Bitcoin falls over 4% to retest $68k support as Q2 starts

Bitcoin fell implicit 4.5% to a section debased of $68,000 connected April 1, marking a reddish commencement to the period aft 7 consecutive monthly closes successful the green.

The flash clang resulted successful $319.43 cardinal successful liquidations implicit the past 24 hours — with longs making up the immense bulk astatine $252.42 million.

While determination has been immoderate betterment successful the past hour, the contiguous fallout saw a staggering fig of traders caught successful the downturn. The diminution comes aft the flagship crypto climbed to $71,500 implicit the play to adjacent a monthly candle astatine the highest terms successful history.

BTC was trading astatine a captious enactment level of $68,500 arsenic of property time, based connected CryptoSlate data.

Most of the crypto marketplace mirrored the crash, with Ethereum and Solana falling 5.91% and 6.63% implicit the past 24 hours.

ETH was trading astatine $3434, portion SOL was trading astatine $189 arsenic of property time.

Market sentiment

The trading sentiment remains cautious arsenic BTC/USD levels dipped to their lowest since March 25, prompting traders to show enactment levels closely.

Continued merchantability unit could spot Bitcoin retest $67,200 if it dips beneath the 200-period moving mean connected four-hour timeframe.

Despite achieving a historical seventh consecutive greenish monthly close, determination is simply a statement that the way to the Halving whitethorn not beryllium a straightforward upward trajectory.

However, the marketplace sentiment indicates a beardown content successful achieving caller all-time highs post-halving, evidenced by implicit $150 cardinal successful BTC bids placed down to $62,000 aft a little dip beneath $69,000.

The station Bitcoin falls implicit 4% to retest $68k enactment arsenic Q2 starts appeared archetypal connected CryptoSlate.