Bitcoin Price Falls Amid Easter Break as Oil Hits Four-Decade High

The Bitcoin market is showing signs of weakness as it approaches the Easter break. According to CryptoQuant analytics, net demand has dropped to around -63,000 BTC despite record ETF and corporate buying reaching multi-month peaks.

Large-scale wallet activity, particularly among addresses containing between 1,000 and 10,000 BTC, has shifted towards net selling behavior. This group's annual balance shift declined by approximately 188,000 BTC from highs.

The ISM prices-paid metric surged to 78.3 in March, reaching its highest point since June 2022. Elevated readings diminish the likelihood of imminent rate reductions, pressuring Bitcoin's macro-supported price foundation.