On April 2, Bitcoin dipped below $67,000 following a controversial statement by U.S. President Donald Trump regarding the Middle East conflict.
Earlier, Trump stated in a televised address that the war with Iran was “close to ending.” However, he also promised to deliver an “extremely strong” blow within three to four weeks that would “send the country back to the Stone Age.”
Following the statement, all markets, including the S&P 500, Nasdaq, gold, and cryptocurrencies, declined. Only oil showed an increase.
At one point, Bitcoin fell to $65,700.
The situation stabilized by Thursday evening when reports emerged about Iran and Oman developing a protocol to monitor movement in the Strait of Hormuz.
“These requirements will not mean restrictions but are intended to facilitate and ensure safe passage and provide better services to ships on this route,” said Iran’s Deputy Minister of Justice and International Affairs Kazem Gharibabadi.
The news “invigorated” investors, allowing some of the recent losses to be recovered. At the time of writing, Bitcoin is trading around $66,800, having lost 3% over the day.
Similar to 2022
An analyst known as Ali noted that from the October 2025 peak at $126,000, Bitcoin has corrected by 52%.
Following the October 2025 peak, Bitcoin $BTC has already seen a 52% correction. On February 27, 2026, we saw the 3-day SMA cross once again. As of today, we are exactly 30 days into this signal.
If history “rhymes,” we are likely entering the Final Accumulation Window of this… https://t.co/NB4vtVMaFx pic.twitter.com/gMn1MxjzKK
— Ali Charts (@alicharts) April 1, 2026
According to his observations, on February 27, 2026, the 50- and 200-day moving averages crossed on Bitcoin’s three-day chart. April 1 marked exactly 30 days since the signal was triggered.
“If the trend repeats, we are likely to enter the final accumulation window of this cycle within the next three to six days,” Ali believes.
The situation could lead to another deep drop of 50% from current levels—approximately to $30,000.
An analyst known as Ardi pointed out the high concentration of long positions in Bitcoin with liquidation around $63,000. Currently, the price is “extremely” close to this zone.
Now that is a heavy long-liquidation node waiting to get taken on $BTC.
Look how close it is to price. Yes, it has been acting as support, but the problem is that the more times support gets used, the weaker it usually becomes.
At some point, the market stops bouncing from it… pic.twitter.com/UDhe2eJDh9
— Ardi (@ArdiNSC) April 2, 2026
“Yes, this level acts as support, but the problem is that the more often support is used, the weaker it becomes. At some point, the market stops bouncing and starts breaking through. If this liquidity cluster collapses, I would not expect a slow decline. I would expect a sharp liquidation,” he added.
According to CryptoQuant analyst Axel Adler Jr., the structure of the Fear and Greed Index shows similarities to 2022, recording equally low values around 10-15%. Meanwhile, the 365-day moving average of the indicator “is still too high for a full bear market reset.”
Alphractal Director Zhao Wedson noted that transaction fees on the Bitcoin network have also fallen to 2022 lows and one of the lowest levels in the past six years.
According to him, historically weak on-chain demand often precedes a period of increased volatility.
“A moment of extremely dull market dynamics. Let’s just break out of this range [$60,000-70,000], and Bitcoin will become much more interesting again,” concluded MN Trading founder Michaël van de Poppe.
As reported, major holders have shifted from accumulating the leading cryptocurrency to distributing it, and this trend is considered long-term by CryptoQuant.