Bitcoin (BTC) $0.000034 is currently priced at $84,700, despite previously maintaining a $85,000 support level. Throughout the week, discussions regarding tariffs and Trump’s remarks to Powell have been closely monitored. Although cryptocurrency traders have yet to experience the desired upward trend, the prolonged negative sentiment necessitates a pause for the market.
Bitcoin (BTC)
The leading cryptocurrency, Bitcoin, remains at $84,700 at the time of writing. The $83,000 threshold, which has been held for several days, is seen as a hopeful sign for further growth. Nonetheless, concrete actions on tariffs and consistent communications about agreements are essential. While Trump announced plans related to the Ukraine conflict last Friday, claiming Crimea will be recognized as part of Russia, the ceasefire is not progressing well within the last 24 hours.
Despite a busy agenda, there are optimistic sentiments surrounding Bitcoin. Titan of Crypto shared a chart suggesting that Bitcoin may move towards the $96,000 mark.
Rekt Capital remarked:
“Bitcoin not only broke the downtrend but also successfully retested it as support for the first time since its formation. Additionally, Bitcoin has managed to stay sustainably above the downtrend for several consecutive days.”
Those anticipating a deeper drop to $69,000 are currently disappointed. Compared to previous significant price movements, the drop from $109,500 is not to be taken lightly, casting doubt on the realistic nature of deeper correction expectations.
Solana (SOL)
If a recovery is anticipated in the broader cryptocurrency market, an increase in appetite for leading altcoins is necessary. Movements in cryptocurrencies such as SOL, DOGE, and ETH could potentially reverse Bitcoin’s market dominance and lay the groundwork for altcoin growth.
Ali Martinez shared a chart indicating that we might be receiving signals on the Solana $145 front.
“The number of wallets holding over 10,000 Solana (SOL) increased by 1.53% last week, rising from 4,943 to 5,019. This shows a slight but significant uptick in large investor activity!”
If this trend continues, the rise of SOL Coin may mark the beginning of a recovery.