According to Cointelegraph: A challenging start to Q2 sees Bitcoin losing over 4.5% following its attempt to retest the $68,000 support on April 1st, as the Wall Street open triggered market instability. Despite the best-ever monthly close for Bitcoin, it struggled to capitalize on institutional flows, and stronger support is growing important near the $60,000 level.
Popular trader Daan Crypto Trades cited that the Easter holiday period might be contributory to the current market situation. He expects typical inflows and outflows to resume after the holidays.
Despite losses, Bitcoin still enjoys significant investment support. Material Indicators, a trading resource, highlighted dense bid liquidity extending to $60,000. There seems to be a strong belief amongst investors that Bitcoin will experience new all-time highs after the block subsidy halving.
However, trading firm QCP Capital cautioned investors of growing "downward pressure" across crypto spot markets in the last 24 hours. It also pointed out significant interest in selling calls and buying puts in both Bitcoin and Ethereum.
As Bitcoin's price continues to operate within relatively uncharted domains, challenges arise for institutional investors. However, even amidst uncertain price projections, institutional investors demonstrate a willingness to Dollar-Cost Average (DCA) into positions from this range due to the high conviction of multiple new all-time highs post-halving.