Bitcoin Ends Losing Streak but Remains Far from All-Time High

Bitcoin's price has been holding steady after ending its five-month losing streak in March, but analysts are divided on whether this marks a turning point for the cryptocurrency.

The token remains about 45% below its all-time high of over $126,000 reached just before the October selloff, and some traders are betting it will again test levels around $60,000. However, others predict a breakout from 'crypto winter' as institutional adoption and regulatory clarity gain traction.

Rachael Lucas, an analyst at BTC Markets, noted that Bitcoin's price action has been influenced by geopolitical events, but added that markets have been conditioned to expect policy reversals. She said that for conviction among investors to build, the token would need to sustain prices above $70,000 to $72,000.

On the other hand, Ryan Rasmussen, head of research at Bitwise Asset Management, is more optimistic on the outlook. He believes that once geopolitical and macro headwinds clear, Bitcoin will push to new all-time highs driven by institutional adoption and regulatory clarity.