The cryptocurrency market declined on Friday as Bitcoin and Ethereum fell, pulling most major assets lower. Bitcoin dropped over 4% to around $68,084, failing to hold the $70,000 resistance level. Ethereum lost over 4%, slipping below the $2,000 psychological threshold. Broader market sentiment turned cautious, with indicators suggesting a consolidation phase following February’s correction.
The cryptocurrency market turned lower on Friday as declines in Bitcoin and Ethereum dragged the broader sector into the red. According to data from CoinMarketCap, Bitcoin traded around $68,084 after falling 4.03% in the past 24 hours.
Ethereum dropped 4.48% to $1,983 during the same period. The declines weighed on the wider market, with most major cryptocurrencies posting losses.
Among other large-cap assets, BNB fell 2.98%, XRP declined 3.63%, and Solana slipped 4.08%. This highlighted the broad nature of the market downturn.
Technical indicators suggest Bitcoin’s latest pullback follows a failed attempt to reclaim the $70,000 resistance level. The daily chart shows BTC testing the $70K area during the recent rebound before facing rejection.
Following February’s sharp correction, BTC has been trading largely within the $65K–$70K range. This indicates a consolidation phase rather than a full recovery.
Bitcoin’s Relative Strength Index [RSI] sits near 46, below the neutral 50 level. This suggests that buying momentum remains limited despite the earlier rebound from oversold conditions.
Ethereum mirrored Bitcoin’s weakness, sliding below the $2,000 psychological threshold. ETH traded around $1,984 after falling 4.27% over the past 24 hours, according to TradingView data.
The chart shows Ethereum failing multiple attempts to reclaim the $2K level in recent sessions. This signals that the area has become a key resistance point.
Ethereum’s RSI currently sits near 44, slightly weaker than Bitcoin’s momentum reading. The indicator remains below the neutral midpoint, reflecting ongoing caution among traders.
Because Bitcoin and Ethereum account for the majority of the total crypto market capitalization, their movements often set the tone. The latest decline triggered losses across several top cryptocurrencies, reinforcing a market-wide trend.
For now, traders are closely watching whether Bitcoin can defend the mid-$60K support zone. They are also monitoring if Ethereum can regain the $2K level to restore bullish momentum.
