The crypto currency market, which makes a promising start next week, turned its direction down with sudden sales on Friday. At the beginning of the week, the expectations of the rise were replaced by the rapid decreases in the market. While many -digit losses were observed in many crypto currencies, investors moved to a cautious position. Bitcoin $84,916.31 and Ethereum 
$1,908.08 Many important crypto currencies, including, have lost value.
Hard withdrawal in Bitcoin and Altcoins
Although Bitcoin rose to $ 88,000 on Thursday, it fell to $ 83,800 on Friday. While the Coindesk 20 Index decreased by 5.7 %, Avalanche 
$20.38In subcoins such as Polygon, Near and Uniswap, this rate approached 10 %. Ethereum lost value both against the dollar and compared to Bitcoin, and since May 2020, it has decreased to the lowest level against the BTC.
This sudden decrease in the markets is considered as a reflection of the “price gap filling” process frequently mentioned in technical analysis. According to experts, it is not surprising that Bitcoin is withdrawn to $ 84,000-85,000. Analyst Analyst from LMAX Group, Joel Kruger, says that “until 2025, it is difficult to predict whether the bottom has been formed,” he says, while the range of $ 70,000-75,000 stands out as a strong support zone.
Economic data damaged market confidence
The latest economic data from the United States directly affected not only traditional markets but also the crypto money market. The S&P 500 and NASDAQ indices decreased by 2 %and 2.8 %, respectively. Crypto money -oriented companies also received their share of these decreases. Microstrategy (MSTR) and Coinbase, such as companies such as the losses that attracted attention.
Personal consumption expenditures for February (PCE) inflation data came above market expectations. An annual increase of 2.5 %and 2.8 %rise in core inflation increased the uncertainties of the Fed’s monetary policy. In the same period, the increase in consumer expenditures by 0.4 %brought questions about growth. This complex picture directly affected investors’ risk appetite.
Experts: “Fluctuation may continue, be cautious”
Bitcoin’s high correlation with technology shares, the crypto currency market prepares the ground to be influenced by fluctuations in traditional markets. Especially after the withdrawal in Nasdaq, the decline in Bitcoin once again revealed that this relationship continues. James Van Straten, one of Coindesk analysts, states that in the past, Bitcoin has filled similar price gaps and the current withdrawal is not surprising.
Investors are even more careful because of the extensive tariffs that the US plans to implement next week. Growth concerns at the global level created an unstable atmosphere both in the traditional and crypto currency market. In the light of all these developments, the fact that the markets entered the recovery process in the near term remains unclear.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
