Saturday, February 24, 2024

Price analysis 5/25: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Bitcoin (BTC) has been struggling to maintain above $30,800 since Could 16, suggesting that demand dries up at greater ranges. Equally, US fairness markets haven’t ceased to say no resulting from uncertainty concerning the variety of charge hikes that can be wanted to convey inflation underneath management.

Because the crypto bear market deepens, analysts have gotten additional bearish on their projections for the extent of the autumn. Dealer and analyst Rekt Capital mentioned that Bitcoin could possibly be vulnerable to falling to $19,000 to $15,500 earlier than a backside is fashioned.

Each day cryptocurrency market efficiency. Supply: Coin360

Nonetheless, Arcane Analysis not too long ago identified that purchasing when Bitcoin’s Worry and Greed Index reaches a rating of 8 had resulted in a median median 30-day return of 28.72%. Curiously, the index hit 8 on Could 17.

Might Bitcoin slide additional and pull altcoins decrease or is it time for a restoration? Let’s examine the charts of the top-10 cryptocurrencies to search out out.