The crypto market appears to be stabilizing after facing rejection following a rally earlier this week. Bitcoin (BTC) attempted to break above the $70,000 price level but failed. Let’s discuss whether the crypto market will fall further after the consolidation or rise again.
Will the virtual currency market fall further?
Bitcoin (BTC) showed signs of recovery before falling to the $67,000 price level. According to BTC data from CoinGecko, the original cryptocurrency has fallen 1.1% in the past 24 hours, 24% in the last month, and 20.4% since late February 2025. BTC sustained some gains on the weekly and 14-day charts, increasing by 0.7% and 2.3%, respectively.
According to CoinGlass data, more than $250 million was liquidated in the crypto market in the past 24 hours. Investors may have bought on the edge when Bitcoin (BTC) fell to the $63,000 level and booked profits when it started testing the $70,000 level.
Cryptocurrency markets are subject to large market forces. Markets have faced major challenges from macroeconomic forces and geopolitical tensions since October last year. The liquidity crunch earlier this month put significant selling pressure on investors. The market is unlikely to recover unless larger economic concerns are resolved.
Many experts predict billions of dollars in tax refunds will flow into the stock market. Some of this capital may also flow into the crypto market. These developments could cushion the price decline to some extent. Furthermore, there is a possibility that incoming Federal Reserve Chairman Kevin Warsh will lower interest rates once he takes office. A rate cut could lead to a market rally in the crypto sector. However, the situation is not solidified and it remains to be seen how things will unfold.