The Crypto Has Pulled Back, but Has Kept Its Bullish Sentiment

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Published: Apr 9, 2026, 07:33 GMT+00:00

The crypto market has fallen to $2.41T. BTC has pulled back to $71K after attempting to break through $73K, holding above the 50-day MA. ETH is at $2.18K.

Bitcoin Tests Resistance, Ethereum Drifts in Consolidation Zone

Fig. 1. The crypto market has retreated from local highs but has not lost its optimism.

The crypto market cap dropped by 1.65% over the past 24 hours to $2.41 trillion, with most actively traded coins also declining. NEAR (+1.1%), Tron (+0.3%), and Bitcoin Cash (−0.5%) are performing relatively better than the market. The day’s underperformers include Algorand (−11.4%), Aptos (−6.1%), and Polkadot (−6.1%).

Fig. 2. Bullish signal: Bitcoin is trading above the 50-day moving average, which is trending higher.

Bitcoin made a fresh attempt to breach $73K on Wednesday but once again encountered a strengthening sell-off, retreating to $71K by the start of active European trading. BTC remains above the 50-day moving average, which has already turned upwards, reinforcing the short-term bullish sentiment. However, we will need to wait for the price to rise above $75K before we can speak of the market entering an active bullish phase.

Fig. 3. Ethereum has retreated to the center of the $2K–$2.4K consolidation range.

Ethereum retreated by 4% to $2.18K from its peak the previous day. This pullback is not yet cause for concern and appears more like a short-term correction while the overall sentiment remains optimistic. We see fluctuations within the $2.0K–$2.4K range as market noise; a breakout beyond this calm consolidation zone would signal the start of a directional move.

Crypto News

Analysts are skeptical about the sustainability of Bitcoin’s growth. Uncertainty regarding the fulfillment of conditions, the threat of a new escalation, and macroeconomic pressure could limit the growth of the crypto market, according to LVRG.

The key conditions for Bitcoin to resume growth are its consolidation above the $74K level and a subsequent break above $80K. Breaking through these levels could trigger a new wave of optimism and restore the uptrend, Galaxy Digital CEO Mike Novogratz said.

The US SEC has described its previous practice of prosecuting crypto companies under former chairman Gary Gensler as misguided. The regulator reported that 95 such cases had been initiated since 2022.

Zahir Abtikar announced the closure of the Split Capital hedge fund, citing the ineffectiveness of this business model for the cryptocurrency industry. According to him, the number of high-quality projects is declining, and many cryptocurrency creators are simply imitating the business.

The FxPro Analyst Team

About the Author

Alexander Kuptsikevichcontributor

Alexander is engaged in the analysis of the currency market, the world economy, gold and oil for more than 10 years. He gives commentaries to leading socio-political and economic magazines, gives interviews for radio and television, and publishes his own researches.

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