Here’s Why the Crypto Market Is Crashing Today: Bitcoin Price Dips Below $75k

Bitcoin’s ( $BTC ) price fell below $75,000, hitting its lowest since early February. Right now it’s sitting around $74,500, down over 10% in the past day. The steep decline happened after Bitcoin couldn’t stay above the $80,000 support level yesterday.
Ethereum, XRP, and other big-name altcoins aren’t faring any better. ETH is sitting near $1,430, the lowest it’s been in over five months. XRP has fallen below $1.65, and both Solana and Dogecoin are down by double digits.
The entire crypto market is feeling the pressure. The global market cap has dropped to $2.37 trillion, falling 11.04% in just one day. A lot of this selloff was triggered by Bitcoin flashing a “death cross”, a chart pattern that traders see as a warning sign for deeper downtrends ahead.
Bitcoin Flashes Death Cross as Trend Turns Bearish
Bitcoin’s 50-day moving average crossing below its 200-day moving average, a death cross. This crossover, which occurred around the $87,000 level, suggests long-term momentum has shifted bearish.
The chart also shows BTC price making lower highs and lower lows since February. After a short recovery attempt in March, Bitcoin got rejected at the death cross level and started falling sharply. Bitcoin has fallen below $75,000 after traders couldn’t maintain the $80,000 level.
Support around $74,000 is weak, and if it doesn’t hold, watch for $72,000 and $70,000 as the next key levels. Analysts say price could revisit those zones if bearish pressure continues.
Stock Market Turmoil Adds to Crypto Weakness
U.S. stocks are also struggling. China’s stock market just suffered its worst single-day crash since 2008. At the same time, there are new concerns over macro policy, with JP Morgan suggesting the Federal Reserve might cut rates before its next scheduled meeting in May.

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