Bitcoin made an attempt to retest the $68,000 support mark on April 1, coinciding with Wall Street's opening and showing signs of weakness in BTC bids. Market data from Cointelegraph Markets Pro and TradingView revealed a shaky start to Q2, with Bitcoin price falling over 4.5%.

Despite a lack of outflows from the Grayscale Bitcoin Trust (GBTC) and the return of institutional flows, BTC price struggled to move further upwards. Trader Daan Crypto Trades speculated that the Easter holiday period might have influenced the market dynamics.

GBTC outflows have shown a decreasing trend, with $104 million leaving on the final trading day of Q1, a stark contrast to the $642 million outflow seen on March 18. Bitcoin price hit its lowest levels since March 25, with the 200-period moving average on 4-hour charts potentially posing a threat below $67,330.

Traders are cautious as BTC/USD awaits further price movements. Another trader, Skew, emphasized the importance of staying on the defensive until Bitcoin is back above $70,000. QCP Capital warned of growing downward pressure in the crypto spot markets.

Analyzing exchange order book liquidity on Binance, Material Indicators spotted increased bid liquidity around $60,000 and mentioned that "Smart Money" had placed bids all the way down to $62,000. The uncertainty of Bitcoin's price in relatively uncharted territory might be making institutional buyers cautious, but expectations of new all-time highs post-halving remain high.

Investors are advised to conduct their research before making decisions, as every investment carries inherent risks.