Bitcoin (BTC) is facing a significant test of its bull market as Mt. Gox reimbursements trigger the largest liquidation cascade in years. The BTC price has dropped 5% on July 5 alone, with traders now watching key support levels. For trader Matthew Hyland, the $52,000 mark is crucial. This forms the floor of Bitcoin’s Supertrend Indicator, a price foundation in place since mid-March’s $73,800 all-time high. Despite the current drawdown, it's still modest compared to previous bull markets. Adam Back, founder and CEO of Blockstream, advises hodlers to increase exposure to Bitcoin and MicroStrategy's stock, the company with the largest BTC treasury.