Analysts say that if Bitcoin falls below the critical range, it may drop to around $54000

On April 7th, cryptocurrency market analyst Axel stated that the current pullback of Bitcoin is smaller than the same period in 2017-18 and 2021-22, and closer to the mild scenario of 2013-15, but it cannot be confirmed that a bottom has formed yet. At present, the price of Bitcoin is slightly above 1.25 times the realized price ($67675) and is in a critical valuation range. If it continues to fall below this range, it may further explore to the $54000-58000 range near the realized price ($54140).