Today’s Bitcoin price analysis reveals a market in retreat as the foremost cryptocurrency dipped to $62,389, marking its lowest in over a week. This retraction from the April 25 high of $65,287 has set a bearish tone for the crypto market. At the time of writing, Bitcoin had decreased by 2.28% over the previous 24 hours to a value of $62,839.
The crypto market is feeling the ripple effects of Bitcoin’s downturn, with a broad spectrum of altcoins, including Solana (SOL) and Shiba Inu (SHIB), charting a 6% drop. Meme coins in the Solana ecosystem, such as Dogwifhat and Bonk, faced steeper declines, plummeting by 11.80% and 13.45%, respectively. The sharp downturn surprised some investors, resulting in over $157.29 million in liquidations in the past day, with Bitcoin’s share being $42.22 million, according to CoinGlass.
Compounding the sell-off was the release of U.S. inflation data, which surpassed expectations and fueled fears about the economic outlook. The uptick in inflation has led to investor trepidation regarding the Federal Reserve’s rate plans, contributing to the crypto market’s cautious sentiment.
XRP/BTC Pair Resistance Analysis by EGRAG CRYPTO:
EGRAG CRYPTO, a renowned cryptocurrency analyst, recently revealed critical resistance levels for the XRP/BTC trading pair, providing insights into potential market dynamics. According to EGRAG CRYPTO’s analysis, the “First Major Resistance” level for the XRP/BTC pair is identified at 0.00001667. However, the pivotal point, termed the “Valhalla Gateway,” lies at 0.00002700. EGRAG CRYPTO suggests that breaching these key thresholds could signal the beginning of an official bull run in the XRP/BTC market.
#XRP / #BTC Official #Bullrun Announcement 📢:
Since February 22nd, I’ve been highlighting that the official #Bullrun will kick in once #XRP / #BTC touches a specific point. For better clarity, check out my post here: https://t.co/hyXqWEMSti
Shilling Vibes:
The #XRP / #BTC… pic.twitter.com/1vqmMuRTO3— EGRAG CRYPTO (@egragcrypto) April 27, 2024
Backing his predictions with historical analysis, EGRAG CRYPTO emphasizes the significance of specific resistance levels in triggering bull runs in the XRP/BTC market. The analyst points out that historical patterns indicate a potential bull run initiation once certain price points are breached. This insight has sparked anticipation within the XRP community, with EGRAG CRYPTO exuding confidence in the life-changing implications of a bullish market sentiment.
