Bitcoin's RVTS (Realized Value Transaction Volume) Ratio rose toward 85, a record level that suggests adjusted on-chain volume is shrinking even as price stays firm. At press time, BTC traded near $66,940, holding above the $65,800 support area while moving within a tight $66,569–$67,200 range. Long-term holder supply increased to 14.90 million BTC and exchange reserves sat near 2.7 million BTC, pointing to tighter supply as broader activity remained subdued.

Bitcoin spent March trading mostly between $63,000 and $71,000 after a brief push to $75,000, and it was priced at $66,930 at press time. On-chain readings suggest the main sell-side flow is coming from short-term holders, while older cohorts are largely inactive. The analysis also notes that the market has held its range despite ongoing STH distribution, which historically often coincided with sharper pullbacks.

Bitcoin whale wallets added 10,000 BTC between April 1 and April 3, lifting whale holdings from about 4.21 million BTC to more than 4.23 million BTC. The purchases were valued at roughly $670 million as BTC traded below $70,000 and hovered near the $66,000 level. The accumulation came as broader sentiment remained bearish and price action stayed mostly in the red for the week.

Crypto markets saw renewed volatility and institutional momentum, including a $440M liquidation event as bitcoin dropped below $66,000. Coinbase said it received conditional OCC approval for a national trust charter, while a long-idle wallet last active in May 2014 moved 500 BTC in five transfers. Corporate buying also continued as Metaplanet reported 5,075 BTC purchased in Q1 2026, lifting holdings to 40,177 BTC.

At 8 a.m. Eastern time on April 4, 2026, bitcoin traded at $67,109, giving it a $1.32 trillion market cap and $45.26 billion in 24-hour volume. Price moved between $65,934 and $69,074 as BTC stayed capped below the $69,000 area, with indicators such as RSI 42 and MACD −894 pointing to lingering downside pressure.

On April 3, analyst Darkfost said Bitcoin retail participation hit a record low, with transactions under 1 BTC dropping sharply. Using Binance data, the 30-day moving average of retail BTC inflows was reported at 332 BTC, the lowest since the exchange launched in 2017. The post attributed the decline to mixed factors, including ETF adoption since January 2024 and some capital rotation into other markets.

Bitcoin could trigger a large short squeeze if price climbs 7.5% from about $67,100 to $72,000, a move that would liquidate an estimated $2.5 billion in BTC futures shorts. Bears have added positions since March 25 amid war-driven oil strength and other macro pressures, while a ceasefire or renewed US-listed Bitcoin ETF inflows could help push BTC back toward $72,000.

Trader and commentator Scott Melker says the current Bitcoin drawdown should be viewed as a deep bull-market dip rather than a classic bear market, after BTC peaked at $126K in October 2025. He points to four bottom-type signals he tracks—weekly RSI extremes, an all-time-low Fear & Greed reading, record "Bitcoin going to zero" search interest, and price nearing the 200-week moving average—while arguing altcoin liquidity has been pulled into prediction markets.