The crypto market endured a challenging day, witnessing widespread declines impacting Bitcoin and the industry at large. What triggered this drop ? Let's delve into the key dynamics shaping the current price trend.
The crypto market capitalization has plunged by $71 billion in 24 hours, falling to $3.85 trillion. This decline is linked to the uncertainty arising from the Trump-Putin meeting in Alaska, which intensified investors’ risk aversion.
This reaction demonstrates cryptocurrencies’ high sensitivity to geopolitical events. When confidence weakens, digital assets dive. Bitcoin has triggered a widespread correction, significantly impacting altcoins.
Bitcoin slipped below $115,500, but is attempting to hold its major support at $115,000. The RSI index, now below 50, confirms a bullish exhaustion and increases investor caution.
If selling pressure persists, BTC could plunge toward $112,256. However, a rebound from $115,000 would offer an opportunity to retest $117,261, then target $120,000 as a new objective.
While the crypto market plunges, Chainlink (LINK) shows growth of +9% in 24h, reaching $24.65. This performance demonstrates investor confidence in its fundamentals. The Parabolic SAR indicator, positioned below the candles, confirms a solid bullish trend.
If momentum continues, LINK could break through $26.73 and quickly target $30. However, a bearish reversal would push the asset back toward supports at $22.63 and then $19.88, challenging short-term optimism.
The recent crypto market drop reflects the natural volatility of a sector still maturing. While this correction may be concerning, it’s essential to maintain a long-term vision and not give in to emotion.
The fundamentals remain solid with increasing adoption and resilient projects like Chainlink, which prove the ecosystem’s strength. Cycles of rises and falls are integral to the market: Patient investors will know how to capitalize on upcoming opportunities.
Passionate about cryptocurrencies since 2019, I cover the latest news through clear and accessible articles. My goal is to make crypto understandable for everyone, with reliable and well-researched content.
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