Bitcoin continued to trade near the $67,000 level just following the strong U.S. March jobs report, with 178,000 jobs added, smashing expectations. The crypto market is currently consolidating as volatility cools, with futures markets tilting bearish. Bitcoin holds a tight range as altcoins rally on low liquidity, but derivatives data and options skew suggest traders are bracing for downside.
The total crypto market cap is up 1.1% on the day and back over $2.3 trillion, with daily trading volume of over $77.3 billion, down from over $100 billion just yesterday. Among major cap assets, Algorand (ALGO) is the strongest performer today, up nearly 15% after clearing resistance at $0.11 and now running toward $0.12.
Good Friday shuts CME futures and ETF activity, removing a key source of demand as large holders continue distributing and spot demand weakens. The negative gamma zone below $68,000 can trigger a self-reinforcing sell-off, leading to an ever larger slump.
