Not What We Want in Terms of BTC Stock Correlation – Things to Know about Bitcoin This Week

Is there anything that can save Bitcoin from a stock market crash? This week, not everyone is bearish.

Bitcoin (BTC) is off to a stuttering start in the second week of April, as bulls fight to maintain support above $40,000.

The current weekly close saw market worries return after a refreshingly low-volatility weekend, and BTC/USD dropped in typical form in the final hours of April 10.

For the typical hodler, it’s like being trapped between two stools right now: macro factors promise huge trend shifts, but they’re taking a long time to materialise. At the same time, there is no “serious” buyer demand for crypto assets in general.

Those on the inside, on the other hand, show no signs of scepticism, as indicated by all-time high Bitcoin network fundamentals and more.

Price activity that doesn’t seem to know where to go next as a result of the confluence of these opposing variables. Is there a chance that something may change in the following week?

As a retest of $40,000 comes closer, Cointelegraph examines five potential Bitcoin price indications.

No Massive Drawdown for BTC

April 11 begins with a $42,000 recapture for BTC/USD, which was briefly lost overnight when the pair dropped towards the weekly close.

Bitcoin touched its lowest values in weeks, matching those on March 23, when it hit $41,771 on Bitstamp.

As a result, the largest cryptocurrency, Bitcoin, has given up all of its gains in the interim, falling back to the top of its trading range from last month.

This could, however, turn out to be a retest of earlier resistance as support. Rather of dreading the worst, many traders are optimistic that a turnaround will occur soon.

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