Bitcoin Holds $68K as Altcoins Stay Under Pressure

Stack of digital coins under glass ceiling, red falling chart, and cracked bar panel symbolizing market resistance.

Bitcoin Struggles Near $68,000 as Broader Market Weakness Weighs on Crypto Prices

Key Takeaways

Bitcoin rose above $68,000 but faces resistance near $69,000, with analysts warning of a potential sixth consecutive monthly loss.
The S&P 500 turned down from its 20-day EMA at 6,620, while the US Dollar Index rebounded above its 20-day EMA at 99.40.
Most major altcoins, including Ether, BNB, XRP and Cardano, remain below key resistance levels, signaling continued selling pressure.
On-chain models cited by analyst Willy Woo indicate a possible Bitcoin bottom between $46,000 and $54,000.

Macro Indicators Show Mixed Signals Across Equity and Currency Markets

Bitcoin and several major altcoins declined as US markets opened on Monday, reflecting trader concerns linked to oil prices, employment data and geopolitical developments involving the United States and the Israel-Iran conflict.

The S&P 500 Index reversed from its 20-day exponential moving average at 6,620, indicating that sellers remain active at higher levels. Analysts cited 6,147 as a level that could attract buying interest. A failure to hold that area could expose the index to 5,943. Conversely, a break above the 20-day EMA would signal easing downside pressure and could open a move toward the 50-day simple moving average at 6,803.

The US Dollar Index showed relative strength. It rebounded from its 20-day EMA at 99.40 and approached overhead resistance at 100.54. Sustained trading above 100.54 would place 102 and 103.54 in focus, while a rejection at resistance combined with a drop below the 20-day EMA could shift attention to the 50-day SMA at 98.25.

For crypto market participants, these cross-asset movements remain relevant. Equity weakness and a firming US dollar have historically coincided with more cautious positioning in risk-sensitive assets, including digital tokens.

Bitcoin Faces Resistance After Brief Move Above $68,000

Bitcoin closed below the support line of an ascending triangle pattern on Sunday but quickly moved back above that level. Buyers attempted to push the price through nearby moving averages, suggesting efforts to invalidate the earlier breakdown.

If Bitcoin sustains momentum above the moving averages, analysts point to a potential advance toward the $74,508 to $76,000 zone. However, failure to hold above $65,000 would increase the likelihood of a decline toward the $62,500 to $60,000 support area.

March could mark a sixth consecutive month of losses for Bitcoin if the asset closes lower, a sequence not seen since the 2018 bear market. According to analyst Willy Woo, several on-chain models indicate a potential bottom between $46,000 and $54,000.

Research from Ecoinometrics models the recovery timeline from Bitcoin’s October 2025 all-time high of $126,000. If the $60,000 low holds, a full recovery could take roughly 300 days from the peak, with about 175 days already elapsed. A deeper decline into the $40,000 to $45,000 range would likely extend recovery into the second quarter of 2027, as each additional 10 percent drawdown adds approximately 80 days to the modeled recovery period.

Ether and BNB Attempt Stabilization Below Key Moving Averages

Ether closed below its 50-day SMA at $2,040 but found support at $1,916. Buyers are attempting to reclaim the moving averages. A sustained move above them would increase the probability of a rise toward $2,400, with $2,600 as the next potential level if resistance is cleared.

If Ether falls below $1,916, analysts identify $1,750 as the next support zone.

BNB continues to trade below its moving averages. Sellers have not yet managed to push the token down to the $570 support level. A recovery above the moving averages would keep BNB within a $570 to $687 range, while a close above $687 would signal renewed upside momentum. A rejection at resistance would increase the risk of a drop back toward $570.

XRP, Solana, Dogecoin and Cardano Remain Range-Bound or Under Pressure

XRP remains below its moving averages, with both indicators sloping downward and the relative strength index in negative territory. Support at $1.27 is under observation. A break below that level would expose $1.11, while a recovery above the moving averages could allow a move toward $1.61.

Solana trades within a $76 to $95 range. A breakout above $95 would open the path toward $117. A close below $76 would shift focus to the February 6 low at $67.

Dogecoin has held above $0.09 but struggled to mount a sustained rebound. Continued selling near the moving averages raises the risk of a decline toward $0.08 if $0.09 fails. A move above the moving averages would allow $0.11 and $0.12 to come into view.

Cardano closed below $0.25, signaling continued seller control. If $0.25 turns into resistance, the February 6 low at $0.22 becomes the next reference level. A push above the moving averages would be required to shift the short-term trend structure.

Hyperliquid Tests Short-Term Support at 20-Day EMA

Hyperliquid trades near its 20-day EMA at $37.86. A drop below $36.77 would suggest weakening buyer interest and could lead to a test of the 50-day SMA at $33.73. On the upside, resistance levels stand at $41.59 and $44. A break above $44 would signal a potential continuation toward $50.

Our Assessment

The latest price action shows Bitcoin attempting to stabilize above $68,000 while facing resistance near $69,000 and the moving averages. Equity weakness in the S&P 500 and strength in the US Dollar Index provide a broader market backdrop that coincides with continued selling pressure across major altcoins. Several large-cap tokens remain below key technical levels, indicating that buyers have yet to regain consistent control. For crypto market participants, these levels define the short-term structure across both Bitcoin and leading alternative assets.