Bitcoin
$86,631 priced dropped to $82,256 in the last 24 hours, as Trump’s aggressive moves reversed gains. Despite significant achievements amid regulatory pressure, fears arise as tariffs escalate the global trade conflict, unsettling traders. Many altcoins have fallen below last year’s lows. What do experts say about the situation?
Will Altcoins Rise?
BTC found buyers at $86,500 after hitting $82,256. NVIDIA released its quarterly data, showing better-than-expected figures. Although this could support risk assets at market opening, concerns linger over the EU’s retaliation, potentially leading to another drop.
Returning to the analysts, Moustache highlighted that altcoins did not react as negatively to the BTC decline as before, sharing the chart below.
“If you’re wondering why altcoins reacted so well against $BTC;
ETH/BTC is at the bottom of a declining expanding wedge.
We also see a massive weekly bullish divergence.
ETH/BTC has touched the four-year downtrend line.
Is an altcoin bull market on the horizon?”
Carl Moon pointed out the falling wedge in the DOGE chart. If these nightmare days turn into an anticipated altcoin bull market, DOGE’s price could rise to $0.434 after breaking out of the wedge.
Bitcoin Price Predictions
The recent peak was set at $87,000, and reclaiming $85,000 as support is positive. However, more is needed. TraderSZ shared the current key ranges in the chart below. According to the analyst, if the price cannot hold above $83,326, we could see a decline to $75,063.
A crucial point to watch is marked at $91,589. Short-sellers have made enormous profits in cryptocurrencies over the years, often at the expense of bulls. We may soon return to a point where opening short positions will be feared. The fact that this has not happened in the last cycle encourages traders for the future.
Finally, Ali Charts shared the chart inspired by previous cycles, stating that there is still room to grow in this cycle. Compared to 2015, the real peak has yet to be seen.