On March 12, LMAX Digital's Joel Kruger believes that the current weakness in the crypto market is "more caused by the sell-off effect after the news is fulfilled and the technical overdue adjustment, rather than other factors." But of course, there are more factors at work. Due to the uncertainty of the US economic outlook, the market has triggered risk aversion. Despite this, Kruger still believes that Bitcoin is approaching bottoming out and is expected to rebound in the second quarter. And in the former resistance range between $69,000 and $74,000, Bitcoin "should be extremely supportive." Kruger had earlier stated that Bitcoin’s “store of value” narrative may help it get rid of the “misleading” correlation with traditional risky assets.