Bitcoin (CRYPTO:BTC) struggled to build on its record monthly close, with the price support level around $60,000 gaining significance.

As Wall Street opened on April 1, Bitcoin made an effort to revisit the $68,000 support mark but faced challenges, leading to a decline exceeding 4.5%.

This downturn marked a shaky commencement to the second quarter, as monitored by Cointelegraph Markets Pro and TradingView data.

Despite the re-engagement of institutional investments, Bitcoin’s price did not see the anticipated increase.

Interestingly, this occurred without any notable withdrawals from the Grayscale Bitcoin Trust (GBTC), suggesting that institutional interest alone was insufficient to propel the cryptocurrency’s value upwards.