Crypto Prices Dip Following White House Summit
After President Donald Trump’s White House industry summit, cryptocurrency prices took a hit. Bitcoin’s value slid from $93,000 to $86,000. other altcoins, including Ethereum, Solana, and Ripple, also saw a 1% drop. This decline aligns with crypto.news’ pre-summit forecast.
Bitcoin’s retreat mirrors the U.S. stock market’s performance. The Nasdaq 100, which tracks major tech stocks, is now below its 200-day moving average. This index is showing signs of a technical correction. A double-top pattern at $22,137 suggests a potential 10% drop. The Nasdaq 100’s fall below its 200-day moving average signals a bearish trend. A narrowing gap between the 200- and 50-day moving averages hints at a possible ‘death cross,’ a bearish signal. If this happens, a further decline is highly likely. The S&P 500 and Dow Jones have also fallen recently. Thes indices’ weakness could drag crypto prices down.
Key points:
- Bitcoin,Ethereum,and other altcoins are under pressure.
- Stagflation fears and tariff uncertainties are adding to the gloom.
Bitcoin, Ethereum, and XRP are at risk.Bitcoin’s double-top at $108,400 could lead to a slide to $73,550. Ethereum, near $2,000, faces a similar fate. XRP’s head-and-shoulders pattern hints at a strong bearish move unless it breaks above $3.
Bitcoin’s double-top at $108,400 signals a bearish outlook. A death cross looms as the 200-day moving average weakens.
Stagflation fears and tariff worries are key factors. Companies may hike prices to cover tariff costs, boosting inflation. This could push Bitcoin to $73,550. Ethereum might drop below $1,500. XRP’s head-and-shoulders pattern suggests a bearish breakout. If it breaks the right shoulder at $3, a drop is imminent.The S&P 500’s 6.3% year-to-date drop reflects economic concerns. The S&P 500’s 6.3% dip from its yearly high is worrying. The correlation between stocks and crypto is clear. If stocks fall, crypto could follow. Investors should watch these levels closely.
Stagflation risks and tariff impacts are key drivers. Companies may raise prices,fueling inflation. This could hurt risk assets like crypto.
investors should monitor these levels. A death cross could trigger more losses. the S&P 500’s 6.3% fall from its peak adds to the bearish sentiment. The S&P 500’s 6.3% drop from its yearly high is a red flag. The S&P 500’s 6.3% fall from its yearly high is concerning. Tariffs may cause price hikes, worsening inflation. This could dampen risk appetite, affecting Bitcoin and altcoins.
Bitcoin’s drop from its yearly high is a warning. Tariffs may cause price hikes, hurting risk assets. The S&P 500’s 6.3% drop from its yearly high is a bearish sign. tariffs may cause price hikes,fueling inflation. This could dampen risk appetite, affecting Bitcoin and altcoins.
