Bitcoin slid to $65,000 before rebounding slightly into Monday after late selling hit the weekly close. TradingView data showed $67,500 as a key level, while traders kept a risk-off stance. Analysts said Bitcoin lost short-term structure, macro fears deepened, and March still faced a rare six-month losing streak.
A technical crypto analyst told Telegram subscribers that Bitcoin had shifted lower on the 4-hour chart. The analyst said BTC price formed lower highs and lost the $68,000 to $69,000 support zone. That area now acts as resistance.
The analyst added that short-term momentum remains bearish unless Bitcoin quickly reclaims the $69,000 to $70,000 area. Until then, the path of least resistance points toward the $65,000 demand zone.
Earlier, Cointelegraph reported that $70,000 had rapidly turned into resistance. It also said a key long-term trend line at $68,300 failed to hold as support.
Jelle said Monday that Bitcoin’s local uptrend had ended, as expected. He said price had started moving lower again and was testing previous lows as resistance. According to him, bears had moved back into control.
At the same time, Roman said Bitcoin was repeating the same bear flag breakdown seen in January. That pattern has already led some traders to project targets below $50,000.
Can Bitcoin regain lost resistance before broader pressure pushes it deeper into demand?
Meanwhile, macro markets stayed sensitive to developments in the US-Iran war as April began. President Donald Trump reported a “big day” militarily at the start of the week, amid reports of plans for a ground invasion of Iran.
As a result, Asian stock markets opened sharply lower on Monday. Markets reacted as the oil supply crisis added fresh pressure across risk assets.
Mosaic Asset Company said tanker traffic through the Strait of Hormuz remained limited. It added that the disruption continued to strain energy markets and raised uncertainty over access to fertilizer products for farming.
Mosaic also said the S&P 500 had now closed five straight losing weeks. It noted that this marked the longest losing streak since the 2022 Russia-Ukraine war.
The firm said rising energy prices increased the risk of lasting damage to the global economy. It also warned that inflation now posed the most important spillover risk for interest rates.
Late March already brought weakness across crypto markets, alongside falling stocks. Cointelegraph previously reported that hopes for Federal Reserve rate cuts in 2026 had faded. At the same time, recession bets for this year climbed to their highest level since last September.
Jerome Powell was due to speak on Monday in a moderated discussion at Harvard University’s Principles of Economics class. Traders looked to the event for more clarity on officials’ economic views.
Mosaic said the outlook for Federal Reserve rate cuts was now in jeopardy. It added that long-term rates were rising because of inflation uncertainty, while the 30-year Treasury yield neared a possible breakout.
Bitcoin also entered the monthly close with little room for error. CoinGlass data showed March still sat on a knife-edge, with a green finish still possible.
If Bitcoin closes March below its opening price, it would log six straight red months. That would mark the first such streak since the 2018 bear market.
Daan Crypto Trades said Bitcoin was nearly flat for the month, much like last year. He added that April has historically ranked as Bitcoin’s third-best month by average returns.
Trader XO pointed to February 2019, which followed Bitcoin’s previous six-month losing streak. That month produced an 11% gain. XO said an early April sweep into the $55,000 to $60,000 range could create a mean-reversion long setup, though the higher-timeframe structure still controlled price.
Also Read: Bitcoin Slides as Fed Fears and Inflation Hit Crypto Markets
Bitcoin fell to $65,000 before a modest rebound as bearish chart signals, rising inflation concerns, and war-driven market stress kept traders cautious. With resistance still firm and macro risks building, Bitcoin now heads into April facing pressure from both technical weakness and a fragile wider market backdrop.