Bitcoin Slides Further, ETH Shows Relative Strength
On Monday, March 23, Bitcoin continued its downward trajectory, falling to $67,849 — a 1.3% loss on the day. The weekly decline deepened to 6.6%, a level that is raising concerns among investors. ETH, trading at $2,053, posted a more modest drop, displaying relative resilience. Trading was subdued to start the week, with the trend remaining bearish and no immediate signs of a rebound. The macroeconomic backdrop remains a heavy weight. European and Asian equity markets were down, fueled by worries over global growth. Bitcoin, sensitive to these fluctuations, saw selling pressure from traders looking to cut losses. Meanwhile, inflows into spot Bitcoin ETFs slowed, signaling waning institutional demand. This lack of support is weakening the price action. The day marked a key psychological test. The $68,000 level, now breached to the downside, could open the door to a further decline toward $65,000 if selling pressure persists. Retail investors, typically more active early in the week, adopted a wait-and-see approach. ETH, while less affected, remains vulnerable. The week ahead will be decisive in determining whether this move is a temporary correction or the start of a deeper trend.
