The cryptocurrency market fell on Friday after declines in Bitcoin and Ethereum pulled the broader sector into the red, with both assets struggling to hold key psychological levels.
According to data from CoinMarketCap, Bitcoin was trading around $68,084 at the moment of pressing after a fall 4.03% in the last 24 hourswhile Ethereum fell 4.48% to $1,983.
The declines weighed on the broader market, with most major cryptocurrencies posting losses over the same period.
Among other large capitalization assets, BNB fell 2.98%, XRP fell 3.63% and Solana fell 4.08%underscoring the broad nature of the market decline.
Bitcoin fails to regain the $70,000 resistance
Technical indicators suggest that Bitcoin’s latest pullback follows a failed attempt to regain Bitcoin $70,000 resistance level.
The daily chart shows BTC testing the $70K area during the recent upswing before facing rejection. This level has emerged as a key short-term resistance following Bitcoin’s sharp correction in February.
Source: TradingView
After that drop, BTC traded largely within the $65,000 – $70,000 This indicates a consolidation phase rather than a full recovery.
Momentum indicators also reflect cautious sentiment. Bitcoin’s relative strength index [RSI] is located near 46below the neutral 50 level, indicating that buying momentum remains limited despite the earlier recovery from oversold conditions.
As selling pressure increases, analysts can look to the future $65K region as the next support zone.
Ethereum is struggling to hold the psychological level of $2K
Ethereum mirrored Bitcoin’s weakness and slid below the Psychological threshold of $2,000 amid increased bearish market pressure.
ETH traded around $1,984 at the time of writing after a fall 4.27% over the past 24 hoursaccording to TradingView data.
Source: TradingView
The chart shows that Ethereum has failed multiple attempts to regain the $2K level in recent sessions, indicating that the area has become a key resistance point.
Ethereums RSI is currently near 44slightly weaker than Bitcoin’s momentum value. The indicator remains below the neutral midpoint, reflecting continued caution among traders.
After February’s sharp decline, Ethereum is moving within a relatively narrow range in between $1,800 and $2,100indicating that the market is still looking for direction.
The broader crypto market follows BTC and ETH lower
Because Bitcoin and Ethereum account for most of the total crypto market capTheir moves often set the tone for the broader market.
The latest decline caused losses across several top cryptocurrencies, reinforcing the idea that the current pullback is a market-wide trend and not an isolated movement.
While the broader market attempted to stabilize earlier this month following the February sell-off, the latest price action suggests momentum remains fragile, especially as key resistance levels persist.
For now, traders are keeping a close eye on whether Bitcoin can defend the mid-$60,000 support zone and whether Ethereum can regain the $2,000 level to restore bullish momentum.
Final summary
- Bitcoin’s rejection to near $70,000 and Ethereum’s decline below $2,000 have amplified bearish pressure on the broader crypto market.
- Momentum indicators suggest that the market is still in a consolidation phase after February’s sharp correction.