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Bitcoin’s price fell from $88,060 on April 26, 2021 to $82,036 on April 27, resulting in $158 million in liquidation from leveraged trades.

The decline, along with record gold prices, has raised concerns about Bitcoin’s “digital gold” narrative. However, many experts believe that a Bitcoin price rally is imminent as governments take action to avert an economic crisis.

The global trade war and the US government’s spending cuts are seen as temporary setbacks. More liquidity is expected to enter the markets, which could favor riskier assets.

Analysts believe that Bitcoin will benefit from this macroeconomic shift. Some expect “policy uncertainty” to ease by early April, reducing the likelihood of a recession. However, market volatility remains a factor.