The crypto market exhibited signs of high volatility over the last day pushing a majority of altcoins into losses. Bitcoin itself dropped in price by 3.8 percent in the last 24 hours. As of Friday, the most expensive crypto asset was trading at $70,095. Even with the fresh price dip, BTC’s current price is over six percent higher than its seven day average.
Ether mimicked Bitcoin’s trajectory to clock 3.82 percent over the last day. At present, ETH is trading at 2,052.
Analysts predict that for BTC $69,000–$70,000 is key for short-term structure and $75,000–$80,000 could target higher resistance levels. Likewise, for Ether, a decisive break above $2,300–$2,400 could trigger broader altcoin participation.
“Institutional flows through spot Bitcoin ETFs are stabilizing after earlier outflows, helping restore market confidence. But, Macro risks remain, with geopolitical tensions, energy market volatility, and global monetary policy uncertainty keeping risk assets sensitive to liquidity conditions,” Riya Sehgal, research analyst at Delta exchange told Coin Headlines. “Cryptoquant’s Bull Score Index near 10/100 signals the market is still cautious, suggesting Bitcoin may stay range-bound in the near term.”
BNB, XRP, Solana, Dogecoin, and Cardano registered losses of around three percent over the last day. Hyperliquid, Monero, Chainlink, Zcash, and Stellar also dipped in a similar margin.
Even OKX’s native OKB token succumbed to the market pressure and fell by 15 percent over the last day to trade at $95.9 on Friday.
Small, almost miniscule profits were ushered in by Canton, World Liberty Financial, and Kite on the price charts.
With most altcoins trading in the reds, the overall crypto market cap tumbled by 3.43 percent over the last day with its valuation coming to $2.38 trillion, CoinMarketCap showed.
Source: CoinMarketCap
“Investors are now focused on Friday’s US non-farm payrolls report. Economists expect about 70,000 jobs added in February, down from 110,000 in January, with unemployment steady at 4.3 percent. Weak data could increase pressure on the Federal Reserve to cut rates, which often boosts crypto demand,” said Sathvik Vishwanath, Co-Founder and CEO, Unocoin.
Over 85,353 traders were liquidated in the last 24 hours with total liquidations hitting $264.43 million, as per CoinGlass.