The cryptocurrency market, particularly Ethereum and Bitcoin, faces new challenges as EU sanctions approach. Analysts share their forecasts on how this may impact the market.
Potential Altcoin Drop
Currently, Ethereum is trading at $3,600, while Bitcoin stands at $117,800. Market analysts warn of a possible decline in altcoins if Bitcoin falls to around $116,000. Analyst Navarro emphasizes the need for skepticism regarding rumors of a potential EU-US deal, which could negatively affect cryptocurrencies. Altcoins like XRP Coin have already reported losses of around 10%.
Evaluating Bitcoin’s Peak Potential
Is there a possibility that Bitcoin will reach peaks similar to those in 2017 and 2021? Analyst Kyle argues that despite a potential rise to $120,000, trading volumes are declining, which may signal an impending drop. However, major players are still holding their assets, indicating a cautious market expectation.
Situation with DeFi Altcoins
Analyst TraderLeevis makes a bearish prediction for the popular DeFi altcoin AAVE, which may test the $275 level. During bullish markets, bearish forecasts are often overlooked, but such analyses become particularly relevant for investors during heightened risk periods.
The cryptocurrency market faces uncertainty, with investor expectations remaining mixed. Given the potential EU sanctions and price decline forecasts, many analysts recommend caution and close monitoring of market developments.
