Bitcoin gave up ground this Thursday, April 9, falling to $71,117, down 1.2% from Wednesday. Ethereum follows the trend at $2,190, down 2.3%. Over the week, BTC remains up 4.4%, while ETH advances 3.8%. This correction was expected after yesterday’s jump, with investors preferring to take profits.
The macroeconomic context is mixed. US equity markets opened lower this morning, penalized by disappointing earnings in the technology sector. Additionally, US 10-year yields rose slightly, strengthening the dollar and weighing on risk assets. In this climate, Bitcoin experienced moderate selling, but without panic. Outflows from Bitcoin ETFs are limited, suggesting long-term investors remain confident.
This Thursday is a stress test for the market. If Bitcoin can hold above $71,000, the uptrend remains intact. Conversely, a close below $70,500 could signal exhaustion. Ethereum, more volatile, has lost the $2,200 threshold, an important psychological level. Trading volumes are down from Wednesday, indicating a lack of bearish conviction. Analysts believe this correction is healthy and could set the stage for a new rally by the end of the week.
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