On March 12, LMAX Digital's Joel Kruger believed that the current weakness in the crypto market "is more caused by the sell-off effect and technical overdue adjustments after the news is cashed, rather than other factors." But of course, there are more factors at play. Uncertainty about the U.S. economic outlook has triggered risk aversion in the market. Despite this, Kruger still believes that Bitcoin is approaching a bottom and is expected to rebound in the second quarter. In the former resistance range between $69,000 and $74,000, Bitcoin "should have extremely strong support." Kruger has previously said that Bitcoin's "store of value" narrative may help it shed its "misleading" correlation with traditional risky assets.