The Crypto Market Is in No Hurry to Gain Ground
By: Alexander Kuptsikevich | Published: Apr 07, 2026
Market Overview
The cryptocurrency market capitalization has decreased to $2.35 trillion, with Bitcoin (BTC) retreating to $68.6K after briefly testing the $70K mark. Solana is trading near its lowest levels since late 2023, indicating a bearish trend.
Current Market Performance
The crypto market has seen a 0.6% decline in the last 24 hours, hovering around its 50-day moving average. Major cryptocurrencies are predominantly down, reflecting a cautious sentiment in traditional financial markets. Notable performers include:
- Zcash (+3.1%)
- Filecoin (+0.9%)
- Basic Attention Token (+0.6%)
Conversely, underperformers include:
- Avalanche (−9.7%)
- Algorand (−8.6%)
- Ethereum Classic (−5.5%)
Bitcoin Analysis
Bitcoin's recent price action shows it failed to maintain the $70K level, dropping to $68.6K. This fluctuation is part of a corrective rebound pattern that has characterized its trading over the past two months. The volatility in the market highlights the challenges in shifting investor sentiment.
Solana's Struggles
Solana is currently trading below $80, close to its lows from early February. It has not consistently traded below this level since late 2023, and its price is below both the 50- and 200-week moving averages, indicating a long-term bearish trend.
Market Sentiment and Predictions
Negative sentiment towards Bitcoin on social media has reached a five-week high, suggesting a potential trend reversal. Analysts indicate that a sustained move above $75K for Bitcoin is necessary to signal a recovery in demand and end the current downtrend. Without this, there is a risk of Bitcoin plummeting to $10K.
Institutional Developments
In a notable development, Charles Schwab plans to launch trading in Bitcoin and Ethereum in the second quarter, although clients will initially be unable to transfer cryptocurrencies to external wallets. Additionally, a strategy has acquired 4,871 BTC for $329.9 million, bringing its total holdings to 766,970 BTC, purchased at an average price of $75,600 per Bitcoin. BitMine has also increased its Ethereum reserves by acquiring 71,252 ETH for $152 million.