What To Watch Today in the Crypto Market
Bitcoin stayed steady above the $84,000 mark overnight from April 1 to 2.
During the night of April 1 to 2, Bitcoin stayed above the $84,000 threshold. On a daily basis, digital gold rose 1.8 percent and is currently valued at about $1.68 trillion.
Yet the price is still roughly 22 percent below the previous high of $109,000. According to data from Glassnode, this still leaves 23 percent of all Bitcoin investors with a loss in their portfolio. A line chart shows the share of total Bitcoin supply that is profitable, fluctuating between 70 and 102 percent from April to early April the following year. After the last U.S. presidential election, about 99 percent of investors were in the plus.
Ethereum also gains ground but lags the all-time high
Ethereum is showing positive movement too and climbs to nearly $1,900. But the current level is still more than 60 percent below its historic peak. So only about half of all ETH investors are currently in profit.
Altcoins take losses, Bitcoin dominates
XRP, Solana and other top-10 coins are showing daily losses. Over the past seven days, many altcoins have seen substantial declines.
According to data from CoinMarketCap, we are currently in a so-called “Bitcoin season.” That means Bitcoin is delivering more returns than most altcoins right now. This is also reflected in BTC’s dominance: of the total market cap of all cryptocurrencies, currently $2.79 trillion, about 62 percent comes from Bitcoin.
Trump could spark a new market move
For fresh movement in crypto and financial markets, today could bring the so-called “Liberation Day,” as named by Donald Trump. On this day new import tariffs on foreign goods would take effect. A press conference by the U.S. president is planned for 21:00 CET.
The trade war with countries like China, Mexico, Canada and the EU has already caused significant price swings in recent weeks across both crypto and traditional markets.
