Ben Armstrong, also known as BitBoy Crypto, expressed unwavering optimism despite Bitcoin's recent price drop to $65,000, causing concern among investors amidst a widespread market sell-off. Armstrong reassured his followers that Bitcoin remains on track to hit the coveted $100,000 milestone this year, emphasizing the resilience of the cryptocurrency in the face of market volatility.

In light of the day's unexpected events, Armstrong acknowledged the unpredictable nature of the market, stating that fluctuations like these are inherent to crypto trading's volatile environment. He maintained his confidence in Bitcoin's long-term potential, aligning with the sentiments of other influential figures in the crypto community who share a positive outlook on the digital asset's trajectory.

Crypto analyst Michaël van de Poppe highlighted the current bull cycle and identified the recent market downturn as an opportunity for investors to leverage discounted altcoins. Van de Poppe emphasized that many altcoins are trading at significant lows compared to Bitcoin, suggesting a potential broader altcoin rally driven by Bitcoin's market dominance.

Van de Poppe's analysis supports the belief that Bitcoin's market dominance will pave the way for an altcoin rally, with the ongoing bull run yet to be fully reflected in Bitcoin's price. The positive response to newly launched Spot Bitcoin ETFs has contributed to Bitcoin's recent price surge, with the upcoming Halving event anticipated to further boost investor optimism by potentially triggering a supply-driven rally.

Following the market turbulence, Bitcoin's price rebounded above $67,000 after dropping to $65,000 earlier in the day. As of Saturday, April 13, the BTC price stood at $67,400.43, marking a 4.67% decrease. Despite the setback, Bitcoin's market valuation remained strong at $1.32 trillion, with trading volume surging by 61.97% to $48.06 million in the last 24 hours.

The significant drop in BTC's value was driven by massive long liquidations totaling $186.13 million, with $136.40 million attributed to long positions. This triggered a chain reaction leading to the recent market crash. Additionally, Bitcoin's open interest decreased by 5.85% to $35.55 billion, indicating a pullback by derivatives traders, while the BTC options expiry further contributed to the recent bearish sentiment in the market.