Bitcoin $104,693 is currently stabilizing around $104,000, showing signs of recovery following a decline on Saturday. While Bitcoin manages to hold this ground, altcoins have faced significant struggles, as fear and panic have led to a severe downturn in their values. This trend is not unheard of, but what predictions are analysts making for Monday and the coming weeks?
Insights from Cryptocurrency Experts
CAPO, a prominent analyst from 2022, holds a rather cautious outlook for the future. His analysis of Solana $154 ( SOL ) brings attention to repeated tests of resistance and support levels around $170, suggesting a potential capitulation. Should this prediction hold true, it could lead to SOL Coin revisiting the $60-80 range in the near future.
For SOL Coin, hitting the $60-80 range could mean reaching all-time lows for several altcoins that have struggled to distance themselves from last year’s bottom levels. CAPO is not hopeful for June, given these circumstances and the broader market sentiment.
CAPO’s outlook suggests a doomsday scenario for this month. In contrast, what does Sherpa have to say?
Sherpa observes that the current price action doesn’t favor a bottom in altcoins. There’s a need to see recent lows holding firm, and while a few wicks may form as buyers emerge, they alone may not inspire confidence in a solid recovery.
DaanCrypto, another analyst, attributes the decline to a weak monthly closure. He anticipates noticeable market fluctuations as we approach summer, forecasting that the market will open close to the CME closure on Monday.
June Predictions
The primary focus in June is on tariffs, with expectations of increased volatility by mid-month as the July 9 deadline looms. Observations suggest that Trump’s tone could intensify as the deadline nears, evident from his past week’s remarks towards the EU and China.
A detail that remains under-discussed is the UK’s contentment with its agreement while China’s ambitions for alliances outside the US seem dashed. Despite legal challenges to tariffs, entities like the EU recognize that Trump could still leverage other tools to apply pressure, while tariffs silently but meaningfully impact China.
Consequently, a global trade war is unlikely. Instead, expect a flurry of signed agreements leading to alternative resolutions and partnerships as nations rush to ink deals to reduce market angst. With the US pressing China to engage globally and boost its consumer market, coupled with the EU’s readiness to increase imports, the market’s prevailing dark clouds may start to clear.
Should situations worsen, cryptocurrencies would be the least of concerns amidst broader global issues that might threaten life stability.
