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Bitcoin has felt the impact of the ongoing global tariff tensions, with little to no upward momentum. The asset appears to have paused its bull run, dampening investor expectations for a near-term recovery.
Currently trading just above $77,000, BTC has declined nearly 30% from its all-time high, including a 1.6% drop in the last 24 hours. Amid this, a recent insight from CryptoQuant contributor Onchained suggests that Bitcoin is nearing a significant threshold that could determine the asset’s next major direction.
Bitcoin Realized Price Levels in Focus
Onchained’s latest analysis points to the convergence of Bitcoin’s spot price with its 2-Year Realized Price. This metric, derived from on-chain data, calculates the average acquisition cost of coins moved on the blockchain within the past two years.
This price band often serves as a meaningful support level, particularly in transition phases between bear and bull markets. Historically, Bitcoin maintaining price action above the 2-year Realized Price has signaled underlying strength among long-term holders.
Onchained noted that BTC has stayed above this line since October 2023, a sign of sustained investor confidence. If Bitcoin continues to hold this level, it may indicate the establishment of a new value floor, potentially setting the stage for renewed buying pressure.
The analysis adds that a bounce off this support zone could be interpreted as an influx of capital from investors seeing this price level as a strategic accumulation point. However, a breakdown below the 2-year Realized Price could trigger a deeper correction or a longer period of consolidation.
Long Liquidations Amplify Market Volatility
In a separate update, CryptoQuant analyst Darkfost highlighted a significant event that shook the derivatives market. On April 6, the largest Bitcoin long liquidation event of the current bull cycle occurred, wiping out roughly 7,500 BTC in long positions.
The liquidation marked the highest daily volume of forced long position closures since the bull market began. According to Darkfost, this event was largely triggered by rising volatility and uncertainty stemming from US economic policy concerns.
The biggest Bitcoin long liquidation event of this bull cycle
“On April 6, approximately 7,500 Bitcoin in long positions were liquidated, marking the biggest single-day long wipeout of the entire bull run so far.” – By @Darkfost_Coc
Read more ⤵️https://t.co/eqW2JE8TWD pic.twitter.com/IEthwRDRVz
— CryptoQuant.com (@cryptoquant_com) April 9, 2025
In particular, fears around new tariffs under President Trump’s administration have added pressure on global markets, including crypto. The analyst emphasized that such liquidation events serve as reminders of the risks associated with high-leverage positions during uncertain macroeconomic conditions. Darkfost wrote:
This is a clear reminder that we need to stay cautious during periods of rising volatility like today. This is the time to care and preserve your capital.
Featured image created with DALL-E, Chart from TradingView
Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.
Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.
Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.
When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)
Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.
In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.
Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”
PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
