Crypto Price Analysis 4-11: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, RIPPLE: XRP, ALGORAND: ALGO, CHAINLINK: LINK, NEAR PROTOCOL: NEAR
The crypto market lost momentum over the past 24 hours, as cryptocurrencies, including Bitcoin (BTC), registered notable declines. As a result, the crypto market cap shrunk by just over 1%, falling to $2.58 trillion. BTC, which was struggling to stay above the $80,000 mark as momentum waned, dipped to a low of $78,705 before recovering and reclaiming $80,000.
The flagship cryptocurrency is currently trading just under the $81,000 mark. Ethereum (ETH) also lost momentum after moving past $1,600 and fell to a low of $1,485 as selling pressure intensified before rebounding to reclaim $1,500 and move to its current level. Meanwhile, Ripple (XRP) fell to a low of $1.93 on Thursday before recovering to reclaim $2.
Markets saw a mixed performance over the past 24 hours, with some altcoins trading in the green while others traded in the red. Solana (SOL) is trading at $116, up almost 2%, while Dogecoin (DOGE) is up nearly 1% at $0.157. Cardano (ADA) is up 1.10%, while Chainlink (LINK) is also marginally up over the past 24 hours. Hedera (HBAR), Stellar (XLM), and Litecoin (LTC) also registered notable increases. However, Polkadot (DOT) and Toncoin (TON) registered notable declines.
Kaiko Report Highlights Q1 Difficulties
Bitcoin (BTC) and other assets faced significant headwinds in Q1 2025 as global economic tensions and turmoil registered a marked increase. The year started positively, driven by market optimism about Donald Trumps return to office and a supportive macroeconomic environment. However, markets soon began struggling with a significant drop in trading volume as investors retreated. According to a report by Kaiko, tariffs introduced by the Trump administration have contributed to the markets increased volatility and the risk-off sentiment among investors.
BTC, which rallied to record-breaking highs in January, is down over 25% from its peak. Meanwhile, Ethereum and other altcoins also saw declines after peaking in January, with AI tokens and meme coins posting average losses of over 50%. Weekly trading volumes for BTC, ETH, and other altcoins averaged $266 billion, down 30% from levels seen in 2024. The Kaiko report attributed the decline to a drop in offshore exchange activity and traders reducing exposure thanks to rapid market swings and uncertainty.
The report also noted that US-based crypto exchanges maintained robust market depth despite selloffs, helping buffer the impact on Bitcoins liquidity. According to the report, platforms like Coinbase, Kraken, and CEX.IO collectively made up 60% of BTCs market depth in Q1. As a result, BTC could outperform several altcoins that were dealing with reduced demand and liquidity. The report also noted that such an environment favored large-cap assets, further highlighting BTC's resilience.
Altcoin volatility surged in early 2025, reaching multi-year or all-time highs for certain tokens, notably Cardanos ADA. Bitcoins volatility also rose, from 34% in February to 51% in March, though it stayed below the peaks observed during last Augusts carry trade unwinding. The growing volatility gap between Bitcoin and altcoins may discourage risk-averse traders from entering the market in the near future.
Trump Admits Tariff Problems
President Donald Trump acknowledged that his tariff policy changes would be problematic but added that he pursued them because no one else had addressed the issues. Trump defended his trade strategy during a cabinet meeting, arguing it was a necessary correction despite the short-term strain.
The transition is difficult, but the end result will be positive.
President Trump has also not ruled out extending the 90-day pause on his reciprocal tariffs, stating that if he cannot secure favorable deals with US trading partners, tariffs will revert to higher rates after the pause. Trumps remarks come amid growing concern among policymakers. Chicago Federal Reserve Bank President Austan Goolsbee has gone as far as to express concern about a return to economic conditions last seen during the COVID-19 pandemic. Goolsbee warned that setbacks in investor sentiment could create broader risks for the economy.
President Trump Removes Controversial Biden-Era IRS Rule
President Donald Trump has signed a resolution that removes a controversial Biden-era IRS rule, approved towards the end of the Biden administration. The rule required DeFi platforms to track and report user activity and details, similar to traditional brokers. Republican Senators Ted Cruz of Texas and Mike Carey of Ohio introduced a joint resolution to overturn the Internal Revenue Service rule, passed in December. Carey, who attended the resolution's signing on Thursday, said it was the first-ever crypto bill to be signed into law.
By repealing this misguided rule, President Trump and Congress have given the IRS an opportunity to return its focus to the duties and obligations it already owes to American taxpayers instead of creating a new series of bureaucratic hurdles.
The resolution also marks the first time a pro-crypto effort has cleared Congress. Both the Senate and the House of Representatives agreed to reverse the IRS action with strong bipartisan support, highlighting the sectors strength in this Congress. This could be a positive sign for the industry as it increases the chances with more crucial matters, including legislation to regulate stablecoin issuers.
