Right as some analysts thought that Bitcoin (BTC) was on the cusp of confirming a new bull market, the cryptocurrency market took a downturn amid regulatory uncertainty and signs of weakening macroeconomic conditions.
Bitcoin price hit a 7-day low on April 19 at $29,158 after failing to maintain the key $30,000 level. Moreover, some traders are worried that a further correction could revisit the bear market lows.