Crypto Market Update – Volatility Rising, Key Support Holding
The market opened this week with high volatility and volume, but not all of it bullish. Bitcoin (BTC) is currently testing key support between $93,600 and $93,000, after rejecting from a fair value gap earlier today.
Despite strong equities (S&P 500, Russell 2000) and rising gold prices amid global unrest, BTC’s failure to respect support raises caution. Coinbase BTC is also trading at a discount, unlike last week, which suggests waning bullish sentiment.
Bitcoin (BTC) Strategy:
Entry Zone: $93,200 – $93,600 (support region)
Target: $95,400 (imbalance fill) – $100,000 (range high if momentum returns)
Stop Loss: Below $92,800 (to manage downside risk)
Bias: Short-term cautious, but potential bullish continuation if support holds and equities remain strong.
Altcoin Highlights:
XRP:
Weak structure, mirroring BTC
Support: 2.05 USDT
Bearish short-term, neutral to mildly bullish if support holds and news remains stable
SUI (SUI):
Rejection from $3.44; failed to reclaim
Expected Drop: To $3.05 unless price regains $3.44 with volume
Solana (SOL):
Barely holding $153.5
If broken: Likely fall to $136
No strong volume support, momentum needed fast
Party (PRTY):
High volume, but already rallied hard
Wait for pullback + reaction at support before entering
Verasity (VRA):
Attempting a higher timeframe breakout
Potential opportunity regardless of market conditions
Watch for breakout above local resistance
Market Warning:
If S&P 500 retraces or global unrest escalates, crypto could follow with deeper corrections.
Watch gold prices, VIX (volatility index), and BTC-Coinbase premiums closely.
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Conclusion:
The crypto market shows signs of fragility despite macro support from equities. Short-term caution is advised. Entries near support zones can be considered, but always pair with tight stop-losses and close monitoring of global sentiment.
