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Bitcoin (BTC) 
$78,298 continues to struggle below $99,000 as U.S. markets open. However, consistent closing above $98,400 offers a glimmer of hope. While altcoins have seen some gains today, reversing weeks of losses will take time. The return to the cryptocurrency market’s former glory hinges on eliminating regulatory pressures and overcoming macroeconomic challenges.
Expectations for Cryptocurrency Growth
Trump’s clear intention to lower interest rates is backed by Fed members like Bostic, who argue that the balance sheet reduction needs to halt. Although interest rates may decline due to ongoing sales in the balance sheet, some Fed members insist that tightening must continue. However, a growing consensus suggests that the sales should stop at this stage.
Additionally, Trump seeks to suppress energy prices through increased supply. He has initiated a strategy to intimidate opponents regarding tariffs, potentially leading to market relief once he appears less aggressive, similar to what was seen in April.
Altcoin Trends and Market Analysts
Moustache expresses satisfaction with the critical support level established on the TOTAL3 chart, which previously served as resistance. The chart indicates a potential for significant upward movement, but recent remarks from Trump about imposing digital service taxes on U.S.-based tech companies have shaken short-term optimism.
“Did you know that TOTAL3’s 2021 resistance has turned into a strong support level?”
Popular cryptocurrency analyst DonAlt advises maintaining calm in the market. He emphasizes the need for a three-day candle to shift market sentiment.
“I like what we’re seeing, so I urge everyone to stay calm. A break above $99k-$101k will indicate we can start moving upwards again.”
Jelle remains optimistic despite yesterday’s ETF outflows, signalling satisfaction with today’s green performance. He anticipates closing above $100,000 soon. In the coming hours, Trump is expected to sign new orders, which could further influence the market.
