XRP, ETH, SOL, and HYPE are in focus as Bitcoin dips below $100K

The recent dip in Bitcoin's price below the $100,000 mark has shifted the focus of cryptocurrency investors towards alternative assets such as XRP, Ethereum (ETH), and Solana (SOL). This fluctuation highlights the volatility inherent in the crypto market and raises questions about investor sentiment and market dynamics. Notably, XRP is currently under scrutiny by the SEC regarding a proposed ETF by WisdomTree, which could significantly impact its market position .

Bitcoin  nosedived below the psychological $100,000 support on Sunday as traders digested the US strike. Popular trader Cas Abbe said in a post on X that Bitcoin could drop toward the $93,000 to $94,000 zone before starting a reversal. 

Bitcoin is currently trading at $104,522, and a drop to $94,000 would mark a 10% decline, while a rise to $114,000 would mean an approximate 9% gain and a new all-time high, surpassing the previous high of $111,940 set on May 22, according to CoinMarketCap data.

Bitcoin hasn’t touched the $94,000 level since May 6, shortly before it broke back above $100,000 on May 8 for the first time in three months. 

steady Wednesday was widely expected and didn’t affect crypto prices much. The central bank still forecasts two rate cuts in 2025, however, more officials now project only one rate cut this year.

When interest rates are higher, riskier assets like cryptos tend to suffer because safer parts of the market, like bonds, are likely to offer investors steadier returns.

Meanwhile, ETH appears to be gaining momentum as it approaches the critical $3,000 threshold. Technical analysis indicates that Ether is forming an ascending triangle pattern, suggesting potential upward movement in its price trajectory . Such developments underline the importance of monitoring altcoins during Bitcoin's fluctuations, as they may present lucrative opportunities for investors seeking diversification.

Additionally, Solana continues to attract attention due to its rapid growth and robust ecosystem. As Bitcoin dominance remains above 64%, alternative cryptocurrencies like XRP and ETH are poised to capture market interest amid this volatility. The interplay between these digital assets illustrates a complex landscape where hype can drive investment decisions significantly.

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Sara H

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