Currently, the cryptocurrency market is experiencing significant fluctuations, highlighted by tariff negotiations and JOLTS data. Major analysts are predicting possible price declines.
Overview of the Cryptocurrency Market
As of the preparation of this article, the price of Bitcoin (BTC) stands at around $105,800. Recently, it was revealed that the European Union is taking a firmer stance in tariff negotiations with the US. The EU Trade Commissioner is preparing to meet in the US with instructions to maintain a strong position. The JOLTS data exceeding expectations also signals negative implications for cryptocurrencies.
Price Predictions for Bitcoin
Many analysts are discussing Bitcoin's potential testing of the $100,000 level. Known for his bullish forecasts, analyst Jelle notes a slight pullback is expected before the possible upward movement in Bitcoin's price. 'Bitcoin follows its classic pattern of movement thus far, with a bit more pullback before rebounding upwards. The move to $105,000, followed by a breakout, is within expectations,' he states.
Analysis of Other Cryptocurrencies
Analyst Poppe predicts a decline followed by a rise in SEI Coin. 'SEI wants to continue rising, but it needs to establish a higher low first,' he adds.
Currently, the market is experiencing both bullish and bearish predictions across various cryptocurrencies. The future of the market depends on the outcomes of tariff agreements and the overall economic situation.
