The cryptocurrency market is hanging by a thread. Yesterday, a CryptoQuant analyst noted that structural weakening has not gone anywhere, but Bitcoin still held above critical support levels during Asian trading. BTC is trading at around $72,680, and Ether is at the $2,240 level. The Fear & Greed Index fell to 17 out of 100—extreme fear; investors clearly believe that October’s high was the peak.

An interesting picture is emerging in altcoins. Over the week, HYPE added almost 18%, and POL and LIT also rose, but privacy coins like XMR and ZEC are falling for the third day in a row. This is happening because, on weekends, liquidity dries up, and altcoins start making exaggerated moves—when the market is thin, even small orders cause price spikes.

Derivatives indicate that volatility remains elevated, although open interest has stabilized at multi-month lows of around $110 billion. In a single day, more than $300 million was liquidated in leveraged positions. In the options markets, puts on Bitcoin and Ether remain more expensive than usual—traders are clearly expecting further downside. Here’s the picture as of April 11: the market is searching for a bottom, but every analyst is waiting for their own reversal moment.