Analyst: BTC is approaching the bottom and is expected to rebound in the second quarter.

BlockBeats news, on March 12, Joel Kruger of LMAX Digital believes that the current weakness in the crypto market is 'more of a dumping effect after news realization and technical overhang adjustments, rather than other factors. ' However, of course, there are more factors at play. Due to the uncertainty of the U.S. economic outlook, it has triggered a risk-off sentiment in the market. Nevertheless, Kruger still believes that BTC is approaching a bottom and is expected to see a Rebound in the second quarter. In the previous resistance zone between $69,000 and $74,000, BTC 'should receive very strong support.' Kruger has previously stated that BTC's 'store of value' narrative may help it break free from the 'misleading' correlation with traditional risk assets. (Blockworks)