Analysts at QCP Capital have noted that Bitcoin is consolidating in the range of $65,000 to $70,000, outperforming both gold and stocks.
During the Asian session, Bitcoin's price briefly dipped to $65,000 but later rebounded to $67,000—a trend that has persisted throughout the month. The cryptocurrency has been declining towards the weekend due to margin position closures, but it begins to recover with the start of the new work week.
Experts pointed out the overall weakness in sentiment among both retail and institutional investors. A strong catalyst is needed for the market to resume its upward trend. Analysts reminded us of the recent mass sell-off following the expiration of quarterly options. Bitcoin risks closing in the red for the sixth consecutive month, marking the first three-month decline at the start of the year.
High oil prices continue to exert inflationary pressure on the global economy. Experts believe that macroeconomic turbulence supports the case for purchasing Bitcoin as an independent store of value.
In the derivatives market, traders are proceeding with caution. Implied volatility has decreased, and market participants are actively buying options to hedge their portfolios against potential price shocks. Sellers prefer to stay out of the market until the situation stabilizes.
Altcoins at Historic Lows
The cryptocurrency market is suffering from the high volatility of traditional finance. According to analyst Darkfost, altcoins are currently under the most pressure, facing a decline unlike any seen in this cycle.
More than 40% of Altcoins near All-Time Lows
— CryptoQuant.com (@cryptoquant_com) March 30, 2026
“This is even higher than during the previous bear market, which peaked at ~38%… However, when such extreme underperformance appears, it can also create very attractive opportunities.” – By @Darkfost_Coc pic.twitter.com/XvAmKiKyyQ
Over 40% of alternative coins have approached or hit historic lows, surpassing the peak of the last bear market, which was at 38%.
Macroeconomic instability remains unfavorable for risk assets. A second reason for the downturn is the mass issuance of tokens.
According to researchers, over 47 million cryptocurrencies have been created, with 22 million issued on the Solana blockchain, 18 million on the Base network, and 4 million on the BNB Chain. This massive supply dilutes liquidity, making altcoins vulnerable and explaining their record underperformance compared to Bitcoin.
Darkfost added that the extreme market decline presents attractive opportunities. Investors can now purchase fundamentally strong and resilient projects at price lows.
Notably, analysts at JPMorgan stated that Bitcoin is weathering the Iranian crisis better than major precious metals.