By 3 p.m. ET on April 6, 2025, bitcoin (BTC) had dipped further to $78,639, deepening its retreat from recent peaks and indicating a market still gripped by caution. This added pullback builds on the morning’s downturn, hinting at dwindling momentum as Wall Street prepares to reopen Monday.
Sell Orders Dominate, Lackluster Demand on Buy Side
While bitcoin's trading volume has seen a slight uptick, the flow remains largely driven by selling, pointing to a lackluster appetite on the buy side. With liquidations in the derivatives market on the rise and regional pricing gaps lingering, bitcoin's Sunday trajectory may continue to offer insight into the broader appetite for risk as the new week begins.
Liquidation Surge and Regional Pricing Discrepancies
The drop below the psychologically important $80,000 level triggered over $520 million in total crypto market liquidations in the past 24 hours, predominantly long positions. Meanwhile, the price spread between Asian and U.S./European markets widened to more than $200, limiting arbitrage opportunities and fueling price instability.
Macro Headwinds Pressure Risk Assets
Market participants attribute the pullback to a combination of macro pressures: rising U.S. Treasury yields, a strengthening U.S. dollar index, and geopolitical uncertainties. Some traders expect the Federal Reserve to maintain its hawkish stance at the next meeting, further dampening demand for risk assets like bitcoin.
Despite short-term technical indicators showing oversold conditions, historical patterns suggest that bitcoin experiencing a similar Sunday drop often rebounds on Monday. However, market sentiment remains extremely fragile, and any negative news could trigger a new wave of selling.