The crypto landscape, shaken by winds in recent weeks, finally shows signs of resilience. While Bitcoin came close to $ 75,000 before bouncing around $ 80,000, altcoins like XRP and Dogecoin recorded 10%gains, restoring a breath to the market. This upturn occurs when the global capitalization returns to its levels last November, a period marked by the election of Donald Trump. A technical rebound, massive liquidations and a chain reaction of traders: decryption of relief as brutal as it is outstanding.
Crypto market mechanics: between liquidations and rebalancing
The return of buyers to Bitcoin served as a catalyst. After a diving under $ 75,000, the recovery around $ 80,000 released a positive shock wave. This rise, far from harmless, is part of a context where nearly $ 1.2 billion in derived positions were liquidated in 24 hours on the Crypto market. A forced cleaning that forced the sellers to cover their positions, fueling a bullish spiral.
In this wake, altcoins have surfed on the wave. The Cryptos Dogecoin, XRP or Cardano (ADA) have climbed up to 10%, partially erasing recent losses.
These assets, often more volatile, generally take advantage of market reversals to attract capital in search of accelerated yields. A dynamic reinforced by the rebound in the index Coindesk 20 (+9%), reflection of an optimism found.
However, this upturn hides a more complex reality. The capitalization of the market, returned to its November 2023 level, recalls a historic precedent: Trump's victory had then made it possible to cross a resistant technical level. Today, this symbolic threshold becomes an anchor point, suggesting that investors seek to stabilize courses after weeks of turbulence.
Sentiments and perspectives: between prudence and opportunism
If prices go up, the spirits remain marked by distrust. The index of fear and greed Place the crypto in an “extreme fear” area (23/100), well below the stock markets.
A paradox, according to Alex Kuptsikevichanalyst at FXPro: “This does not reflect increased confidence, but rather an organized sale, therefore more dangerous. »» For him, a technical rebound is not enough to reverse the trend without external catalysts.
Some actors still see an opportunity. Jupiter Zheng, of Hashkey Capital, stresses that Bitcoin could play its role of refuge value if the traditional markets are struggling to get up. “Its relative stability despite world sales records could attract buyers looking for DIP”, he explains. An attractive hypothesis, but conditioned on a demonstration of strength in the face of conventional assets.
In the background, pricing wars and political rumors add to uncertainty. The ephemeral excitement of the S&P 500 (+7%), quickly canceled by a denial of the White House, illustrates this fragility.
Crypto traders, now used to these upheavals, sail between reactivity and prudence, aware that each false movement can awaken volatility.
If the recent lull brings a breath of respite, it nevertheless struggles to convince permanently. Between technical adjustments and aspirations to a refuge value role, the market carefully scrusts these five essential facts to try to decipher the upcoming trajectory.
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