Bitcoin (BTC) is having trouble finding its footing on Saturday, trading just below $90,000 as cooling inflation data has investors pulling back from riskier assets. It's the kind of market action that reminds everyone that what goes up can also go sideways for a while.
Here's where the major cryptocurrencies stand:
Bitcoin: $89,496.98
Ethereum (ETH): $3,024.66
Solana (SOL): $132.33
XRP: $2.02
Dogecoin (DOGE): $0.1384
Shiba Inu (SHIB): $0.058201
Market Developments Worth Watching
The crypto landscape is shifting in interesting ways. Polymarket traders are now predicting that Trump's proposed Bitcoin, ETH, and XRP reserve won't materialize in 2025. Meanwhile, BlackRock's IBIT Bitcoin ETF just experienced a record $2.7 billion exodus, which sounds alarming until you consider what BlackRock CEO Larry Fink is saying: sovereign wealth funds are buying Bitcoin "with purpose." Apparently institutional money knows something retail panic-sellers don't.
On the Ethereum front, Tom Lee is making bold calls, arguing that ETH is "grossly undervalued" and targeting at least $12,000. The recent Fusaka upgrade is also raising questions about whether it puts a floor under Ethereum prices, which would be welcome news for holders watching their portfolios bleed.
What Traders Are Saying
IncomeSharks is preaching patience, emphasizing that real Bitcoin bottoms take time to form. The message: don't rush in thinking you'll time the exact bottom, because markets typically provide multiple buying opportunities over several months. It's the investing equivalent of "slow your roll."
Crypto trader Jelle is watching Bitcoin approach a retest of the monthly open with concern. If that level breaks, there's limited support below, which could send the price toward at least $88,000. That makes this a crucial moment for bulls to defend their territory or risk further downside.
Crypto Chase had a different kind of day, noting that a planned $94,000 short would have played out perfectly, but he skipped the trade because price front-ran the level before moving directly to his target. Sometimes the best trades are the ones you don't take, though that's cold comfort when you're right.