Bitcoin hovered below $67,000 on Friday, posting a gain of less than one percent as traders braced for the release of the US jobs report for March. The largest cryptocurrency has struggled for direction since the start of the Iran war on Feb. 28, and remains down by more than a third from its late-2025 peak of over $100,000.
"Bitcoin has broken the floor of the rising trend channel in the short term, which indicates a weaker initial rising rate," according to technical analysis from market research group Investtech. "The currency has broken down through support...This predicts a further decline."
The technical weakness is a key focus for traders, with the break of the recent support level suggesting that further downside is possible. While Bitcoin saw a minor gain, other major cryptocurrencies also saw muted moves. Ethereum, the second-largest crypto, rose less than 1% to trade above $2,000, while smaller tokens like Ripple and Solana were also marginally higher.
The upcoming long weekend, with stock markets closed, could provide a unique trading environment for cryptocurrencies. Any surprises from the March jobs report or unexpected geopolitical developments could act as a significant catalyst, potentially driving volatility in a market that trades 24/7.
This article is for informational purposes only and does not constitute investment advice.
