Aerodrome Finance

Bitcoin price slumped on Friday as uncertainty over the US economy and war in Iran negatively impacted stock and crypto markets.

Bitcoin and select major altcoins have turned down sharply, indicating that the bears are trying to take charge of the market.

Ether traders said ETH price could see further downside after bulls failed to defend the $2,000 support as signs of declining demand were apparent.

Bitcoin joined a risk-asset rout as oil-supply nerves sparked major US inflation warnings, with $70,000 in place as new BTC price resistance.

Bitcoin grabbed downside liquidity as oil-supply pressure sent BTC price action below $66,500 to its lowest levels since March 9.

Bitcoin long-term holders continued to expand their holdings, while increased withdrawal from exchanges flashed a classic supply shock warning.

Spot ETF outlflows, falling DEX volumes and a declining ETH futures premium may be preventing Ether from rallying, but flipping them could catalyze a rally to $2,400.

Bitcoin mass adoption by institutional investors has resumed, but global instability and the risk of rising US inflation put a lid on BTC’s breakouts above $70,000.