Why Are Crypto Prices Facing Major Struggles?

As of the latest updates, Bitcoin (BTC) has seen its price hover around $96,680, continuing to experience selling pressure despite some potentially positive market developments. The situation remains even more dire for altcoins, which have been heavily impacted by recent market dynamics. A notable shift occurred when Trump withdrew liquidity from altcoins to his own token just prior to taking office, contributing to significant losses in a short time frame.

What Are the Impacts of Trump on Altcoins?

While Trump has taken actions that might support crypto values long-term, recent events have initiated a chain reaction that has led to unexpected drops in altcoin values. This scenario has left many traders bewildered, especially with coins like Shiba experiencing significant downturns.

How Are Major Coins Performing?

Shiba Coin recently saw its price dip to a support level of $0.00001261, losing daily gains due to Bitcoin’s downturn. If selling pressure continues, it could revisit these lows, raising the stakes for investors to monitor closely. Meanwhile, TRUMP Coin is struggling to maintain a foothold above $16.6 after a steep 76% drop since its Binance listing, indicating a challenging road ahead for its recovery.

• Bitcoin is currently at $96,680, facing ongoing selling pressure.
• Shiba Coin’s support level could be threatened if downward trends persist.
• TRUMP Coin needs to close above $22.8 to show signs of recovery.
• SOL Coin remains significantly below its all-time high, prompting caution among investors.

With concerns about further declines circulating online, many investors in altcoins are approaching the market with caution. As Bitcoin’s price wavers, the implications for various altcoins remain uncertain, indicating a challenging landscape for crypto enthusiasts.