Bitcoin Price Drop: Is $75K a Bottom?

Bitcoin (BTC) plunged below $75,000 on April 6th, impacted by broader market sell-offs as the S&P 500 futures marked their lowest levels since January 2024. This initial shock also caused WTI oil futures to drop below $60 for the first time in four years. However, markets recovered, allowing Bitcoin to regain its position above $78,000. Despite some analysts labeling this as a bear market following a 30% price correction from its peak, historical data reveals an intriguing trend: short-lived correlations with traditional markets are the norm for Bitcoin.