Bitcoin Holds Crucial $40,000 Level Over Easter Before Sell-off at Weekly Close

Bitcoin held on above $40,000 over the holiday period before plummeting to $38,700. Meanwhile, the Paris Blockchain Week Summit returned for the first time since 2020. Let's take a look at what happened Last Week in Crypto: ➤ A Macro Low Incoming for BTC? ➤ The XFUN Wallet ➤ The Merge Gets Delayed Again ➤ Crypto News Weekly Roundup Bitcoin Holds Crucial $40,000 Level Over Easter Before Sell-off at Weekly Close BTC | BITCOIN $39287.40 -3.49% ⬇️ The Easter holiday period started with the BTC/USD pair trading in an increasingly narrow range, peaking at $40,700 on Saturday. There was a certain lack of volatility stemming from a four-day holiday for the US equities market. While traders could've been forgiven for expecting no movement in BTC over the holiday period, low liquidity and thin order books put the biggest crypto by market cap at risk of a sudden movement downwards. And that's what happened; Bitcoin broke down to $38,850 as the week came to a close. Analysts also foresee short-term downside before long-term upside; at the moment, BTC is mimicking the period just before 2018's bear market crash. Historically, BTC has also dropped to a macro low 800 days after a halving - the last halving was 707 days ago.