Bitcoin (BTC) rose to around $27,700 on April 23, up about 2.5% from the previous day's low, but still down 10% over the week, potentially setting a new bottom at $26,600. Analysts Mark Cullen and Crypto Tony both targeted the $26,500-27,000 range as possible support levels, with bids sitting at $26.5k. While there were increased spot market selling on largest exchange Binance, short-term bearish moves may not change the overall bullish trend for 2023, according to market participants like Michaël van de Poppe, founder and CEO of trading firm Eight. Popular trader CryptoBullet sounded more nervous, but acknowledged that a bearish weekly candle would not necessarily spell the end for the bull run.

(By WILLIAM SUBERG)