Bitcoin (BTC) fell below $75,000 on April 6, but later recovered to reclaim the $78,000 level.
Bitcoin's high correlation with traditional markets tends to be short-lived, and many indicators suggest traders are waiting for better entry opportunities.
Gold, often regarded as a reliable 'store of value', dropped in 2022 and took three years to recover its previous all-time high.
Bitcoin's near-zero futures funding rate, relatively modest futures liquidations, and stablecoin premium in China suggest a strong likelihood that Bitcoin's price has found a bottom at $75,000.