The cardano (ada price)cryptocurrency market faces a critical juncture as Bitcoin extends its losing streak to seven consecutive trading days. This prolonged downturn comes ahead of pivotal macroeconomic data that could dictate near-term price action.

Monday's trading session saw Bitcoin (BTC) extend its decline, touching intraday lows around $81,278. The leading cryptocurrency has surrendered approximately 6% since testing resistance near $90,000 last week, with technical indicators suggesting potential further downside toward the $76,000 support level last seen in mid-March.

Market analysts attribute the recent weakness to multiple factors including geopolitical tensions surrounding trade policies and the Federal Reserve's preferred inflation gauge (PCE) data. These developments triggered risk-off sentiment across traditional markets, with spillover effects impacting digital asset valuations.

All eyes now turn to Friday's dual catalysts: the March non-farm payrolls report and scheduled remarks from Fed Chair Jerome Powell. Market participants will scrutinize these events for insights into the central bank's monetary policy trajectory, particularly regarding the timing of potential rate adjustments. The interplay between labor market strength and inflation dynamics could prove decisive for Bitcoin's near-term direction.

Technical analysts note that Bitcoin's current consolidation phase represents a retest of its breakout level from earlier this year. A successful defense of the $80,000 psychological support could establish a base for renewed upward momentum, while failure to hold this zone might invite additional selling pressure toward lower support thresholds.