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Bitcoin could remain in a bear market for at least six months, according to CryptoQuant CEO Ki Young Ju, as on-chain data shows a lack of price movement despite rising capital inflows. Bitcoin ( BTC ) has had a rough start in April, falling to a three-week low of $77,077. In an Apr. 5 post on X, Ju pointed out how the current Bitcoin bear market condition is reflected in on-chain metrics like market cap and realized cap. Realized cap determines the actual amount of money entering Bitcoin based on wallet movements, while market cap is based on the most recent price on exchanges. A bear market is typically shown by stagnation or decline of market capitalization despite a rise in realized cap. This indicates that although capital is entering the market, prices are not reacting. #Bitcoin bull cycle is over — here’s why. There’s a concept in on-chain data called Realized Cap. It works like this: when BTC enters a blockchain wallet, it's considered a "buy," and when it leaves, it's treated as a "sell." Using this idea, we can estimate an average cost… pic.twitter.com/xDHRin8N1K Ju notes that a bull market happens when modest capital drives up prices. However, the current bearish trend is supported by the fact that even large capital purchases aren’t driving up the price of Bitcoin. He adds that historical data shows that a true reversal in the price of Bitcoin typically takes at least six months, making a short-term rally unlikely. According to Coinglass data , Bitcoin had its worst Q1 Start since 2018, dropping 11.8%. Losses in the first quarter have historically had a mixed effect on Bitcoin’s yearly performance. COVID fears caused a 9.4% drop in 2020, but Bitcoin ended the year up more than 300%. However, Q1 losses in 2014, 2018, and 2022 signaled the end of bull runs and preceded bear markets. The recent decline comes after President Trump imposed new tariffs that have triggered market volatility worldwide. Although Bitcoin saw increases following Trump’s election, its status as a U.S. economic hedge is now in question due to these new tariffs, which have raised fears about a recession. Bitcoin’s resilience in the face of economic uncertainty will be tested in the months ahead.

Cryptocurrency prices dropped sharply in Asian trading early Monday, April 7th, signaling renewed risk caution across global markets as U.S. tariff concerns resurfaced. Bitcoin and Ether led the decline during overnight trading. The downturn reflects investor reactions to rising geopolitical and macroeconomic pressures, including President Trump reaffirming commitment to extensive tariffs over the weekend. U.S. equity futures also declined ahead of the market open. Because crypto markets operate 24/7, they often react first to shifting global sentiment, as explained by Charlie Sherry, Head of Finance at BTC Markets. Bitcoin fell approximately 7% from late Sunday levels to an early Monday low near $76,900 . Ether dropped to touch $1,540 , its lowest intraday point since October 2023. Both assets pared some losses afterward but remained under pressure. Related: Three Reasons Why Crypto Market Might Recover Strongly in Q2 2025 Derivative markets reflected the sharp negative shift. Nearly $758 million in bullish crypto positions were liquidated over the last 24 hours, the highest amount in roughly six weeks, according to Coinglass data . This indicates significant pain for leveraged long traders. In the options market, activity leaned heavily toward puts (downside protection). Bloomberg reported high open interest for Bitcoin put options at the $70,000 strike price on Deribit . FalconX’s Head of APAC Derivatives, Sean McNulty, confirmed the skew for puts increased “considerably,” signaling heightened demand for hedging against further declines. Despite hopes for decoupling, the price action confirms crypto’s strong correlation with traditional risk assets like the Nasdaq 100 remains intact. Julia Zhou, COO of Caladan, noted digital assets continue to function as leading indicators for broader risk asset movements. Related: Trump Tariffs Shock Markets: Crypto Loses $100B, Bitcoin Price Unstable Following the drop, crucial support levels come into focus. FalconX’s McNulty warned that support at $75,000 for Bitcoin and $1,500 for Ether could be tested again if bearish sentiment persists. Holding these levels will be critical for preventing deeper declines as the trading week begins. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Elon Musk wants to monitor IRS data by creating a mega API, according to a report by Wired. To create the API, the Department of Government Efficiency or DOGE will organize a hackathon in Washington, DC, by next week. DOGE will work along with IRS leaders to organize a hackathon, and engineers will have two main tasks: dismantle the current IRS systems and build a new mega API that will control and oversee the IRS data. This means every taxpayer’s name, social security number, tax return, and other sensitive data will be accessed and manipulated by this mega API. The DOGE hackathon will be organized by Sam Corcos and Gavin Kliger, two of the IRS’ most skilled DOGE operatives. Corcos is a tech entrepreneur and CEO of Levels, a healthcare and tech company. He is also an adviser to Scott Bessent and “has been embedded at the Treasury Department,” according to a career federal employee. The Rolling Stone reported that Corcos has multiple ties to Elon Musk’s company, SpaceX. Kliger doesn’t have any experience working for the government. Before he started working at DOGE, he attended UC Berkeley until 2022. Then, he worked at the AI company Databricks. According to the New York Times, Kliger confronted security officials from USAID, accessed sensitive Internal Revenue Service (IRS) data, and joined in taking down parts of the CFPB website. Corcos talked about DOGE’s plans to have “one new API to rule them all.” This API will make it easy to access IRS data for cloud platforms. Application programming interfaces (APIs) let applications talk to each other and exchange data. In this case, an API will help in moving the IRS data to the cloud and this cloud platform will be a central point for reading all IRS systems. This means that anyone with access has the ability to view and use IRS data. According to an IRS engineering source, DOGE and IRS leaders will organize the hackathon, and engineers will start dismantling the old IRS systems and create a new API within the next 30 days. Once the new API is ready, Crocos said they will deploy it to the IRS’s mainframes and then apply it to every other internal system. Such a system will have access to all IRS data, including names, social security numbers, tax returns, and even employment data. Some sources told Wired that DOGE representatives spoke about the software company Palantir many times, making it a potential partner that will assist in handling the IRS data. Palantir was founded by Peter Thiel, a billionaire and one of Musk’s associates. At the moment, the IRS operates various systems hosted in on-site data centers and on the cloud, and these systems are separate and designed to function independently. Such systems has permission-based access and workers will only see data essential to their role. In a recent FOX News interview, Corcos said that, “The IRS has some pretty legacy infrastructure. It’s actually very similar to what banks have been using. It’s old mainframes running COBOL and Assembly and the challenge has been, how do we migrate that to a modern system?” Crocos stated that he was brought in to oversee the IRS’s modernization program, which is 30 years behind schedule and over budget by $15 billion. He is expected to continue his role at the IRS for six months. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More

