BTC and ETH are in the red, what’s the main cause of today’s crypto price drop (13/4/26)?

Jakarta, Pintu News – The crypto market has again been rocked by a sharp decline that has many investors wondering, what exactly happened? The global crypto market capitalization plummeted to $2.39 trillion on April 13, 2026, falling 27% from its peak earlier in the year.

This decline dragged the price of Bitcoin (BTC) below $71,000, while some altcoins such as Dash (DASH) briefly showed resistance before eventually correcting. This article will take a deeper dive into the main causes of the market decline, key levels to watch, as well as the opportunities that still remain amidst the selling pressure.

Crypto Market Capitalization Crashes Below Important Fibonacci Levels

The global crypto market capitalization has been on a consistent downward trend since late January 2026. After reaching a peak of $3.29 trillion, the market lost momentum and broke through some of the Fibonacci levels that traders primarily reference. Today, the total market capitalization stands at $2.39 trillion, losing $61 billion in value in just the last 24 hours.

This puts the market just below the 0.618 Fibonacci level of $2.46 trillion, which is now an important resistance area.The $2.46 trillion level is a key challenge for buyers looking to reverse the bearish trend. If this level is successfully broken, the next target is at $2.6 trillion as further resistance.

Meanwhile, the 10-day simple moving average (10 SMA) provides short-term support at around $2.39 trillion. If the selling pressure continues, the next support is at the 0.786 Fibonacci level at $2.27 trillion, and a deeper drop could take the market to the full retracement target of $2.05 trillion.

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Bitcoin (BTC) Price Prediction: Can $71,000 Last?

Bitcoin’s (BTC) daily chart shows a clear downward trend throughout 2026. Currently, Bitcoin is trading at around $71,023, down 2.86% from the previous Sunday’s high. The price of BTC is slightly below the 0.618 Fibonacci level of $72,359, signaling that selling pressure still dominates. The Fibonacci level taken from the swing low of $60,016 to the swing high of $97,925 puts Bitcoin in a deep retracement zone.

If Bitcoin fails to hold the $71,000 level, the next support is at the 0.786 Fibonacci level at $66,645, which means a potential drop of about 6% from the current price. The 100-day simple moving average (SMA 100) also shows a downward trend and is above the current price, reinforcing the bearish structure.

Since October 2025, Bitcoin has never closed above the 100 SMA, so a close above $75,300 would be a strong signal of returning buyer strength. If that happens, Bitcoin will face the next resistance at the 0.5 Fibonacci level of $76,662.

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Dash (DASH) Had bucked the trend, but correction was inevitable

Amidst the market pressure that has hit the majority of crypto assets, Dash (DASH) has stolen the show with a significant price surge. In the past week, the privacy token shot up by more than 100%, from a low of around $29 to a high of $47. However, the rally didn’t last long, as Dash then corrected 12.27% from its swing high peak.

Dash price is now at $41.80 after failing to break the strong resistance at the 200-day simple moving average (200 SMA) at $46.49. Currently, Dash is moving between Fibonacci levels of 0.618 at $46.27 and 0.786 at $37.85. The surge in volume during the rally suggests there is considerable buying interest, but the key challenge remains in Dash’s ability to hold above $46.

If it fails to maintain support at $37.85, the entire price increase could be wiped out and Dash could potentially return to its pre-rally levels. This indicates that while there are opportunities in certain altcoins, the risk of correction remains high amid a bearish market.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• BeInCrypto. Why Is the Crypto Market Down Today? Accessed on April 13, 2026
• Featured Image: Generated by AI