Bitcoin's price has dropped below the critical $117,000 mark, indicating upcoming bearish sentiment. In light of anticipations for Trump’s statements, the market remains unstable.
Decline in Cryptocurrency Market
The recent drop in Bitcoin's price to $116,803 signals negative investor sentiment. The ETH/BTC pair has lost the 0.038 level, indicating potential for further losses. The price of Ethereum has fallen below $4,400 following the release of a negative Producer Price Index report, further impacting market sentiment.
Expectations from Trump
Trump's meeting with Putin is taking place in Alaska, with expectations of outcomes different from previous summits. A concrete timeline for a potential agreement is anticipated. Trump stated, 'If the meeting with Putin doesn’t go well, I will walk away. I want a truce and won’t be happy if it doesn’t happen today.'
Analysis and Forecasts
Despite the downturn, analyst Jelle remains optimistic, noting, 'The CME gap is filled, range lows are being retested, and everyone is panicking, all while Bitcoin is trading just under 6% from its all-time high. Stay calm.' The increasing queue for ETH staking exits, exceeding 355,000 ETH, also indicates a desire among long-term investors to sell.
The cryptocurrency market remains under significant pressure, and upcoming statements from Trump could have a substantial impact on asset prices. Investors are continuing to monitor the evolving situation.
