- Bitcoin hovers below key resistance as traders weigh potential bull trap risks.
- Solana sees fresh investment despite renewed selling pressure from FTX-Alameda.
- Plume gains 35% in 90 days, signaling rising interest in RWA-backed crypto projects.
The cryptocurrency market has shown remarkable resilience despite ongoing geopolitical tensions, particularly the latest escalation in the US-China trade war. As per Altcoin Buzz, an analytic firm data, On April 12, China announced a dramatic 125% tariff on US goods.
Investors braced for volatility, but instead, digital assets rallied. This surprising shift has sparked speculation. Many now wonder whether the market is pricing in future optimism, or simply ignoring brewing risks.
Bitcoin continues to consolidate near critical resistance between $82,000 and $84,000. A close above this range could trigger a sharp move toward $92,000. However, caution remains warranted.
Analysts warn that recent price action could be setting the stage for a bull trap. Historically, pumps before the New York open have been followed by strong sell-offs. Hence, traders are advised to stay alert and watch price action closely.
Altcoins in Flux: Opportunity and Risk
While Bitcoin dominates headlines, major altcoins show mixed signals. Solana is back in focus after Genover, a real estate investment firm, purchased $4.6 million in SOL. This vote of confidence comes just as FTX-Alameda unlocks another $21.5 million in tokens, renewing fears of increased sell pressure. SOL needs a daily close above $125 to regain upward momentum. If it fails, a pullback toward $87 remains possible.
Cardano is also attracting attention. The network recently unveiled a smart wallet that allows ADA transfers via Google accounts removing the need for seed phrases. This user-friendly innovation could help expand adoption.
Additionally, the Midnight Airdrop, expected to reach 37 million users, is generating buzz especially among XRP holders. Still, ADA faces strong resistance at $0.65 and $0.74, while support lies near $0.46.
Ethereum’s outlook appears cloudy. The token is trading below its realized price of $2,000, a level closely watched by investors. Whale activity has raised alarms, as several longtime holders sold significant portions of ETH.
The Ethereum Foundation also sold 1,000 ETH, citing grant funding needs. Consequently, sentiment remains cautious, and the path forward appears uncertain unless demand picks up.
Noteworthy Developments and Future Watch
One project gaining traction is Plume, a real-world asset crypto startup. Backed by giants like Binance, Apollo Global, and Coinbase, Plume has surged 35% over the last three months. It has also outperformed Bitcoin by 53% in the same period.
Despite strong backing, technical charts suggest resistance near $0.167. A dip to $0.13 could offer a compelling entry point.
Additionally, the launch of CoinX’s BTC staking program is drawing attention. By partnering with Babylon Labs, CoinX allows users to earn BABY tokens on idle BTC.
