Crypto Market in Freefall: Bitcoin, Solana, BNB... Widespread Selling
The entire cryptocurrency market is experiencing widespread selling pressure this Thursday, April 2, with declines ranging from 3% to nearly 7% across major market caps. Almost all major digital assets are showing unfavorable technical signals, in a global stock market context that is also trending downward.
Significant Retreats in Major Cryptocurrencies
Bitcoin has fallen by 2.86% over the last twenty-four hours to trade around $66,784, erasing the rebound attempt observed at the end of last week. The market leader had briefly touched $74,885 on March 16 before beginning a steady slide that brought it back below its early March levels. Altcoins are recording more pronounced losses. Binance Coin registers the largest drop of the panel, at -6.79% ($572.48), followed by Solana which loses 5.83% and falls back under $79. Ripple drops 4.47% ($1.29), while Cardano is down 3.46% ($0.24). Ethereum fares slightly better with a decline of 3.57% to $2,055, just staying above its 50-day moving average ($2,040). In the stock markets, Asian and European indices are also posting losses, like the Nikkei 225 (-1.04%) and the Sensex (-1.08%), while the VIX, although down 17.5% from the previous day, remains at 25.25 points, a level indicating persistent tensions in traditional markets.
Technical Indicators Signal Sell for Most Tracked Cryptocurrencies
Five out of the seven tracked cryptocurrencies display a sell signal, a rare alignment reflecting the magnitude of the current bearish pressure. The RSIs are concentrated in a range between 38 and 47: Cardano records the lowest of the panel (38.28), followed by Ripple (41.55), Binance Coin (42.88), and Solana (42.93). Bitcoin, at 47.25, remains in low-neutral territory and is currently testing the support zone identified at $65,000, while Solana is already flirting with its own ($78.96), levels whose sustainability could condition the short-term trajectory. Only Ethereum retains an RSI above 50 (51.29) and a neutral signal. The examination of moving averages reinforces the diagnosis. All assets are trading significantly below their 200-day moving averages, with sometimes considerable gaps: Bitcoin is trading 26% below its 200-day average ($90,604), while Solana shows a detachment of 44% from its own ($139.67). Cardano presents a similar gap relative to its 200-day average ($0.46).
