Today, cryptocurrency markets took a downturn as bitcoin and Ethereum saw prices plunge to seven-week lows. Bitcoin (BTC) and Ethereum (ETH) both dropped to the lowest since March. BTC fell to an intraday bottom at $26,166, closing out the Friday session with a 2.75% decrease in market capitalization. Ethereum, on the other hand, dropped to a low at $1,742 as the 14-day relative strength index (RSI) broke through its floor of 43.00.

At the same time, RSI readings on both assets were near their lowest points in more than two months. With momentum being down, it is likely that BTC could move towards $25,000 this weekend. Meanwhile, a regression on Ethereum's RSI points towards a potential long-term bullish trend. Bulls might use the current dip as an entry point into the market.

These price drops come at a time when the cryptocurrency market is seeing a general dip in the wake of declining interest from institutional investors. Last month, Grayscale Investments saw its largest withdrawal ever, with $1.05 billion exited from various funds. This decrease in institutional investment may provide a strong buying opportunity for those that are watching the market.

Overall, the latest decline in prices was a shock for many, who until recently were celebrating the highs of the bitcoin and Ethereum markets. On Thursday, BTC hit a peak of nearly $27,600, while Ethereum traded above $1,800 in its best day since April 25. As of now, the market appears to be in a downward trend, though it is uncertain how long the reprieve will last.



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