The cryptocurrency market moved lower on Friday as both Bitcoin and Ethereum declined, pulling the broader market into negative territory. The drop comes after both assets struggled to break through key resistance levels, signaling that bullish momentum remains weak in the short term.

At the time of writing, Bitcoin was trading near $68,084, recording a 4.03% decline over the past 24 hours, according to CoinMarketCap. Meanwhile, Ethereum fell 4.48% to around $1,983, slipping below the important $2,000 psychological level that traders have been closely monitoring.

The weakness in the two largest cryptocurrencies quickly spread across the wider market. Several major assets also posted losses during the same period. BNB declined about 2.98%, XRP dropped 3.63%, and Solana fell roughly 4.08%. This broad decline highlights how heavily the market still depends on the direction of Bitcoin and Ethereum.

Bitcoin Struggles to Break $70K Resistance

Bitcoin’s latest pullback appears to be linked to its failure to reclaim the $70,000 level. Recent price action shows BTC testing that area during a rebound but facing strong rejection. The $70K mark has now become an important resistance level following the sharp correction the market experienced in February.

Since that correction, Bitcoin has mostly been trading between $65,000 and $70,000. This suggests the market is currently consolidating rather than entering a strong recovery phase.

Technical indicators also reflect cautious sentiment. Bitcoin’s Relative Strength Index (RSI) is around 46, which is below the neutral level of 50. This indicates that buying momentum remains limited despite the earlier bounce from oversold conditions. If selling pressure increases, analysts are watching the $65K zone as the next major support area.

Ethereum Faces Pressure Below $2,000

Ethereum has shown a similar pattern of weakness. The asset dropped below the $2,000 psychological level as selling pressure increased across the market.

ETH was trading around $1,984 at the time of reporting, marking a 4.27% decline over the last 24 hours based on data from TradingView.

Recent price charts show Ethereum failing several attempts to push back above $2,000, turning that level into a strong resistance barrier. Momentum indicators also reflect weaker sentiment compared to Bitcoin. Ethereum’s RSI is currently near 44, indicating subdued buying activity.

Following the sharp drop in February, Ethereum has largely been moving within a range between $1,800 and $2,100. This narrow trading band suggests that the market is still undecided about its next major direction.

Broader Crypto Market Turns Red

Because Bitcoin and Ethereum represent the largest share of the crypto market’s total capitalization, their price movements usually influence the rest of the market. When these two assets decline, most other cryptocurrencies tend to follow.

The latest downturn triggered losses across several major altcoins, confirming that the current weakness is affecting the entire market rather than a single asset.

Although the market showed signs of stabilization earlier this month after February’s correction, the recent rejection at key resistance levels indicates that momentum remains fragile. Traders are now closely monitoring whether Bitcoin can defend support near the mid-$60K range and whether Ethereum can regain the $2,000 level.

Final Summary

Bitcoin’s rejection near $70,000 and Ethereum’s fall below $2,000 have intensified bearish pressure across the crypto market. Current indicators suggest the market is still in a consolidation phase after February’s correction, with traders waiting for stronger signals before the next major move.

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