The cryptocurrency market is reducing its enthusiasm after significant recent gains. Bitcoin (BTC) is down more than 1%, although it remains above $92,000, according to Binance. On the other hand, Ethereum (ETH) experiences a less pronounced decline, staying near $1,800.
This correction also affects most altcoins, with declines exceeding 1% in tokens such as XRP, Binance Coin (BNB), Solana (SOL), Cardano (ADA), and Dogecoin (DOGE), with some cases reaching up to 4%. In contrast, SUI stands out with a 5% increase in the last 24 hours.
Profit taking occurs after a day marked by a new political twist from Donald Trump. The President of the United States surprised the markets by announcing that tariffs on China will be reduced “substantially,” and dismissed rumors about a possible dismissal of Federal Reserve Chairman Jerome Powell. These signals of stability were well received by investors and fostered a positive rebound in risk assets, including cryptocurrencies.
Market Analysis
Carolina Gama, Country Manager of Bitget in Argentina, interprets this movement as part of a broader change. “Bitcoin is approaching $94,000, driven by a powerful combination of macroeconomic and geopolitical factors,” she states. Alongside Trump's statements, there is a reconfiguration in global portfolios: “The narrative of BTC as a store of value is gaining strength, in a context where flows are leaving dollar-denominated assets and seeking refuge in gold and cryptocurrencies.”
Simultaneously, institutional confidence also reinforces market momentum. A consortium of more than $3 billion, led by Brandon Lutnick, in collaboration with SoftBank, Tether, and the CEX exchange, has been announced as a new investment vehicle in digital assets. Just in the last 24 hours, BTC received net inflows of $400 million, reflecting the growing interest in this asset class.
Although the market takes a breather after the initial surge, the backdrop of greater institutional legitimacy and moderate political signals could be laying the groundwork for a new phase of sustained growth in the crypto ecosystem.
#BinanceAlphaAlert #INitOnBinance
