$TRUMP “Very likely there would be a slump afterwards,” says crypto analyst Noelle Acheson, formerly of crypto brokerage Genesis.
Even as the price of TRUMP rose after the announcement, sophisticated crypto investors with a track record of profitability—so-called smart money traders—sold their stakes in the coin, according to Nansen. “Smart money isn’t interested in the TRUMP token, I can tell you that,” says Nicolai Søndergaard, research analyst at Nansen.
When Trump first announced his memecoin, days before the inauguration, critics accused the incoming president of embarking on a money-grab at the expense of his regular supporters. Others worried that the coin could act as a vector for bribery; by investing large sums into the coin, driving up its price, politically motivated actors could in theory curry favor with the president surreptitiously.
Bitcoin price faced multiple rejections around its 200-day Exponential Moving Average (EMA) at $85,000 since April 13. BTC finally broke above this resistance level on Monday, rising 9.7% to close above $90,000. It continued rising and faced resistance around the $95,000 on Wednesday. At the time of writing on Thursday, it faces a mild correction and trades near $92,000.
If BTC continues its pullback, it could extend the decline to find support around the $90,000 psychological importance level.
The Relative Strength Index (RSI) on the daily chart reads 63 after being rejected around its overbought level of 70 on Wednesday, indicating fading bullish momentum. If the RSI falls below its neutral level of 50, Bitcoin’s price could experience a sharp decline
#BTCvsMarkets Bitcoin is a groundbreaking digital payment system that lets people send money directly to each other without needing banks or middlemen.
Think of it like digital cash that works over the internet, but with special security features that prevent people from copying or double-spending the money.
It solves a major problem in digital payments by creating a secure, decentralized way to track transactions that everyone can trust.
Since its launch in 2009, Bitcoin has grown into a global financial phenomenon, with millions of users and widespread institutional adoption.
A market rebound refers to a period of recovery in the financial markets following a decline or downturn. This rebound can occur after a correction, a bear market, or any significant sell-off. It is characterized by rising prices, increased investor confidence, and improved economic indicators. Market rebounds are often driven by a combination of factors, including better-than-expected earnings reports, positive economic data, government stimulus, or shifts in investor sentiment.
Investors typically view rebounds as opportunities to regain losses or enter the market at more favorable prices. However, it's important to distinguish between a short-term bounce and a sustainable long-term recovery. Analysts look at trading volume, fundamentals, and technical indicators to evaluate the strength of a rebound.
$ETH Ethereum (ETH) is expected to maintain a strong position in the crypto market due to its role as the leading smart contract platform and its continued upgrades. With Ethereum 2.0 fully implemented, the network is now more energy-efficient and scalable thanks to the shift from proof-of-work to proof-of-stake. This has made ETH more appealing to institutional investors and environmentally conscious users. The growth of decentralized finance (DeFi), NFTs, and layer-2 solutions like Optimism and Arbitrum also contribute to increased demand for ETH, as it's required for gas fees on the Ethereum network. If Ethereum continues to dominate in these areas and developers keep building on the platform, the long-term outlook for ETH remains bullish.
$ETH Ethereum (ETH) is expected to maintain a strong position in the crypto market due to its role as the leading smart contract platform and its continued upgrades. With Ethereum 2.0 fully implemented, the network is now more energy-efficient and scalable thanks to the shift from proof-of-work to proof-of-stake. This has made ETH more appealing to institutional investors and environmentally conscious users. The growth of decentralized finance (DeFi), NFTs, and layer-2 solutions like Optimism and Arbitrum also contribute to increased demand for ETH, as it's required for gas fees on the Ethereum network. If Ethereum continues to dominate in these areas and developers keep building on the platform, the long-term outlook for ETH remains bullish.