Key Takeaways:
Bitcoin remains sluggish around $83,000.
Investor sentiment is dull, with little excitement in the market.
Ethereum down 55%, Bitcoin down 23% from its peak.
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Bitcoin Stuck in Limbo Near $83,000
Bitcoin (BTC/USD) hovered near $83,000 on Monday morning, struggling to gain traction as traders showed little interest in making significant moves. The excitement surrounding Trump’s potential crypto-friendly policies has faded, leaving a more somber mood in the market.
Currently, Bitcoin has dropped 23% from its all-time high of $109,000 set in December. That officially marks a bear market, defined as a decline of at least 20% from recent highs.
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Trump’s Crypto Stance Falls Flat
Hopes for a crypto boom under Trump’s leadership have so far led to disappointment. Instead of delivering clear regulatory policies, White House AI and crypto advisor David Sacks used the first major crypto gala to heap praise on Trump, without outlining any concrete steps for industry progress.
That said, Trump’s crypto working group is still in action, with expectations that a regulatory framework could be unveiled in the coming months. If successful, it could provide clarity and attract new investment to the space.
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Market Outlook: Caution Ahead
From a technical perspective, Bitcoin has slipped below its 200-day moving average, signaling a potential long-term downtrend. If this level doesn’t hold, further declines could be in store, making traders wary of additional selling pressure.
Meanwhile, Ethereum (ETH/USD) has plummeted below $1,900, marking a staggering 55% drop from its December peak of $4,100. XRP (XRP/USD) has dipped to the $2.20–$2.30 range, and Solana (SOL/USD) has tumbled below $130.
With sentiment remaining weak and no immediate catalysts in sight, the crypto market could continue to face bearish headwinds in the near term.
Disclaimer
This article is for informational purposes only and should not be considered financial or investment advice. Cryptocurrency markets are highly volatile, and past performance is not indicative of future results. Always conduct your own research and consult with a professional financial advisor before making any investment decisions. The author and publisher are not responsible for any financial losses incurred based on the information provided in this article.
