In the cryptocurrency market, after a partial recovery, a new decline has begun, and Bitcoin's price has fallen below $66,000.

The strong recovery on Friday following a weekly sharp decline in the crypto markets was not sustained. The largest Bitcoin, after rallying close to $72,000, faced selling pressure again and dropped below the $66,000 level.

Bitcoin, which experienced heavy losses throughout the week, fell to $60,000 last Thursday, and on Friday, it approached $72,000 with an approximately 20% increase. However, opinions are gaining that this recovery is a "dead cat bounce."

In U.S. morning trading, Bitcoin traded just below $66,000 with a decline of over 4% in the last 24 hours. Ethereum lost about 5.5%, dropping to $1,938, while Solana declined similarly to around $80. XRP also fell by 3.5%, reaching approximately $1.36.

The strong employment data from the U.S. influenced the selling pressure in the markets. The U.S. government announced an employment increase of 130,000 in January. This figure nearly doubled economists' expectations. The unemployment rate surprisingly fell to 4.3%.

Following the strong data, expectations for rate cuts quickly weakened. According to CME FedWatch data, markets are pricing in only a 6% chance of a rate cut in March and 23% in April. Before the data, these probabilities were 21% and 52%, respectively.

However, it is also debated whether rate cuts can pull the crypto market out of its bear trend. The sharp decline process had already started despite the Fed easing monetary policy in three consecutive meetings in 2025.

The crypto market continues to underperform globally during a period when other asset classes are in a bull market. This indicates decreased investor interest. According to CoinGlass data, the open interest in Bitcoin futures has decreased by 51% compared to its peak in October 2025. This suggests a significant pullback in traders' leverage and risk appetite.

In the last 24 hours, a total of $397 million worth of positions were liquidated in the crypto market. Of this, $286 million were long positions, and $110 million were short positions.

INVESTMENT WARNING: NOT FINANCIAL ADVICE