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) has posted a marginal recovery after dropping below $80,000 on Thursday, falling to a low of $78,452 before settling at $79,592. The flagship cryptocurrency lost momentum after reaching $82,743 on Thursday, falling to move past the 20-day SMA. However, analysts remain uncertain about BTCs trajectory thanks to market volatility driven by President Trumps tariffs. While tariffs have been paused for 90 days, markets remain jittery thanks to several previous flip-flops on tariffs. Alexander Kuptsikevich, Senior Market Analyst at FxPro, stated,
Bitcoin (BTC) has temporarily recovered to $80,000, but the medium to long-term trend reversal remains uncertain. Bitcoin is currently approaching the upper end of the downtrend and is being tested to see if it can break out of the correction trend that has continued for the past two months.
Another analyst has suggested that if BTC breaks past $84,000, it could surge to the next resistance zone around $96,000. According to CryptoQuant analysis, BTC must reclaim $85,000 for bullish sentiment to return.
Bitcoin may face resistance at the $84,000 level. If it breaks through this resistance line, it could surge to the next resistance zone of $96,000. This price range initially acted as a support line at the beginning of this bull market, but if the upward trend slows, it could turn into a resistance line. The same pattern was repeated in past bear markets.
BTC registered a sharp jump last Tuesday, surging to an intraday high of $88,624 on Wednesday as bullish sentiment intensified. However, it lost momentum after reaching this level and dropped over 3%, slipping below the 20-day SMA and $85,000 and settling at $82,525. The price recovered on Thursday, registering an increase of 0.82%. Buyers retained control on Friday as the price registered a rise of 0.76% and settled at $83,828. However, price action turned bearish over the weekend, with the price registering a marginal decline on Saturday. Selling pressure registered a substantial increase on Sunday as BTC plunged over 6%, slipping below $80,000 and settling at $78,301.
Source: TradingView
The price faced volatility on Monday after rumors about a tariff pause, falling to a low of $74,393 before surging past $80,000 and then dropping to settle at $79,164, ultimately registering an increase of 1.10%. The flagship cryptocurrency was back in the red on Tuesday, falling almost 4% and settling at $76,284. Markets rallied Wednesday after President Trump announced a 90-day pause on reciprocal tariffs. As a result, BTC surged over 8% to reclaim $80,000 and settle at $82,593. However, the rally lost momentum on Thursday as the price fell almost 4%, slipping below $80,000 and settling at $79,592. The current session sees BTC up over 3% as buyers look to build momentum and push towards $85,000.
Ethereum (ETH) Price Analysis
Ethereum (ETH) has recovered after dropping below $1,500 on Thursday as selling pressure wiped out significant gains made on Wednesday. ETH has struggled in recent months, losing key support levels and slipping below moving averages. However, one analyst believes ETH is due for a relief rally as it approaches a critical demand zone that historically marked market bottoms, offering strong buying opportunities. According to the analyst, ETH is approaching the -1 standard deviation pricing band based on Market Value to Realized Value (MVRV) Extreme Deviation Pricing Bands. The analyst stated that the -1 standard deviation pricing band is around $1,387, while ETHs realized price is around $2,005. According to the analyst, the last time ETH touched this level, it marked a local bottom.
ETH has struggled in recent sessions, with price action remaining bearish. ETH registered a sharp increase last Tuesday but lost momentum after crossing $1,900, dropping almost 6% on Wednesday and settling at $1,794. The price recovered on Thursday, registering an increase of 1.26% before registering a marginal drop on Friday and settling at $1,816. Sellers retained control on Saturday as ETH registered another marginal decline and settled at $1,805. Bearish sentiment intensified on Sunday as ETH plunged 12.50% and dropped to $1,580.
Source: TradingView
Selling pressure intensified on Monday as ETH plunged to a low of $1,412. However, it rebounded from this level to reclaim $1,500 and settle at $1,552, ultimately registering a drop of almost 2%. Sellers retained control on Tuesday as the price fell over 5%, slipping below $1,500 and settling at $1,472. The crypto market rallied Wednesday after Donald Trump issued a 90-day tariff pause. As a result, ETH surged over 13% and settled at $1,668. However, the rally lost momentum on Thursday as ETH fell almost 9% to $1,521. The current session sees ETH up over 2% as it looks to move past $1,600.
Solana (SOL) Price Analysis
Solana (SOL) registered a sharp decline last Wednesday after reaching an intraday high of $135. The price lost momentum after reaching this level and dropped over 7%, slipping below $120 and settling at $117. Price action remained bearish on Thursday as SOL registered a marginal decline. However, it recovered on Friday, registering an increase of almost 5% to reclaim $120 and settle at $122. Sellers returned to the market over the weekend as SOL fell nearly 2% on Saturday before plunging over 12% on Sunday and settling at $105.
