Why Is The Crypto Market Down Today?

The total crypto market is still suffering from the fear existing among investors towards risk assets extending from the macro financial markets. Bitcoin (BTC) slid below $70,000 again while MYX Finance (MYX) took the top spot among the altcoins.

In the news today:-

• A US federal judge sentenced former SafeMoon CEO Braden John Karony to 100 months in prison after his fraud conviction linked to the token’s collapse. The court will hold a separate hearing on April 23 to determine restitution and additional financial penalties.
• Goldman Sachs reported substantial crypto exposure in its Q4 2025 13F filing, disclosing over $2.36 billion in digital asset investments. The holdings include $1.1 billion in Bitcoin, $1.0 billion in Ethereum, $153 million in XRP, and $108 million in Solana, accounting for 0.33% of its total reported portfolio.

The Crypto Market Cap Is Consolidating

The total crypto market cap fell $63 billion in 24 hours, reflecting worsening sentiment toward risk assets. The Fear and Greed Index signals extreme fear, pressuring short-term price action. In this environment, Bitcoin and altcoins may face volatility as investors reduce exposure and liquidity conditions tighten.

TOTAL declined to $2.30 trillion and now trades in a narrow range between $2.30 trillion and $2.37 trillion. This consolidation highlights market indecision. Technical indicators show weakening momentum, suggesting traders await stronger macroeconomic signals before committing to significant crypto price forecasts.

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TOTAL Price Analysis. Source: TradingView

If sentiment improves, TOTAL could break above $2.37 trillion and target $2.45 trillion. A sustained move higher may open the path toward $2.64 trillion. Stronger capital inflows and easing risk aversion would be essential to support this bullish crypto market outlook.

Bitcoin Is Struggling

Bitcoin traded at $68,108 at publication, holding above the $67,674 support level. Maintaining this floor is critical for short-term stability. If selling pressure increases, BTC price could break below support and decline toward $62,893, a key level traders monitor for downside risk.

Weak buying pressure supports the cautious outlook for Bitcoin price prediction models. The Money Flow Index remains below neutral, signaling persistent sell-side dominance. This imbalance may cap upside momentum and keep BTC consolidating near the $70,000 psychological resistance level in the near term.

Bitcoin Price Analysis. Source: TradingView

If broader crypto market sentiment improves and long-term holders reduce distribution, Bitcoin could reclaim $70,000 with conviction. A breakout above $72,294 would strengthen bullish technical signals. Sustained momentum beyond that level may open the path toward $75,000, invalidating the current bearish thesis.

MYX Finance Is Hurting

MYX led crypto losses, dropping 17% in 24 hours. The altcoin traded at $5.17 after slipping below the $5.27 support level. This breakdown signals rising volatility and weak short-term sentiment. Traders are closely monitoring MYX price action for further downside risk.

The Chaikin Money Flow indicator shows fading capital inflows. After briefly turning positive last week, CMF has moved back below the zero line. This shift reflects growing outflows and cautious positioning. Continued weakness could push MYX price toward the $4.81 support zone.

MYX Price Analysis. Source: TradingView

If broader crypto market conditions stabilize, MYX may attempt a recovery. Stronger demand or reduced selling from holders could support a rebound. Reclaiming $5.27 as support would improve technical structure and open a move toward $5.99, invalidating the current bearish outlook.