After the launch of Deepseek, the global market experienced a significant pullback. This led to losses in both the U.S. stock market and the Crypto-verse, wiping out billions within hours. While the crypto market did see an overnight bounceback, marketers are concerned about the possibility of another correction in the near future.
Investors are now curious about how low BTC will go and why the crypto market is down today. There is also uncertainty about whether the top crypto token will regain momentum or if there will be another crypto market crash. Let’s delve into the latest developments and predictions in the world of cryptocurrency.
BTC Price Reclaims The $100k Mark!
The Bitcoin price has successfully reclaimed the $100,000 mark with an intraday jump of 3.67%. However, Bitcoin ETFs recorded the highest single-day outflow of $457.6 million, indicating rising uncertainty for the BTC price this week.
The Moving Average Convergence Divergence (MACD) is showing a decline in the green histogram, with potential bearish convergence. Additionally, the SMA indicator has experienced a negative crossover, signaling a negative outlook.
If the bulls regain momentum, Bitcoin could retest its resistance at $105,000 and potentially reach $108,000. On the other hand, a bearish scenario could see the price retesting its low of $98,000 today.
Ethereum Price Successfully Retests Its Crucial Support Trendline!
Ethereum’s price has seen a 3.86% increase in 24 hours, with a trading volume of $33.557 billion. The token has reclaimed its important resistance level of $3,200 but is struggling to break above $3,500.
The Relative Strength Index (RSI) is hovering around the neutral point, while the 50-day EMA acts as resistance and the 200-day EMA provides strong support. This indicates mixed price action for Ethereum in the near future.
Maintaining the price above $3,200 could lead to a retest of $3,300, while increased selling pressure could push the price down to $3,100. Investors are eager to know if Ethereum will achieve a new all-time high this year.
Ripple Price Displays A Strong Bullish Reversal!
After hitting a 24-hour low of $2.73 due to Deepseek panic selling, the XRP token has recorded a strong bullish recovery with a 6.38% increase in 24 hours and a trading volume of $15.143 billion. It has reclaimed the $3 mark during Asian trading hours.
The Simple Moving Average (SMA) shows a strong bearish curve, and the MACD indicator reflects a similar price action. This suggests that the XRP price may continue to decline this week.
If the bulls can keep the price above $3, Ripple may retest its high of $3.30 today. However, if uncertainty persists, the price could drop to its 24-hour low of $2.75.
FAQs
- Is Bitcoin a good buy now?
With BTC successfully reclaiming $100,000, the largest crypto token shows a positive long-term outlook. - Is Ethereum a buy or sell now?
Considering a potential altcoin season, Ethereum is a potential buy now. - What will 1 XRP be worth in 2025?
If bullish sentiment continues, Ripple may reach a new all-time high of $4 this year.Stay informed about the latest developments in the crypto market to make informed investment decisions.