Bitcoin Battles Tariff Turmoil: Can the 2-Year Realized Price Hold the Line?
Bitcoin is currently trading just above $77,000, having declined nearly 30% from its all-time high, with a 1.6% drop in the last 24 hours. The asset's upward momentum has stalled amid global tariff tensions, dampening investor expectations for recovery. Analysis from CryptoQuant contributor Onchained indicates that Bitcoin's spot price is converging with its 2-Year Realized Price, a significant support level that historically signals strength among long-term holders. Bitcoin has remained above this level since October 2023, suggesting sustained investor confidence. A bounce off this support could lead to renewed buying pressure, while a drop below may result in deeper corrections. Additionally, a major long liquidation event on April 6 wiped out approximately 7,500 BTC in long positions, marking the highest daily volume of forced closures in the current bull cycle, driven by rising volatility and economic policy concerns.
