Bitcoin Drops Below $67K, Ethereum Follows as Selling Pressure Mounts
On Friday, April 3, Bitcoin fell to $66,892, down 1.8% on the day and 2.8% on the week. Ethereum followed suit at $2,057, with a daily drop of 1.8% and a weekly decline of 2.8%. Crypto markets are experiencing a fresh wave of selling, amplified by cascading liquidations on leveraged positions. Altcoins are also feeling the heat, with widespread losses. This downturn comes amid heightened risk aversion. U.S. economic data, particularly employment figures, disappointed investors, fueling recession fears. Meanwhile, European regulators reiterated calls for tighter oversight of exchanges, cooling trader enthusiasm. Capital flows into crypto index funds have also slowed, signaling a waning of institutional demand. For investors, this correction could present an opportunity to build positions at more attractive prices. However, caution remains warranted, as volatility could intensify in the coming days. Bitcoin is now testing the $66,000 support level; a break below that could open the door to $63,000. Ethereum, for its part, may find support around $2,000. Short-term prospects remain uncertain, but the long-term fundamentals of cryptocurrencies remain solid.
