Despite the recent decline in Bitcoin's price, Ben Armstrong, also known as BitBoy Crypto, remains steadfast in his belief that the cryptocurrency will reach $100,000 by the end of 2024. The recent drop in Bitcoin's value to $65,000 caused uncertainty among investors, leading to widespread selling in the market. However, Armstrong remains optimistic about Bitcoin's trajectory and reassured his followers that the digital currency is still on track to hit the coveted $100,000 mark this year.

In light of the market's unpredictability, Armstrong acknowledged the day's events and highlighted the inherent volatility of crypto trading. He emphasized Bitcoin's resilience in the face of market turbulence, stating that fluctuations are a natural part of the cryptocurrency landscape. Despite his initial expectations of a significant price movement, the market crash tempered Armstrong's outlook. Nevertheless, his unwavering confidence in Bitcoin's long-term potential aligns with sentiments expressed by other key figures in the crypto community.

Crypto analyst Michaël van de Poppe emphasized the ongoing bull cycle and identified the recent market downturn as an opportunity for investors to capitalize on discounted altcoins. Van de Poppe highlighted that many altcoins are currently trading at significant lows compared to Bitcoin, suggesting a potential altcoin rally fueled by Bitcoin's market dominance. Additionally, he pointed out that the bull run has not yet been fully factored into Bitcoin's price, attributing the recent rally to positive responses to newly launched Spot Bitcoin ETFs.

Looking ahead, the upcoming Halving event could serve as a catalyst for Bitcoin's price surge, further boosting investor optimism. Anticipation for a supply-driven rally, fueled by the diminishing supply of new Bitcoin, hints at the potential for the cryptocurrency to reach new heights. Despite the recent market fluctuations, Bitcoin's price rebounded above $67,000 after hitting a low of $65,000. As of Saturday, April 13, the BTC price stood at $67,400.43, with a market valuation of $1.32 trillion.

The surge in trading volume for Bitcoin, up by 61.97% to $48.06 million in the last 24 hours, was accompanied by significant long liquidations totaling $186.13 million. The majority of these liquidations, amounting to $136.40 million, were attributed to long positions, contributing to the recent market downturn.

Furthermore, Bitcoin's open interest decreased by 5.85% to $35.55 billion, indicating a withdrawal of positions by derivatives traders. The recent bearish turn in the market was also influenced by the BTC options expiry, adding to the overall market dynamics.