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Bitcoin on verge of largest ‘price drawdown’ of the bull market — Analyst

Bitcoin’s (BTC) 26.62% decline from its $109,500 all-time high is en route to becoming the deepest drawdown of the current bull market cycle, according to CryptoQuant head of research, Julio Moreno.

Bitcoin price drawdown analysis. Source: X

Bitcoin has experienced significant drawdowns in past cycles, with a notable 83% drop from its peak in 2018 and a 73% correction from all-time highs (ATH) in 2022. In comparison, the current decline of 26.62%, while substantial, remains less severe than previous bear markets.

This suggests that even though the current downturn is impactful, it has not yet reached the intensity of previous cycles. However, crypto and macro resource ‘ecoinometrics’ said that Bitcoin might struggle to stage an immediate turnaround. The analysts explained,

“Historically, when the NASDAQ 100 falls below its long-term year-on-year average return, Bitcoin tends

Crypto bull market ‘hasn't started yet’ — LONGITUDE panel

Crypto’s worst quarter since the FTX crisis has many investors worried about the end of the bull market, but according to an industry panel, Bitcoin and altcoins’ parabolic moves haven’t even begun yet.

In a panel discussion at the LONGITUDE by Cointelegraph event in Paris, France, MN Capital founder Michael van de Poppe said he thinks the bull market is “actually getting started from this point.”

While it’s hard to believe that following Bitcoin’s (BTC) recent plunge below $80,000 on global tariff woes, “we know from history” that chaotic sell-offs create favorable conditions for a reversal, he said.

Van de Poppe drew parallels between the current market dump and the COVID-19 crash in 2020, when Bitcoin plunged by nearly 40% in a single day.

“That was the actual bottom, and since then, Bitcoin went 20x,” said van de Poppe.

Cointelegraph Managing Editor Gareth Jenkinson, left,

Bitcoin, showing 'signs of resilience', beats stocks, gold as equities fold — Binance

Bitcoin (BTC) is showing “signs of resilience” even as stocks and the broader cryptocurrency market plunge amid a global market sell-off after US President Donald Trump imposed sweeping tariffs on US imports last week, Binance Research said.

As of mid-day trading on April 7, Bitcoin is up almost 1% to nearly $79,000. Meanwhile, the S&P 500 — an index of large US stocks — is essentially flat and front-month gold futures are down around 1.5%, according to Google Finance.

“Even in the wake of recent tariff announcements, BTC has shown some signs of resilience, holding steady or rebounding on days when traditional risk assets faltered,” Binance, the world’s largest cryptocurrency exchange, said in an April 7 research report.

Notably, Bitcoin’s supply of long-term holders continues to rise, “reflecting conviction and limited capitulation during recent volatility,” Binance said.

On April 2, Trump said he was

US govt. sets AI policies across agencies

The US Office of Management and Budget (OMB) issued two directives specifying policies and deadlines for deploying AI tools that enhance public services, providing a roadmap for implementing US President Donald Trump’s executive order advance US “dominance” in the use and development of artificial intelligence.

According to two memorandums from April 3, all government agencies “should invest in the AI marketplace and maximize the use of AI products and services that are developed and produced in the United States.” The memorandums list various deadlines for the adoption of AI, including a 270-day deadline to update policies and procedures.

In early 2025, Trump took significant steps to reshape US policy on emerging technologies by repealing former President Joe Biden’s 2023 executive order on AI safety — arguing it imposed excessive regulations that stifled innovation — and declaring his intention to make the US the “world capital”of AI and cryptocurrency.

Ethereum price falls to 2-year low, but pro traders still have hope

Ether (ETH) price dropped to $1,410 on April 7, marking its lowest level since March 2023. This sharp decline triggered liquidations of leveraged ETH futures worth over $370 million in 2 days, according to CoinGlass data. However, the altcoin managed to recover above the $1,500 mark as the S&P 500 index reclaimed its psychological 5,000 support level.

Ether/USD (blue) vs. total crypto market capitalization (magenta). Source: TradingView / Cointelegraph

Over the past 30 days, Ether has underperformed the broader cryptocurrency market by 14%. Despite this, professional traders are not yet ready to turn bearish, as suggested by Ethereum’s derivatives data and onchain metrics. While this data does not guarantee that Ether’s price has reached its bottom, the reduced demand for bearish positions below $1,600 offers some reassurance for bullish investors.

