<\/a><\/p>\n \u2014 Jonatan Randin (@JonatanRLZ) April 6, 2025<\/a><\/p>\n<\/blockquote>\n Meanwhile, the markets are under serious tension in anticipation of reciprocal tariffs on behalf of the European Union, following Trump\u2019s decision<\/a> to impose a 20% levies on EU imports.<\/p>\n It appears traders are bracing for a \u2018bloody\u2019 market open on Monday following what was the worst trading week for major indices such as the S&P 500, NASDAQ 100, and the DJI since the COVID crash in 2020.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n <\/p><\/div>\n\n
\nBinance Free $600 (CryptoPotato Exclusive): Use this link<\/a> to register a new account and receive $600 exclusive welcome offer on Binance<\/b> (full details<\/a>).<\/p>\n
![<\/a>Source: TradingView<\/figcaption><\/figure>\nThe move comes following a few \u2018calm\u2019 days during which BTC was outperforming major indices, prompting many to outline its properties as digital store of value.<\/p>\nCommenting on the matter was Jonatan Randing, a popular analyst, who outlined that BTC appears to be on its way of hitting the Weekly 50 EMA, which has historically acted as a good level of support during bull markets, promptly asking the question if we are in a bull market at all.<\/p>\n\nBitcoin about to hit the Weekly 50 EMA \u2013 Historically a good level of support in bull markets.<\/p>\nBut are we in a bull market? pic.twitter.com\/otbb0xUzpw<\/a><\/p>\n\u2014 Jonatan Randin (@JonatanRLZ) April 6, 2025<\/a><\/p>\n<\/blockquote>\nMeanwhile, the markets are under serious tension in anticipation of reciprocal tariffs on behalf of the European Union, following Trump\u2019s decision<\/a> to impose a 20% levies on EU imports.<\/p>\nIt appears traders are bracing for a \u2018bloody\u2019 market open on Monday following what was the worst trading week for major indices such as the S&P 500, NASDAQ 100, and the DJI since the COVID crash in 2020.<\/p>\n\nSPECIAL OFFER (Sponsored)<\/span><\/center>\nBinance Free $600 (CryptoPotato Exclusive): Use this link<\/a> to register a new account and receive $600 exclusive welcome offer on Binance<\/b> (full details<\/a>).<\/p>\nLIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n<\/p><\/div>\n](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/04\/BTCUSD_2025-04-06_22-15-31.png\"){kind=link}