Source: TradingView
Selling pressure persisted on Monday as SOL dropped below $100, falling to an intraday low of $95. However, it rebounded from this level to reclaim $100 and settle at $106. SOL registered a decline on Tuesday, falling almost 2% before surging nearly 13% on Wednesday as markets rallied and settled at $118. SOLs rally lost momentum on Thursday as the price fell over 5% to $112. The current session sees SOL up over 5% and trading at $118 as buyers look to reclaim $120.
Ripple (XRP) Price Analysis
Ripples (XRP) price action has been bearish since it lost the crucial $2 level. However, it recovered over the past few sessions to reclaim $2, with buyers looking to push the price higher. XRP registered a steep decline on Wednesday, falling over 5% to $2.02. It recovered on Thursday, registering an increase of 1.99%, and continued its upward trajectory on Friday, rising over 3% and settling at $2.12. Buyers retained control on Saturday, with the price registering a marginal increase. However, sentiment changed on Sunday as XRP plunged over 10%, slipping below $2 and settling at $1.92.
Source: TradingView
Selling pressure intensified on Monday as XRP fell to a low of $1.61. It rebounded from this level to settle at $1.89, ultimately registering a drop of 1.23%. Sellers retained control on Tuesday as XRP fell 5.45%, dropping below the 200-day SMA and settling at $1.79. Markets rallied on Wednesday after the tariff pause, and XRP surged over 14%, moving past the 200-day SMA to reclaim $2 and settle at $2.05. However, XRP lost momentum on Thursday, dropping over 4%, slipping below $2 and settling at $1.96. The current session sees XRP up almost 3%, having reclaimed $2 and trading at $2.02.
Algorand (ALGO) Price Analysis
Algorand (ALGO) is struggling to move past the 20-day SMA, with selling pressure preventing a decisive move past $0.190. ALGO registered a substantial drop on Wednesday before recovering on Thursday to register an increase of over 2% and settle at $0.180. Buyers retained control on Friday as the price rose almost 3% to $0.185. However, ALGO was back in the red on Saturday, dropping nearly 1% to $0.183. Selling pressure intensified on Sunday as ALGO fell over 12% and settled at $0.161.
Source: TradingView
Buyers returned to the market on Monday as the price registered an increase of 3.52% and settled at $0.167. ALGO was back in the red on Tuesday, falling over 7% and settling at $0.154 before rallying almost 17% on Wednesday and settling at $0.180. ALGO lost momentum on Thursday, with the price registering a drop of over 2% and settling at $0.176. The current session sees ALGO up almost 4% and trading around $0.183 as buyers look to move past the 20-day SMA.
Chainlink (LINK) Price Analysis
Chainlink (LINK) is attempting a recovery after Wednesdays rally as buyers look to reclaim $13 and push above the 20-day SMA. LINK plunged over 8% on Wednesday, slipping below $13 and settling at $12.89. Price action remained muted on Thursday as LINK registered a marginal decline before registering a marginal increase on Friday and settling at $12.93. However, bearish sentiment returned over the weekend, with the price registering a drop of almost 1% on Saturday and settling at $12.84. LINK plunged over 12% on Sunday as markets tanked, slipping below $12 and settling at $11.28.
Source: TradingView
LINK plunged to a low of $10.11 on Monday as selling pressure persisted. However, it rebounded from this level to reclaim $11 and settle at $11.44, ultimately registering an increase of 1.39%. However, the price was back in the red on Tuesday, dropping 4.49%, slipping below $11 and settling at $10.92. LINK rallied on Wednesday, rising almost 16% to move past $12 and settling at $12.65, but fell on Thursday, dropping nearly 5% to $12.06. The current session sees LINK up over 4% and trading at $12.57, with buyers firmly in control.
NEAR Protocol (NEAR) Price Analysis
NEAR Protocol (NEAR) has traded primarily in the red since the weekend, starting with a marginal drop on Friday. Sellers retained control on Saturday as the price fell 2.50% to $2.44. Bearish sentiment registered a substantial uptick on Sunday as the price fell almost 12% and settled at $2.15. NEAR experienced volatility on Monday as buyers and sellers struggled to establish control. Sellers ultimately gained the upper hand, with the price dropping almost 2% to $2.12.
Source: TradingView
Selling pressure intensified on Tuesday as NEAR fell over 10%, slipping below $2 and settling at $1.90. However, the price rebounded on Wednesday, rising 10.24% to reclaim $2 and settle at $2.10. Sellers returned to the market on Wednesday as NEAR fell almost 5% to 2. The price recovered during the current session and is up nearly 3%, trading at $2.06.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Text source: Crypto Daily™
