Bitcoin loses the momentum again 📉Ethereum slides 5%

Bitcoin is declining today, with the price retreating from around $71,000 to about $68,000. The drop has weakened hopes for a more sustained rebound, as the recent rally stalled near $74,000–$75,000, a level considered important from the perspective of dealer positioning.

Ethereum has fallen even more sharply, with the second-largest cryptocurrency by market capitalization dropping more than 5% and slipping below $2,000.
The stronger U.S. dollar, rising U.S. Treasury yields, and sharp gains in oil prices are limiting interest in digital assets. Despite a temporary increase in demand through crypto ETFs, cryptocurrencies have struggled to maintain upward momentum amid weak spot demand and still significant supply pressure.

Bitcoin (H1 interval)

Bitcoin encountered strong resistance near $75,000, where the 38.2% Fibonacci retracement of the recent upward impulse is located and where options dealer positioning also suggests a resistance zone.

At the moment, BTC has dropped below the 200-period EMA on the hourly chart for the first time since the turn of February and March, signaling a potential return of downward momentum.
If bulls fail to quickly reclaim the $70,000 level, the market could face another bearish impulse, with potential support near $60,000.

Source: xStation5

Ethereum has erased several days of gains and fallen back below $2,000, in a way reinforcing the prevailing downtrend in the market.

Source: xStation5

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