The cryptocurrency market begins 2025 on a bearish note with Bitcoin experiencing a significant drop, impacting altcoins. BTC dominance has risen, adding pressure.
Market Status and Bitcoin
As 2025 begins, Bitcoin has fallen from $102K to $91K and is currently stabilizing around $94K. Bitcoin dominance rose to 58.32%, putting pressure on altcoins.
Render (RENDER) Token Analysis
The RENDER token is retesting a breakout zone from a descending triangle on the daily chart. Its price has retraced from $9 to the critical support range of $6.56–$7.25, with a current price of $6.81. A successful rebound could push the price back to its recent high of $9, while a breakdown below $6.56 might lead to further declines.
Bittensor (TAO) Token Analysis
The TAO token has significantly corrected, dropping from its $748 high to the $400–$450 support range. It is currently trading around $411. Maintaining this support might mean a rebound to $590, but a break below $400 could lead to a deeper decline to $359.
The tokens RENDER and TAO are at critical support levels, and their future movements will depend on the ability to hold these zones. A rejection in Bitcoin dominance could provide a recovery opportunity for altcoins.
