Bitcoin has dropped to $94,908 today, and recent events have caused further losses. Altcoin traders are facing challenges as the war in Ukraine seems to be coming to an end. While the legal pressures on cryptocurrency might be easing, the risks from Trump’s global trade war continue to affect market sentiment. Positive news and bad news are happening simultaneously, creating a volatile trading environment.
The current situation with Bitcoin is concerning as it has fallen below the $95,000 mark. Negotiations with Russia over territorial exchanges in Ukraine are taking place, which could potentially resolve various pressing issues. However, Trump’s ongoing trade war is negatively affecting the risk markets.
There are long-term benefits for cryptocurrencies such as ETFs, decreasing legal pressures, potential altcoin ETF approvals, and discussions about BTC reserves. However, investors may be alarmed by the Federal Reserve potentially stopping interest rate cuts, especially with the inflation risks caused by tariffs.
Despite the prolonged downturn in the cryptocurrency market, Michael Poppe remains optimistic. He shared a graph showing potential turning points for Bitcoin and believes that if it reaches the lower boundaries (below $95,000), it will be a clear buying opportunity. If Bitcoin recovers to higher levels, it could lead to a significant surge and a new all-time high.
CryptoBullet also has hope for altcoins, particularly SUI Coin. Their BTC graph indicates potential for the overall altcoin market, with target levels of 0.000125 and 0.000230.
However, this scenario is unlikely if Trump continues to impose tariffs, which will keep pressuring the cryptocurrency market. Altcoin traders are struggling, and it seems unlikely that a resolution in Trump’s trade war will happen in the near future. This conflict could persist for at least another month.