Apr 9, 2025
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Bitcoin Price Drops to $70,000 as Ethereum Hits 6-Year Low
The Bitcoin price is currently leading the market and has affected altcoins, particularly Ethereum, which has returned to seven-year low prices. Market sentiment has declined significantly as Bitcoin trades between $72,000 and $84,000.
Market Insights
- Alex Guts, CEO of Banxe, predicts Bitcoin may remain in a tight trading range during this period.
- Long-term outlook remains bullish due to increasing adoption and policy support.
- Trump’s tariff policies are causing short-term market declines but may lead to regulatory improvements for crypto.
- A Bitunix analyst suggests Bitcoin could reach $117,000 after current volatility settles.
Ethereum's Performance
- Ethereum has fallen to 0.01889 BTC, a level not seen since 2019.
- This decline indicates a complete retracement of gains from the past six years.
- Major news is needed for a potential recovery; otherwise, Ethereum holders face further challenges.
