We witnessed a classic Trump moment as his statements today managed to drag down the markets.
Yet, BTC quickly rebounded to $109,000. As the weekend emerges with a potential rise in altcoins, Trump tries to pressure the EU into his terms on his last workday. This, of course, does not bode well for cryptocurrencies. But what do experts think?
Bitcoin Decline Analyst Insights
BTC hovers around the $109,000 mark. After reaching the $112,000 threshold, Trump’s speculative comments dampened investors’ risk appetite. Negotiations related to tariffs need to continue until July 9, yet Trump’s threat of additional taxes for June is worrisome. Such moves, which have previously contradicted agreements, increase uncertainty.
Trump’s various actions, including his public argument with the President of Ukraine and contradictory moves regarding tariffs, have shaken confidence in the US. This stance, which could lead to larger issues in the long run, has been suffocating the risk markets for months. DaanCrypto said the following about the graph shared at the time of writing:
“BTC is breaking the congestion with pressure from Trump. It is clear the global markets didn’t appreciate this news. We’ll have to see where it settles today and how BTC performs against stocks when trade uncertainty returns.”
Reclaiming the $110,000 mark can facilitate a new journey towards an all-time high.
Cryptocurrency Predictions
ETH hadn’t achieved significant gains during this period. Now, after BTC fell and recovered, ETH remains below $2,600. Titan of Crypto argues that Trump’s actions were used as an excuse to clear liquidity, paving the way for a stronger rise. As per the graph he marked, his short-term target is $120,000.
Phoenix aims for the decline to deepen to $106,000 before a bigger peak.
“I had bought fear at $77,000 BTC during the peak of fear 1.5 months ago. I charted paths higher. In the past weeks, I showed you a familiar model here. I will draw the path for you again. Brace yourselves and stand firm before the real fun begins.”
