Bitcoin Dips Below $67K, Ethereum Follows as Market Sell-Off Intensifies
On Friday, April 3, BTC slipped to $66,892, down 1.8% on the day and 2.8% over the week. ETH mirrored the move, trading at $2,057, with a daily loss of 1.8% and a weekly decline of 2.8%. Crypto markets are facing a fresh wave of selling pressure, amplified by cascading liquidations on leveraged positions. Altcoins are also feeling the heat, with widespread losses across the board. This downturn comes amid a climate of heightened caution. Disappointing U.S. economic data, particularly on employment, has rattled investors and fueled recession fears. Meanwhile, European regulators have reiterated calls for tighter oversight of exchanges, dampening trader sentiment. Capital inflows into crypto index funds have also slowed, signaling a cooling of institutional demand. For investors, this correction could present an opportunity to accumulate at more attractive price levels. However, caution remains warranted as volatility could ramp up in the coming days. BTC is now testing support at $66,000; a break below could open the door to $63,000. ETH, on the other hand, may find a floor around $2,000. Short-term outlooks remain uncertain, but the long-term fundamentals of cryptocurrencies stay intact.
