On the final business day of the week, the cryptocurrency market faces challenging conditions. The momentum has been lost, with Bitcoin unable to break the critical $98,000 resistance level, causing its value to decline. If Bitcoin fails to hold onto the $94,000 mark in the coming hours, a test of the $90,000 level might be imminent.
Current Altcoin Status
Bitcoin tested its daily low of $95,133 as this article was being prepared, while altcoins are experiencing losses exceeding 3%. This decline was anticipated due to the failure to maintain the $98,000 resistance. When momentum is lost, particularly in environments with evident uncertainty, a rapid decline is often expected. Although DaanCrypto remains hopeful for the ETHBTC pair, exercising caution is advisable.
"ETH is still tracking the Daily 200MA against BTC.
Generally, these slow ascents eventually result in acceleration. If this occurs, it is likely to pull other altcoins along.
However, keeping below the Daily 200MA (Purple) is crucial. BTC needs to remain above $94,000 to maintain the short-term upward structure."
With ETH losing $3,300 following BTC’s decline, we may not see altcoins positively diverging from this trend.
Significant Developments
The High Court’s tariff decision is expected next week, with statements from Fed members anticipated in the coming hours. Trump is scheduled to speak at two events; however, as he has already addressed tariff matters while de-escalating tensions with Iran, no surprises are expected. If tariffs are canceled, a 10% tax on all countries will be implemented, likely balanced by a short-term 15% additional tax authority, indicating a backup plan is ready.
Several key developments have occurred over the last 24 hours:
- •68% of the S&P 500 shares are now above their 200-day moving average, the strongest breadth since 2024.
- •State Street has launched a digital asset platform focusing on tokenized assets for institutions.
- •West Virginia proposed allowing up to 10% of state treasury funds to be invested in precious metals and large-cap crypto-assets.
- •Belgium’s KBC will offer BTC and ETH trading services via the Bolero platform under MiCAR.
- •Solana’s RWA ecosystem reached a new all-time high of $1.15 billion.
- •Crypto card volumes are growing at a 106% CAGR.
- •Uranium prices have jumped to their highest level since July 2024.