Bitcoin Price Drops Near $70K: On-Chain Data Signals Bearish Trend & Fed Rate Pause Bets

Bitcoin (BTC) is experiencing a downward move, approaching the $70,000 support level. Current on-chain analytics point to emerging bearish signals, suggesting a potential shift in market structure. Concurrently, the majority of traders are anticipating that the U.S. Federal Reserve will maintain its current interest rates in April, adding to the cautious sentiment. This combination of technical indicators and macroeconomic expectations is driving selling pressure in Asian trading hours, as investors reassess their positions. Market participants are closely monitoring key support zones to gauge the next directional move for the leading cryptocurrency.