Will the 2-Year Realized Bitcoin Price Hold? Bitcoin Battles Tariff Turmoil

The world’s largest cryptocurrency, Bitcoin, is once again at a crucial turning point. Market turbulence, triggered by global tariff fears and aggressive long liquidations, has dragged BTC dangerously close to its 2-Year Realized Price—a key on-chain support zone that could define the asset’s next move.

Currently trading near $77,000, Bitcoin has retreated almost 30% from its all-time high. The latest price action follows escalating global trade tensions as U.S. President Donald Trump announces fresh tariffs, sparking a pullback in both equities and digital assets. In this macroeconomic fog, on-chain metrics are drawing attention to a historical support band.

Bitcoin Tests 2-Year Realized Price as Bulls Lose Steam

CryptoQuant contributor Onchained recently highlighted Bitcoin’s convergence with its 2-Year Realized Price, a metric representing the average cost basis of coins moved over the past two years. This level has historically marked robust accumulation zones and turning points between bull and bear markets.

If Bitcoin maintains this support, it would signal long-term holders are still confident, reinforcing the possibility of a renewed uptrend. “BTC has remained above this realized level since October 2023—a sign of persistent long-term conviction,” said Onchained. A bounce could ignite fresh demand, while a failure to hold may invite deeper correction or prolonged sideways action.

Long Liquidations Shake Market Amid Policy Concerns

Another stress point emerged on April 6, when CryptoQuant analyst Darkfost reported the largest long liquidation event of the current cycle. The market saw over 7,500 BTC in forced closures as leveraged traders were caught off guard by swift volatility swings.

“Rising tariff fears and uncertain U.S. fiscal direction triggered a wave of risk-off sentiment,” said Darkfost. “These massive liquidations highlight just how fragile high-leverage positions can be during global financial shocks.”

This liquidation mirrors prior bull cycle patterns, where overexposure in the futures market often leads to sharp corrections. As macro volatility spikes, traders are urged to adopt caution and risk management strategies.

Key Levels and What Comes Next for Bitcoin

Despite short-term bearish pressures, Bitcoin’s ability to hold its 2-Year Realized Price could reset the market’s tone. Institutional inflows have slowed, and U.S. regulatory rhetoric remains a looming influence on digital assets. However, on-chain data still shows resilient wallet activity and low selling pressure from long-term holders.

If Bitcoin can stabilize above this key metric, analysts suggest it may act as a springboard for a more sustained rebound, especially with halving expectations and ETF inflows setting up a bullish narrative later in the year. Conversely, a break below could trigger a retest of the $68K–$70K range before renewed accumulation begins.

Conclusion

Bitcoin is walking a tightrope as tariff-fueled volatility and long liquidations create market tension. The 2-Year Realized Price stands as a historic support level, and its defense could mark a pivotal inflection point. Whether BTC rebounds or slips into a deeper correction may ultimately hinge on macroeconomic stability and investor conviction in the coming weeks.