Bitcoin’s Momentum Slows
Bitcoin (BTC) reached a high of $94,300 on Thursday but failed to maintain momentum, consolidating around $93,000. This pause follows a record-setting $917 million net inflow into U.S. spot Bitcoin ETFs on Wednesday, pushing the three-day total above $1.4 billion.FXStreet
However, with President Trump’s softened stance on China tariffs and hints at a potential 50% reduction, investors are reallocating funds back into U.S. equities, dampening BTC’s upward trajectory.FXStreet
Altcoin Market Sees Mixed Results
The global cryptocurrency market capitalization dipped below $3 trillion, marking a 3.5% decline over 24 hours. Despite the downturn, SUI and the Official Trump token defied the trend:FXStreet
- Official Trump Token: Surged 31.7% in 24 hours, trading at $12.39.FXStreet
- SUI: Posted a 3% gain, maintaining positive momentum.FXStreet
Conversely, Bitcoin and Ethereum experienced declines of 1.3% and 3.5%, respectively. Stablecoins like USDT and USDC held steady, indicating a flight to safety among investors.
Additional Crypto Developments
- Crypto Fraud Impact: The FBI reported that seniors lost $2.8 billion to crypto fraud in 2024, accounting for nearly 30% of the total $9.3 billion in losses.FXStreet
- RockawayX Fund: Closed a $125 million fund to invest in early-stage startups on the Solana blockchain, signaling continued VC interest despite a broader slowdown.FXStreet
- ZKsync Recovery: Recovered approximately $5 million in stolen tokens after a hacker accepted a 10% bounty offer, ensuring user funds remained secure.FXStreet
Conclusion
Bitcoin’s inability to break past $95,000 highlights the market’s sensitivity to macroeconomic developments, particularly U.S.-China trade relations. While some altcoins like SUI and the Official Trump token show resilience, the broader market remains cautious. Investors should stay informed and consider both technical indicators and geopolitical factors when making decisions.FXStreet
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry risks, and individuals should consult with financial advisors before making investment decisions.