Ether 2-month futures annualized premium. Source: laevitas.ch

On April 7, the Ether monthly futures

Bloomberg analyst predicts Bitcoin could sink back to $10,000

Diving into the chaos of global markets, Bloomberg Senior Commodity Strategist Mike McGlone warns more turmoil could be on the way.

In an exclusive interview with Cointelegraph, McGlone points to deepening market sell-offs, intensified by US President Donald Trump’s ongoing tariff wars, and forecasts a sharp correction in crypto assets. He predicts Bitcoin could tumble to $10,000, citing excessive speculation and overvaluation within the digital asset space.

“Look at Dogecoin — it still has a $20 billion market cap. It should go to zero. The whole space needs purging, just like the dot-com bubble did.”

According to McGlone, Bitcoin’s current price could face significant downward pressure as part of the broader market resets. Despite the relatively supportive regulatory environment, he cautions that Bitcoin’s “digital gold” narrative is facing a stress test.

“Anybody who bought ETFs is learning the hard way. They did not buy digital gold. They bought more of a value of leveraged

Price analysis 4/7: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LEO

Bitcoin (BTC) made a sharp comeback and is trading near the $78,000 level. The largest cryptocurrency by market capitalization tumbled below the psychological support of $80,000 after the US stock futures market opened sharply lower on April 6. The selling continued on April 7, and Bitcoin hit a new year-to-date low of $74,508, but lower levels attracted solid buying by the bulls.

The bearish macroeconomic picture sent the Fear & Greed Index of the US stock markets to just 4/100. Usually, such periods of panic selling form a bottom as most weak hands and leveraged players capitulate. Once that happens, the recovery is likely to be sharp.

Daily cryptocurrency market performance. Source: Coin360

However, it is a good strategy to remain cautious and not overleverage on trades in the short term as the

Bitcoin, stocks crumble after ‘90 day tariff pause’ deemed fake news — BTC whales keep accumulating

Global financial markets continued to tumble on April 7, as US equities dropped more than 3%, wiping more than $2 trillion in value on market open. The pullback saw the S&P 500 drop 2.79%, with the index officially entering a bear market, following a 20% decline from its recent all-time highs.

However, the SPX momentarily rallied by 6% after a rumor began to spread on X that US President Donald Trump was contemplating a 90-day tariff pause. Bitcoin (BTC) price also rallied above $80,000, but after 30 minutes of positive price action, the White House confirmed that the rumor was not true.

Source: X

The S&P 500 is currently in positive territory for the day. Still, despite this uptick, the sustainability of the recovery remains uncertain as bearish undercurrents remain the same as before the tariff-pause rumor started to circulate.

In Asia

Pakistan appoints Changpeng Zhao as crypto adviser as adoption heats up

Former Binance CEO Changpeng “CZ” Zhao has been appointed as an adviser to Pakistan’s Crypto Council, a newly formed regulatory body tasked with overseeing the country’s embrace of blockchain technology and digital assets.

The appointment was confirmed by Pakistan’s finance ministry and reported by Bloomberg on April 7. Zhao will advise the regulatory body on cryptocurrency regulation, infrastructure and adoption, Bloomberg reported.

CZ is seen signing documents during his appointment by Pakistan’s Ministry of Finance. Source: Business Recorder

Zhao is one of the most recognizable names in crypto, having served as CEO of Binance between 2017 and 2023. He resigned as CEO of the exchange in November 2023 after pleading guilty to charges related to violating US money laundering laws. He was later sentenced to four months in prison.

For Pakistan, Zhao is a high-profile appointment that could potentially help the country lure foreign

Metaplanet repays 2B yen bonds early, CEO comments on BTC ‘down days’

Metaplanet, a Japanese hotel manager turned Bitcoin treasury company, has fully repaid 2 billion yen ($13.5 million) worth of bonds ahead of schedule as it seeks to shore up its financial position.

Metaplanet conducted an early redemption of its 9th Series of Ordinary Bonds on April 4, more than five months before the maturity date, the company disclosed on April 7.

The zero-interest bonds were issued in March through Metaplanet’s Evo Fund and used to acquire additional Bitcoin (BTC). Since the bonds carry zero interest, the repayment would not have a material impact on the company’s fiscal 2025 results, it said.

Source: Metaplanet

Metaplanet, which trades publicly on the Tokyo stock exchange, has made Bitcoin the center of its corporate strategy through a series of acquisitions. The company’s Bitcoin