Recent events have put significant pressure on the Bitcoin price, which has dropped below $111,000. The worsening economic situation and fines against major companies contribute to market uncertainty.
Bitcoin Price and Stability
The Bitcoin price, confirmed by a decrease in interest rates following a disappointing employment report, has fallen below $111,000. Bitcoin struggles to maintain support at the $112,500 level, which is not providing a positive impetus to start the weekend.
Analysis of Current Market Trends
There are numerous negative factors affecting the cryptocurrency market. Anticipating interest rate cuts and Trump's removal of Fed member Cook raises questions about the independence of the Federal Reserve System. Analyst DaanCrypto emphasizes that investor hopes are not yet exhausted and that we are in a testing phase of the market.
Situation in the Altcoin Market
In the altcoin market, Cardano (ADA) stands out, having found buyers at the $0.83 level despite the drop in Bitcoin prices. Analyst Ali Martinez suggests that Cardano may enter a phase of positive divergence and notes a probable breakout from the falling wedge pattern targeting $0.94.
The escalating economic situation and negative developments in major companies increase uncertainty in the cryptocurrency market, with investors focusing on current trends and opportunities in the altcoin market.
