Thursday's late trading session saw significant declines across the cryptocurrency market amid macroeconomic concerns and geopolitical tensions. Bitcoin (BTC) led the retreat with over 2.5% drop, briefly falling below $106,000 before partial recovery. Current data shows BTC/USDT trading around $107,704 within a narrow 24-hour range ($107,041–$107,723).
Altcoins suffered more severe losses, with major tokens like Ethereum (ETH), Solana (SOL), and Ripple (XRP) dropping 5–7% during peak selling pressure. This risk-off sentiment originated from geopolitical anxieties after President Trump hinted at new tariffs and commented on escalating Middle East tensions, stating "something will likely happen" regarding potential Israeli strikes. While traditional equities closed mildly higher, crypto markets couldn't escape bearish pressure.
Bitcoin Price Analysis: Key Levels to Watch
Recent price action highlights BTC's critical support and resistance zones:
- Support: The $105,900–$106,000 zone held as a psychological and technical floor. While rebounding above $107,000 shows short-term positivity, light trading volume suggests weak buyer conviction.
- Resistance: Immediate ceiling lies at $108,500 (24-hour high in BTC/USDC pair).
Market fragility persists, with traders monitoring macroeconomic catalysts. Surprisingly weak U.S. data (including disappointing PPI and jobless claims) could force Fed dovishness—typically bullish for crypto. However, geopolitical risks currently dominate short-term sentiment.
Altcoin Bloodbath: ETH and SOL Test Support Levels
Ethereum dipped to $2,421 before recovering slightly to $2,443, making the $2,420 zone crucial support. Notably, ETH/BTC gained 0.53%, suggesting rotational buying into ETH as a crypto safe haven.
Solana tested $146 support before rebounding above $150, with SOL/BTC rising 2.3%—indicating relative strength despite market-wide declines. Conversely, XRP struggled to recover, hovering near $2.18.
👉 Why are altcoins more volatile than Bitcoin?
Trump's Pro-Crypto Stance Offers Long-Term Optimism
Contrasting short-term恐慌, President Trump's Coinbase summit remarks signaled potential regulatory progress:
- Pledged "clear, concise market frameworks" for digital assets
- Highlighted support for the GENIUS Act (stablecoin regulation)
- Referenced plans for a "U.S. Strategic Bitcoin Reserve"
Industry leaders like Coinbase's Brian Armstrong welcomed these developments. This regulatory clarity narrative balances current geopolitical bearishness, creating strategic opportunities for traders.
Frequently Asked Questions
Q: What caused today's crypto market drop?
A: Combined macroeconomic worries and geopolitical tensions triggered risk-off sentiment, exacerbated by Trump's tariff/中东 comments.
Q: Is Bitcoin's $106,000 level strong support?
A: Initial tests show resilience, but sustained breaches could target $100k next. Monitor trading volume for confirmation.
Q: Which altcoins show relative strength?
A: ETH and SOL demonstrated better BTC-pair performance despite USD-price declines, suggesting selective capital rotation.