Hey everyone, I’m back to writing ! Many things have happened over the last few months. In this article, we’re going to talk about the current situation and what might be next !
Market Sentiment
The beginning of the year was a rollercoaster of emotions. We saw huge hype around the election of President Trump, the first openly pro-crypto president with many campaign promises, such as making Bitcoin part of a strategic national reserve.
In the end, President Trump didn’t seem to care much about crypto, at least for now. The so-called reserve turned out to be just the existing Bitcoin held by the U.S. government. The launch of his memecoin $TRUMP marked the top of the hype. Since then, sentiment has turned downward, especially with the launch of other memecoins like $MELANIA, and investors realizing that Trump wasn’t going to focus on the market after all.
Source : Chip Somodevilla / Getty Images
The height of the crisis was the tariff war with China. However, tensions have since cooled. Meanwhile, the war in Ukraine appears to be approaching a resolution, and U.S. inflation remains low for now which means the FED will likely continue to lower interest rates.
Source : True Inflation
What’s Next
In this article, I’ll mostly focus on Bitcoin, since it’s the king that leads the market.
On the weekly chart, we can see that the 50 EMA and SMA, which have acted as support since the beginning of the 2023 bull run, have held the price near the $78k level. Since then, we’ve seen a strong rebound, with Bitcoin reclaiming the $92k–$109k range zone.
Usually, when a range is retested, price action moves to the other end of the range so we might see a push toward the $109k area.
Despite weak U.S. GDP numbers (-0.3%), both the stock market and the crypto market have continued to close higher.
After several days of consolidation, we’re now breaking out toward the key psychological level of $100k.
Looking at BTC ETF inflows, we can see that despite the dip, institutions didn’t sell much inflows are almost back to all-time highs !
As always, thank you for reading !
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Disclaimer: This is not financial advice, you need to do your own research !
