The cryptocurrency market traded lower on Feb 11, with Bitcoin and Ethereum both retreating amid cautious sentiment and thinning liquidity.
Bitcoin fell about 2%, slipping below the closely watched US$70,000 level as selling pressure persisted. The world’s largest cryptocurrency traded between an intraday high near US$70,100 and a low just under US$68,000, signalling heightened volatility as bulls struggled to regain momentum.
Ethereum underperformed Bitcoin, sliding more than 4% and hovering around the US$2,000 mark. The weaker showing dragged the Ethereum/Bitcoin ratio lower, reflecting continued investor preference for Bitcoin over major altcoins amid risk aversion.
Overall, market sentiment remained cautious, with traders watching key support levels for signs of stabilisation.
While some market participants see early signs of a potential base forming, analysts warn that further downside risks remain if current support zones fail to hold.
