Following its 2022 peak of $49k in late March, the asset has since seen a consistent downslide, leaving investors ambivalent about its next stop.
Following a consistent downslide, Bitcoin ended the month of March with a value of $46k after reaching a peak of $49k.
The asset hit a low of $39.3k on April 11th, breaking the support level of $40k – the lowest it has been since mid-March.
While short-term holders have capitulated, most long-term holders have remained unmoved with reports of whales accumulating more BTC over time in this current market condition.