Bitcoin (BTC) $94,125 price is currently hovering around $80,500, as rapid developments regarding customs tariffs unfold. Market participants did not anticipate such a hardline approach from Trump once he took office. However, after taking the oath on January 20, things changed. What lies ahead?
When Will Cryptocurrencies Rise?
Everyone eagerly awaits the day of price resurgence, yet BTC struggles to stay above $90,000. The Federal Reserve is taking its time on interest rate cuts. Meanwhile, Trump announced on April 2 that irrevocable global customs tariffs will be implemented, with minimal portions subject to negotiation. So when will the rise occur?
Scott Melker shared the following graph to illustrate the broader picture to investors overwhelmed with details. He believes that a genuine upturn cannot begin until the tight monetary policy reverses, and this cycle will not be different.
“Interest rates normalize, then the Fed pivots, then the market corrects. I’ve shown this graph 100 times. The blue yield curve. The red Fed funds. The black is the stock market. It appears this time is no different.”
ETHBTC and XLM Coin
ETH ETF was seeing better prices prior to its approval. Despite interest from major asset managers like BlackRock and billions in investor demand, ETH price remains below $2,000. The flight from altcoins significantly pulled down prices, confirming the decision of those who sold from the $4,000 threshold at the right time. Kyle suggests that the ETHBTC graph indicates a necessary change.
“The $ETH/$BTC graph, showing Ethereum’s struggle against #Bitcoin, continues to decline. Since 2023, it has been downhill after a strong rise in 2021-2022 – decreasing open interest, weakening price action, and declining investor confidence. A bounce is possible, but currently, Ethereum
$1,791 seems trapped under heavy selling pressure.”
Ali Charts notes that due to a bullish flag, XLM Coin could move towards a $1.6 target, surpassing $0.42.