$ETH was trading above $2,600, while $DOGE was trading around 24 cents. $XRP , BNB (BNB Chain), ADA (Cardano), and SOL (Solana) gained between 3% and 5%.
Despite rising prices for major altcoins, cryptocurrency traders are beginning to feel the weight of macroeconomic markets and are warning against short-term profit-taking. The strengthening dollar and renewed trade tensions are dampening momentum, even as Bitcoin nears record highs.
"The dollar's appreciation following the tariff announcements naturally weighed on cryptocurrencies," Alex Kuptsikevich, chief market analyst at FxPro, explained in an email to CoinDesk. "This is especially true as Bitcoin is near its all-time highs, reinforcing the appeal of short-term profit-taking after rallying in just over a month."
As global markets shift from protectionism to cautious optimism, Bitcoin remains in limbo. For some traders, the asset is once again caught between two contradictory narratives.
"Bitcoin remains torn between its identity as 'digital gold' and its function as a risk proxy," traders at Singapore-based QCP Capital said during a market broadcast. "This tension continues to cloud its directional conviction. As the macro narrative shifts from protectionism to renewed trade optimism, Bitcoin could remain range-bound."
Sentiment remains strong, however. The widely followed Fear and Greed Index has held steady above 70 for four consecutive days—a level of greed typically associated with sustained short-term bullish appetite.
"Bitcoin showed its unpredictability on Monday," added Kuptsikevich. "But with this positivity continuing, it's worth paying attention to price dynamics around $105." #TrumpTariffs #NewsTrade #CryptoCPIWatch
ETHEREUM $ETH and Dogecoin $DOGE led the major gains on Wednesday with a jump of 9% over the last 24 hours, extending a bullish streak that saw both tokens gain double digits over the last week.
Whales $BTC are accumulating, while retail is lagging behind. The current rise of Bitcoin keeps it above $100,000, a sign of investor confidence. The $BTC is now trading at $103,527, up 4.3% in 24 hours and 33% in a month. The market is currently lagging 5% from its January peak, but technical and on-chain signs indicate continued accumulation. This recent rise occurs amid economic uncertainty and geopolitical turbulence. Darkfost from CryptoQuant claims that the current market dynamics are similar to those from about five years ago, with extreme volatility and competing economic explanations. Central banks like the Federal Reserve have taken a cautious stance, but trade agreements and budget maneuvers have spurred investor interest in risk. Darkfost notes that the Bitcoin growth rate indicator has turned positive, with the $BTC recovering $100,000. The researcher states that the current characteristics of the market correspond to the June 2020 cycle, particularly the impact of external political events on asset movements. Recent trade discussions from the Trump administration and aggressive global policy are behind this rise. Quick reactions from the stock and cryptocurrency markets. Darkfost claims that this sentiment-influenced atmosphere makes price trend forecasts difficult using standard measures. News-driven narratives complicate matters.
TRUMP PROPOSE A 3-STEP PLAN TO STIMULATE THE ECONOMY: ✅ TARIFFS ✅ TAX CUTS ✅ DEREGULATION "WALL STREET THRIVING, THE #S&P 500% UP BY 5,500% SINCE 1980. AMERICA REMAINS ON TOP."