📈 Market update

How low can Bitcoin go?

Bitcoin has been officially in bear market territory for a while. The uptrend has lost steam, sentiment is turning sour, and support levels are being tested harder than ever.

There’s still a case for a recovery later this year — global liquidity is quietly rising, and central banks in some regions are starting to loosen their grip. But let’s be real: that bullish scenario is starting to slip.

The macro landscape isn’t doing Bitcoin any favors. The latest round of US tariffs has rattled markets, pushing global trade tensions higher. Inflation remains sticky, growth is slowing, and policymakers are walking a tightrope. Risk appetite is fading fast and Bitcoin, being a high-risk asset, is feeling the pressure.

If macro conditions don’t stabilize soon, we could see a deeper retrace. A fall to $50K is very much on the table. That level would represent a major psychological support — and for many, a line in the sand.

Is this the bottom, or just another stop on the way down?

Time will tell, but for now, the shorts keep printing.

👀 Projects we’re keeping an eye on

Ambient — Website | X

“PoW L1 supplying hyperscaled verified inference on a 600B+ parameter model and its finetunes. Backed by @a16z CSX @delphi_ventures @ambergroup_io“

Ambient has all the signs of a project that could be very successful.

Pre-token | Possible airdrop

Codex — Website | X

“One integration for money movement on stablecoins.” — They’re building a blockchain for stablecoin transactions.

We’re not sure they’ll have a token, but a really interesting business to keep an eye on.

More info: thread from founder, $16M investment

QuoteChain — Website | X

“Your social contributions, evaluated by AI, recognized on x. Be our reply guy by tweeting whatever, get quoted”

Token launch on April 10th - connect with your X account in order to participate

📰 What are the latest?

Bitcoin and Stocks Pump, Then Dump on False Report of 90-Day Tariffs Pause — Tariff chaos continues.

Saylor's Strategy discloses nearly $6 billion in Q1 unrealized losses as selloff halts bitcoin buying spree

BCG Project $18.9T Tokenized Asset Market by 2033 — The crypto industry is poised to grow and grow!

Dogecoin Is Down Bad, But Fartcoin Rises Above Markets Chaos — When markets crash memecoins are the first to suffer.

🧃 In other news

• BlackRock has been approved as a crypto firm in the UK - HUGE news!

• Stories of losses are everywhere - One DeFi whale just got wrecked for $74M after defaulting on a massive loan.

• Tornado Cash users score ‘incredible win’ for crypto privacy in US court

• CZ has too much time on his hands - He’s now the “strategic crypto advisor” for Pakistan.

SubQuery - 60M $SQT Rewards Campaign

SubQuery is central to Web3 development, offering data indexers, RPC, and open-source AI models. It provides fast, scalable infrastructure and serves applications across 290+ chains, allowing developers to access customizable indexing for specific smart contracts and events.

SubQuery launched a 60M $SQT rewards program, enabling developers to earn rewards for their query spend. $SQT, the network's native token, is used to build applications and pay for services. $SQT Node Operators provide data indexing, RPC, and AI services in exchange for $SQT, while delegators can support Node Operators and share rewards.

This initiative could renew interest in SubQuery and its token, which has lost over 90% of its value in the past year, affecting investor confidence and community enthusiasm.

The new rewards project could boost attention and engagement by incentivizing participation and increasing token demand, potentially shifting market sentiment. While a full turnaround is uncertain, it will be interesting to see if this strategy impacts user activity and price movement.

This could signal a broader recovery for SubQuery or just a short-term boost in a downtrend. Either way, it's worth watching.

🙏 Thank you for reading

That's all we have for this week, but rest assured, we will return next Tuesday with more updates and insights.

In the meantime, stay positive and stay in the market!

— Bruno