Bitcoin Loses $28,000 Handle – Is A Retreat In The Offing For BTC?

Bitcoin (BTC), the world's largest cryptocurrency by market capitalization, was dealt a blow earlier today as it slipped below the $28,000 handle. The decline has sparked concerns among investors and analysts that the digital asset may be headed for a correction, leaving them to wonder whether it's time to sell or hold on to their investments.

Timeline of Bitcoin

United States lawmaker Senator Elizabeth Warren conceded that banks “have done a really bad job” while advocating for central bank digital currencies (CBDCs) because the government backs them.

Bitcoin Ordinals have hit a new all-time high, with the number of inscriptions on the BTC network reaching 58,179 on April 2, according to data from Dune Analytics. This figure represents an 83.5% increase from the previous all-time high of 31,692 recorded on March 9.

A closely followed crypto strategist known for making long-term assessments on Bitcoin (BTC) believes that the king crypto has entered bull territory. Pseudonymous analyst Rekt tells his 341,800 Twitter followers that Bitcoin has concluded its 16-month long bear market after ending March on a high note.

A lengthy academic paper about Bitcoin (CRYPTO: BTC), authored by a U.S. Space Force major, has become a bestseller on Amazon.  What Happened: Written by Jason Lowery, the paper was the result of research conducted during a six-month fellowship at MIT, sponsored by the Department of Defense.

Last month, Bitcoin and the broader crypto market showed strong resilience against the banking crisis and continued their upward journey. Bitcoin ended Q1 2023 with almost 70% price gains.

Over a decade ago, the concept of zero-knowledge proofs (ZKPs) was first introduced for the world of Bitcoin, piquing the interest of even Satoshi Nakamoto. These cryptographic proofs have long been considered a potential game changer for the blockchain, allowing users to prove the validity of a statement without revealing any additional information.

Major coins traded in the red on Sunday evening, as investors considered the potential consequences of major events in March such as bank failure, inflation and cryptocurrency-related regulatory actions.  Cryptocurrency Gains (+/-) Price (Recorded 9:30 p.m.

ALSO: Sam Reynolds writes that decentralized-focused tokens, including LDO and DYDX, were the quarter's best performers. Their gains came as U.S. regulators ratcheted up their scrutiny of centralized exchanges.

In a Substack post, penned in December 2022, “pharma bro” Martin Shkreli made an extraordinary claim that Paul Le Roux, a former programmer and criminal cartel leader, was Satoshi Nakamoto, the pseudonymous creator of Bitcoin (CRYPTO: BTC).  What Happened: Shkreli said he managed to decrypt the first transfer ever sent to the late Bitcoin pioneer, Hal Finney.

Swiss non-profit ZeroSync Association and Bitcoin infrastructure firm Blockstream are partnering to broadcast Bitcoin zero-knowledge proofs from Blockstream's satellite, enabling faster syncing and global access.