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09.04.2025 09:22 AM
Another Cryptocurrency Market Crash
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Another collapse in the stock markets has also hit the cryptocurrency market. Investors, fearing further declines, began to massively offload digital assets, which triggered a sharp drop in the prices of Bitcoin, Ethereum, and other popular cryptocurrencies. Experts attribute this to growing concerns about a potential U.S. economic recession and the inaction of the Federal Reserve.

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Bitcoin plunged to around $74,500 during the morning session but has since recovered to about $77,400. Ethereum even broke through the $1,400 mark, falling to $1,387, before rebounding to $1,463, where trading is currently taking place.

Panic in the market is being intensified by uncertainty over future U.S. interest rate policy and trade tariffs, which could potentially destabilize the entire global trade system. Despite this, many believe the decline of cryptocurrency is temporary. Analysts point to the persistent interest in blockchain technology and the potential of cryptocurrencies as an alternative investment instrument. However, to restore investor confidence and stabilize the market, the U.S. economy—especially the stock market—needs to stabilize first.

As long as the U.S. stock market continues to tumble, talk of buying in the crypto market remains premature. Investors, fearing further losses in traditional assets, will also sell off crypto as the riskiest asset class to free up liquidity to cover losses elsewhere. Still, it's important to note that this kind of correlation is not constant. In the long term, cryptocurrencies may show greater resilience to external economic shocks, especially if regulatory frameworks are introduced that encourage institutional capital inflows. For now, caution and a conservative approach to investing in the crypto market appear to be the most prudent strategy. It is crucial to closely monitor developments in the U.S. stock market and assess potential risks before making any investment decisions in digital assets.

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Bitcoin Technical Outlook

Buyers are now aiming for a return to the $77,600 level, which would open the way to $79,500, and from there, it's a short distance to $80,500. The furthest bullish target is the local high near $82,100—a breakout above this level would indicate the end of the bear market. If Bitcoin falls, buyers will likely appear around $76,300. A return of the asset below this zone could quickly push BTC toward $75,100, with the final bearish target at $74,100.

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Ethereum Technical Outlook

A firm hold above the $1,495 level opens the path toward $1,549. The furthest bullish target is the local high, around $1,603—a breakout above this level would signal the end of the bear market. In the event of a decline, buyers are expected around $1,434. A move back below this zone could quickly drag ETH toward $1,373, with the furthest bearish target around $1,309.

Jakub Novak,
Analytical expert of InstaForex
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