Bitcoin lost momentum again after reaching US$ 67.000 at the beginning of the week. The cryptocurrency fell back to near US$ 64.000, while the main altcoins also posted losses this Friday.
The move interrupted the recovery seen in recent days. On Monday, BTC reached US$ 63.950, but later gained strength and reached US$ 67.000 on Tuesday night.
The rise came amid the resumption of net flows into Bitcoin ETFs and new purchases made by large investors. The advance, however, was unable to sustain itself for long.
On Thursday, Bitcoin fell to US$ 64.750 before recovering approximately US$ 1.000 during Friday morning. The reaction lost strength shortly afterward, once again pushing the cryptocurrency to lower levels.
Pressure increased after the current U.S. president, Donald Trump, warned the European Union about a new set of tariffs. The move contributed to a drop of approximately US$ 2.000 in Bitcoin's price.
At the time of publication, BTC was trading near US$ 64.000. The cryptocurrency's market capitalization stood at approximately US$ 1,285 trillion.
Bitcoin's dominance over altcoins, on the other hand, showed a slight recovery and reached 56,3%. The performance shows that the selling pressure was not limited to the largest cryptocurrency.
Among the biggest losses of the day was Worldcoin. The WLD token fell more than 10% and reached US$ 0,34, even after the project announced a fundraising of US$ 52,5 million intended for expanding the World ID infrastructure.
Other cryptocurrencies also posted significant declines. ONDO lost 7%, while LIT fell 6,3% and ZEC dropped 6%, moving away once again from the US$ 500 region.
Among the largest cryptocurrencies, Ethereum fell below US$ 1.860. XRP remained below US$ 1,10, while Solana dropped to US$ 74 and HYPE reached US$ 57.
Monero was one of the exceptions, rising 2,4% to reach US$ 365. Overall, the market lost about US$ 20 billion in daily capitalization, reaching approximately US$ 2,280 trillion.
Trader analysis: Bitcoin has support between US$ 61,2 thousand and US$ 62,3 thousand
Trader Merlijn The Trader published an analysis of Bitcoin's recent behavior and highlighted four price levels to watch. In the view presented, three regions appear below the current price, while US$ 67.000 is identified as the main resistance.
At the time the analysis was published, Bitcoin was at US$ 63.935. The trader identified US$ 62.300, US$ 61.700 and US$ 61.200 as “reload” levels below the current price.
Above the current price, Merlijn The Trader highlighted only the US$ 67.000 region. The level matches the high reached by Bitcoin at the beginning of the week, before the strong rejection that pushed the asset back into the US$ 64.000 range.
In his post, the trader wrote:
“STOP CHASING GREEN BITCOIN CANDLES. THE SETUP IS SHOWING WHERE TO WAIT.
Three reload levels below price: US$ 62.300, US$ 61.700, US$ 61.200.
One resistance above: US$ 67 thousand.
BTC is at US$ 63.935 in the middle. The edges are where the trades are, not here.
Drop to the replenishment levels or a breakout above US$ 67 thousand. Everything in between is noise.”
The analysis places US$ 62.300 as the first level below the price indicated by the trader. Next come US$ 61.700 and US$ 61.200, forming three successive price ranges.
On the upside, US$ 67.000 appears as the only resistance level mentioned. This value also represents a relevant region after Bitcoin reached that mark during the week and subsequently lost strength.
The reading published by the trader, therefore, focuses attention on the regions between US$ 61.200 and US$ 62.300 and on the resistance at US$ 67.000, while Bitcoin remains between these levels.