Bitcoin Holds at $84K as SOL Rises 6% Amid Fed Rate Cut Uncertainty
Crypto markets rebounded during Asian morning hours on Thursday after a previous sell-off. Federal Reserve Chair Jerome Powell indicated no imminent rate cuts, impacting global markets amid new U.S. tariffs.
- Bitcoin (BTC) rose 2%, approaching $84,500.
- Ether (ETH), XRP, dogecoin (DOGE), and BNB increased between 1%-3%; Solana’s SOL led with a 6% gain.
- Hyperliquid’s HYPE surged 8.5%, while Celestia’s TIA dropped 4% due to increased selling pressure.
- Powell emphasized the need for time to assess tariff effects on the economy, hinting at potential stagflation.
- Market analysts expect Bitcoin to trade between $80,000 - $90,000 until more clarity on tariffs and rate cuts is provided.
- Technical indicators suggest consolidation for SOL, with support around $126-$127 and resistance near $136.
- XRP shows volatility, testing critical support levels following recent price swings; strong resistance at $2.18-$2.24.
- ETH demonstrated significant volatility, forming a bearish pattern after failing to maintain momentum above $1,690.
SOL Price Analysis
- SOL surged 14.5% from $119.58 to $136.01, followed by a correction.
- Current support is around $126-$127; breaking below $125.67 may indicate further downside.
XRP Price Analysis
- XRP peaked at $2.24 after rising from $2.00 but retraced to $2.09.
- Key support between $2.08-$2.10; caution is advised as volumes decline.
ETH Price Analysis
- ETH showed a 7.8% volatility range between $1,546.87 and $1,666.50.
- Immediate resistance is at $1,625; key support established at $1,585-$1,590.