Here is a concise summary of the most relevant Bitcoin news from last week, based on the search results, that may have influenced the recent price fluctuations:

1. Bitcoin falls 8%, drops below $62,000 before rebounding [1]:
   • Bitcoin experienced a significant 8% drop and briefly fell below the $62,000 level before rebounding.
   • This pullback could be attributed to profit-taking by traders who had accumulated Bitcoin at lower levels, leading to a temporary sell-off.
2. Bloomberg's report on crypto liquidations [2]:
   • Bitcoin's brief drop triggered a cascade of liquidations of speculative positions, leading to a massive sell-off of smaller digital assets like Solana, Cardano, and Polkadot.
   • This liquidation spiral and market panic contributed to the downward pressure on Bitcoin's price.
3. Ethena's controversial method for maintaining USDe's peg [1]:
   • Ethena, an Ethereum project behind the synthetic dollar USDe, has attracted over $2 billion in deposits.
   • However, concerns arise due to Ethena's controversial method for maintaining USDe's one-dollar peg, which has not been tested under adverse market conditions.
   • The uncertainty surrounding USDe's stability may have led to a cautious sentiment among investors, potentially impacting Bitcoin's price.

Technical Analysis of Bitcoin (BTC-USD) over the last 48 hours (1-hour intervals)Technical Analysis of Bitcoin (BTC-USD) over the last 48 hours (1-hour intervals)

Key Price LevelsKey Price Levels

Major ResistanceMajor Resistance

• $70,940.36 (High reached on 04/12/2024 at 12:00)

Secondary ResistanceSecondary Resistance

• $70,922.37 (High on 04/12/2024 at 11:00)

Major SupportMajor Support

• $61,896.35 (Low reached on 04/13/2024 at 21:00)

Secondary SupportSecondary Support

• $62,973.95 (Intraday level on 04/13/2024 at 22:00)

Technical IndicatorsTechnical Indicators

• RSI (41.33): Neutral trend
• MACD (-864.82) negative and histogram (150.81) positive: Possible bullish reversal

ObservationsObservations

Bitcoin traded in a wide range between $70,940 and $61,896 over the last 48 hours.

Range ConfigurationRange Configuration

• Resistance: $70,940
• Support: $61,896

A clear breakout could provide a new directional impulse:

• Surpassing $70,940: Potential buy signal
• Breaking below $61,896: Potential sell signal

OutlookOutlook

• A return toward $70,940 could represent a short-selling opportunity targeting $61,896.
• Conversely, a rebound above $61,896 could trigger buybacks aiming for $70,940.

In summary, after a sustained rally over the past year, Bitcoin is currently in a short-term range configuration between $70,940 and $61,896. The direction of the next trend will depend on the ability of prices to break or hold these recently established key technical levels.