Aptos has shown consistent growth, closing March with a total value locked (TVL) of $1.03 billion, after first crossing the $1 billion mark in November. According to Messari’s latest report, the figure reflects a strong climb from its earlier TVL range of $300-500 million seen between late March and mid-September 2024. Compared to the previous year, Aptos’ TVL rose by 109% in USD terms and a whopping 562% in APT terms. This increase occurred despite a 47% drop in the APT token price over the year. The stablecoin market cap on the Layer 1 network reached a milestone on March 24 when it surpassed $1 billion for the first time, which marked an over 10x increase compared to the same time last year and triple the value from December. This rapid growth has been fueled by major inflows into Tether’s USDT and Circle’s USDC after the launch of their native contracts on October 28 and January 31, respectively. While USDT saw its market cap soar over 8x to $680 million, USDC increased by 131% after climbing from $128 million to $295 million. Aptos Labs has launched two major technologies – Zaptos and Shardines – to improve performance. These solutions aim to lower latency and increase throughput as Aptos works toward becoming a global transaction hub capable of processing 1 million transactions per second (TPS). Zaptos is designed to improve Aptos’ pipelined architecture, where multiple block stages run in parallel for better efficiency. By optimizing this system, it sharply cuts end-to-end latency, thereby boosting overall performance and helping Aptos achieve faster, more scalable blockchain operations. Shardines, on the other hand, brings a horizontally scaled execution engine by splitting transactions into smaller parts and distributing them across multiple nodes for parallel processing. This sysytem enables the network to manage more transactions at once, and significantly increase transaction speed and overall network efficiency. Aptos is currently positioned as the 11th largest total value locked among blockchains, according to data compiled by DefiLlama. Bitwise filed to introduce a spot Aptos ETF in the United States last month. Although the network operates on a proof-of-stake model, the filing notably excluded any staking component. Additionally, Coinbase Custody is designated as the ETF’s proposed custodian in the application. The asset manager had launched an Aptos Staking ETP on Switzerland’s SIX Swiss Exchange last November, following which a Spanish bank then allocated 2% of its holdings to it.

Bitcoin’s ( $BTC ) resilience is becoming hard to ignore. Despite a $90 billion pullback, Bitcoin’s decline has been shallow compared to the broader market, highlighting its emerging role as a macro hedge. Since February 19th, U.S. equities have erased over $11 trillion in market cap, with much of that loss occurring after the so-called ‘Liberation Day.’ In stark contrast, Bitcoin has only retraced around 5.17% from its peak $1.74 trillion valuation. This growing divergence signals a key structural shift: Bitcoin is decoupling from traditional risk assets. Long-term holders (LTHs) are stepping in aggressively, accumulating Bitcoin at an average price of $84k even as short-term holders lock in losses. Net Position Change metrics show accumulation momentum accelerating, reinforcing the idea that $BTC is being increasingly viewed as a strategic asset. Moreover, the global macro landscape is providing additional tailwinds. Germany’s move to pull back $124 billion worth of gold reserves from New York suggests shifting attitudes toward traditional safe havens. If gold’s reliability continues to erode, Bitcoin stands ready to absorb that demand. In the near term, Bitcoin faces resistance between $85k-$87k — a zone critical to unlocking the next wave of FOMO-driven buying. Whale cohorts have already begun building a strong bid wall, making a breakdown to $77k less likely. With capital rotating out of equities and safe havens losing appeal, Bitcoin is perfectly positioned to move toward six-figure territory. A decisive break above $87k could set the stage for $100k sooner than most expect.