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In a dramatic turn of events, the leading cryptocurrency plummeted to $93,500 over the past 24 hours, marking a challenging day for altcoins which also continue to trade in the red. In our previous analysis, we discussed the possibility of ongoing sales and pointed to potential support points for altcoins. Now, many cryptocurrencies have reached these support levels. What are experts saying about the latest downturn?
Bitcoin (BTC) Decline
The drop witnessed during the Fed week was spurred by weakening trading volume. Though Trump aims to sign the initial tariff agreement this week, it hasn’t been sufficient to drive prices upwards. Given the Fed’s relief from recent data, a rate cut as soon as June seems unlikely. Investors are anxious, fearing a contrary message might be delivered this Wednesday.
Phoenix shared the chart above and provided insights on Bitcoin 
$108,661’s recent movement:
“We dropped lower than expected. It’s crucial to maintain the depths of 93 and avoid rolling over again; however, I don’t foresee this happening. We will see what unfolds this week.”
Poppe maintained his optimism in his latest evaluation, sharing a similar sentiment. Altcoin Sherpa argued that a decline to $92,000 is plausible. In other words, Bitcoin could potentially fall by about two thousand dollars from its current level, creating a new local low.
“Honestly, $92k makes a lot of sense; it wouldn’t be surprising to touch this area short term. The previous CME Gap is significant. I’m still bearish, but given current conditions, I am proceeding much slower and not rushing.”
Altcoins and XRP Insight
Because BTC couldn’t surpass the $98,000 resistance, gains in altcoins have been minimal. Additionally, investors have become increasingly cautious after experiencing numerous false rallies in recent months. Any decline in BTC prices could trigger more pronounced losses in altcoins.
Meanwhile, Kyle recognized XRP Coin as an opportunity, pointing to whale accumulation. He believes a major move might be on the horizon.
“Currently, over 300,000 addresses hold $10,000+ XRP, a sharp jump signaling increased confidence from whales and significant investors. Strategic accumulation seems to be back. Could major players be leading a big move in the XRP ecosystem?”
