Bitcoin
$
0.000054has dropped to $94,908 today, and recent developments have led to further losses. Altcoin traders are facing significant challenges as the ongoing war in Ukraine appears to be nearing an end. While the legal pressures oncryptocurrencymight be easing, the risks posed by Trump’s global trade war continue to weigh heavily on market sentiment. Positive news seems to come hand-in-hand with bad news, creating a tumultuous trading environment.
The Bitcoin Dilemma
At the time of writing, the price of Bitcoin has fallen below the $95,000 mark. Negotiations are underway with Russia regarding territorial exchanges in Ukraine, which could potentially address several pressing issues. However, the risk markets are currently under negative pressure due to Trump’s ongoing trade war.
ETFs, decreased legal pressures, potentialaltcoinETF approvals, and ongoing discussions about BTC reserves all offer long-term benefits for cryptocurrencies. However, the possibility of the Federal Reserve ceasing interest rate cuts may concern investors, particularly with inflation risks rising due to tariffs.
Expert Opinions on Cryptocurrency
Despite the prolonged downturn in the cryptocurrency market, which has endured for nearly 70 days, Michael Poppe remains optimistic. In his recent assessment, he shared a graph indicating potential turning points for Bitcoin.
“If we reach the lower boundaries (below $95,000), it will signal a clear buying opportunity. If we recover to higher levels, it may lead to the next significant surge, targeting a new all-time high.”
CryptoBullet also holds hope for altcoins, with SUI Coin’s BTC graph indicating potential for the overall altcoin market.
“SUI/BTC 1 Weekly Update: It has retested an important support/resistance line and formed a strong weekly candle. SUI is far from finished. Target 1 – 0.000125, Target 2 – 0.000230.”
However, is this scenario likely to become a reality? It seems unlikely if Trump continues to impose tariffs, which continue to exert pressure on the cryptocurrency market. Altcoin traders are struggling, and there appears to be little chance of a resolution to Trump’s trade war in the near future. This conflict may persist for at least another month.
