MANTRA is launching a $108 million fund to support startups focused on improving RWA tokenization, a key use case for crypto.

MANTRA launches $108M fund for real-world asset innovation

Bitcoin&#8217;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 &#8216;ecoinometrics&#8217; said that Bitcoin might struggle to stage an 
immediate turnaround. The analysts explained,
&gt; &#8220;Historically, when the NASDAQ 100 falls below its long-term year-on-year 
&gt; average return, Bitcoin tends to grow more slowly. It also faces a higher 
&gt; risk of entering a severe correction.&#8221;
_Bitcoin and Nasdaq correlation. Source: X / Ecoinometrics_
With the Nasdaq 100 currently flat year-on-year, Bitcoin&#8217;s price recovery 
might be difficult, even if the correction halts.
The recent Bitcoin (BTC) price drop also put Michael Saylor&#8217;s Strategy on the 
defensive, with the firm opting not to purchase any BTC for its treasury 
between March 31 and April 6.
Additionally, data from Strategytracker highlighted that the corporation spent 
$35.65 billion on its Bitcoin holdings, currently reflecting a mere 17% return 
on a five-year holding period.
_**Related: Michael Saylor &#8216;s Strategy halts Bitcoin buys despite dip below 
$87K**_
## Can Bitcoin hold a position above $70K?
On the weekly chart, Bitcoin tested the 50-weekly exponential moving average 
(blue indicator) for the first time since September 2024. A weekly close below 
the 50-W EMA has signaled the beginning of a bear market in previous market 
cycles.
_Bitcoin weekly chart. Source: Cointelegraph/TradingView_
The immediate point of interest below the current price remains at $74,000, 
which was the early 2024 all-time high. However, the daily demand zone between 
$65,000 and $69,000 could be a bigger liquidity level based on its 
significance. The $69,000 level is also the 2021 all-time high price.
Additionally, Bitcoin&#8217;s weekly relative strength index, RSI, reached its 
lowest value of 43 since January 2023 at the end of Q1. In August 2023 and 
September 2024, the RSI recovered from a similar value to trigger a price 
recovery for Bitcoin. In 2022, when RSI dropped below 40, bears took total 
control of the market.
Anonymous crypto trader Rekt Capital also predicted based on daily RSI value 
and said,
&gt; &#8220;Historical daily RSI trends in this cycle suggest anything from current 
&gt; prices to ~$70,000 is likely to be the bottom on this correction.&#8221;
_**Related: Bitcoin, stocks crumble after &#8217;90 day tariff pause&#8217; deemed fake 
news &#8212; BTC whales keep accumulating**_
This article does not contain investment advice or recommendations. Every 
investment and trading move involves risk, and readers should conduct their 
own research when making a decision.

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

As Wall Street is flashing red, JPMorgan CEO Jamie Dimon warns soaring 
inflation, spiraling tariffs, and shaken confidence signal a recession that 
could upend global markets. JPMorgan&#8217;s CEO Flags Recession Threat With 
Inflation Roaring and a Market Meltdown Near Jamie Dimon, the top executive at 
JPMorgan Chase, raised alarm Monday in his annual letter to […]

Jamie Dimon Warns of Inflation Shock and Recession Risk as Market Teeters on Collapse

Crypto attorney James A. Murphy, known online as &#8220;MetaLawMan,&#8221; has filed a 
lawsuit against the U.S. Department of Homeland Security. This lawsuit seeks 
documents that may disclose the identity of Satoshi Nakamoto, the pseudonymous 
creator of Bitcoin (BTC). Filed in…

Crypto lawyer sues US gov to reveal Bitcoin creator’s identity

BNB Coin has entered a significant corrective phase after forming a Swing 
Failure Pattern near its all-time high of $798. Since then, the asset has been 
trending lower, with no confirmed bottom in place. As the broader crypto 
market consolidates…

BNB outpaces Solana amid market slump, $400 becomes key level

Crypto&#8217;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&#8217; parabolic moves haven&#8217;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 &#8220;actually getting started from this point.&#8221;
While it&#8217;s hard to believe that following Bitcoin&#8217;s (BTC) recent plunge below 
$80,000 on global tariff woes, &#8220;we know from history&#8221; 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.
&#8220;That was the actual bottom, and since then, Bitcoin went 20x,&#8221; said van de 
Poppe.
_Cointelegraph Managing Editor Gareth Jenkinson, left, moderates a panel with 
three crypto experts in Paris, France, on April 7. Source: Cointelegraph_
Messari CEO Eric Turner agreed, saying, &#8220;We never had a bull market,&#8221; but 
rather &#8220;two sides of the market.&#8221;
&#8220;We had Bitcoin where all the flows went into [exchange-traded funds]&#8221; and 
&#8220;then you have pockets of things,&#8221; such as the memecoin frenzy and other 
short-term trends, he said.
&#8220;I actually think the real question is, when does the bull market come? If you 
ask me, that&#8217;s going to be Q3, Q4 of this year,&#8221; said Turner.
Beyond short-term price action, it helps to look at the big picture, 
especially in the United States, said John Patrick Mullin, the co-founder and 
CEO of Mantra. Mullin said he&#8217;s &#8220;excited&#8221; about all of the favorable policy 
tailwinds coming from the United States, including the Executive Branch.
_**Related:**__**VC Roundup: 8-figure funding deals suggest crypto bull market 
far from over**_
## Favorable policy, bad macro environment
US President Donald Trump is overseeing an overhaul of crypto regulations in 
Washington, with lawmakers moving closer to passing landmark stablecoin and 
market structure bills.
Trump has also appointed pro-crypto leaders to various positions, chief among 
them being Paul Atkins, who recently moved one step closer to securing the 
nomination as chair of the Securities and Exchange Commission.
However, these positive developments have failed to kickstart the bull market 
or bring meaningful capital flows into the industry, largely because Trump&#8217;s 
other agenda items &#8212; namely, tackling perceived trade imbalances &#8212; have 
triggered growth fears.
Trump&#8217;s &#8220;Liberation Day&#8221; tariffs on April 2 were perceived by many investors 
as an egregious attempt to rewrite the terms of global trade, as they went 
beyond the 10% universal tariff proposed initially.
_Source:__Andrea Junker_
The tariff announcement triggered the largest exodus from US stocks since the 
COVID-19 pandemic.
However, if past crises like COVID-19 are anything to go by, the US Federal 
Reserve will likely step in at some point to backstop the market should things 
get progressively worse.
&#8220;[&#8230;] If you go back in time with another crisis and at some point the Fed 
steps in to lower the rates and to print money to stimulate the internal 
economy,&#8221; van de Poppe said during the panel discussion.
&#8220;So, it&#8217;s going to happen. The question is when,&#8221; said van de Poppe.
_**Magazine:**__**Bitcoin heading to $70K soon? Crypto baller funds SpaceX 
flight: Hodler &#8216;s Digest, March 30 &#8211; April 5**_