Bitcoin hovers around $77,000. It can’t crack $80,000. Multiple pushes have failed. Early Wednesday, it traded at $77,049, up just 0.2% over 24 hours, according to Barron’s. Ethereum edged higher by 1.6%. XRP dipped 0.1%. The market braces for a Federal Reserve decision that could sway sentiment further.
Traders watch closely. Bitcoin has mounted several attempts above $80,000 recently, only to retreat. Progress since February’s bottom remains scant. Yet optimism lingers. Short-term holders take profits each time BTC nears $77,000, creating sell pressure that caps upside, as noted in a fresh Cointelegraph analysis published today.
Ethereum shows more promise. It climbed toward $2,300 amid broader altcoin stirrings. XRP holds steady above $1.38, per live data from CoinDesk. But volumes stay muted. XRP led weekly gains at 6.4%, outpacing Bitcoin and Ethereum, though low trading activity tempers breakout hopes.
And then there’s the Fed. Rates stay unchanged. Short-term volatility spiked, liquidating over $500 million in positions. Bitcoin stalled below $76,000 post-announcement, reports FXStreet. Spot Bitcoin ETFs saw $490 million in outflows yesterday alone. Momentum fades?
But. Altcoins push back. XRP outperformed Bitcoin, Ethereum, and Solana with a 4% jump to $1.41 last week, fueled by Rakuten Wallet’s listing and SEC developments, per Yahoo Finance. Ethereum longs build on Binance near $2,256, eyeing $2,400 resistance.
Geopolitics adds fuel. Bitcoin topped $77,500 after President Trump’s Iran ceasefire extension. Strategy bought 34,164 BTC for $2.54 billion—its largest since 2024—lifting prices 2.2% in 24 hours, details CoinDesk. XRP and Ethereum outpaced majors post-$76,000 BTC spike, sparking $461 million in liquidations.
Technical signals mix caution with hope. Bitcoin tests $77,000 resistance repeatedly. A break could target $85,000-$86,000. Hold $73,000, and bulls stay in control, says Coinpedia. XRP eyes $1.50 from a symmetrical triangle, support at $1.20 firm.
Ethereum faces its own hurdles. It reclaimed $2,000 on ceasefire news but lingers 50% below 2025 highs. Retail chatter turns bullish. XRP sentiment flips too.
Outflows tell a story. Bitcoin and ether ETFs lost $9 billion over four months—$6.39 billion from BTC alone—the longest streak since launch. Post-Trump reserve plans, billions in BTC, ETH, XRP hit exchanges, reversing surges.
So where next? Bitcoin’s failure to advance since February screams consolidation. Altcoins like XRP hint at rotation. Fed hawkishness weighs. Profit-taking persists. Yet ceasefire tailwinds and corporate buys persist.
XRP burns fees dropped 52%, network activity slumps—breakout doubts grow. But whales yank 35 million tokens from exchanges. Accumulation?
Traders scalp shorts near max pain zones before $80,000 pumps. Long-term? History favors post-election rallies, Trump or not. BTC undervalued versus prior cycles.
Ethereum’s symmetrical triangle breakout years ago signaled uptrends. Now? $3,000 attempt invalidated recently.
Bitcoin erased post-election gains, dipping to pre-Trump levels. 44% supply underwater. Oversold conditions precede bounces.
The $80,000 barrier looms large. Crack it, and $85,000 beckons. Fail again. $73,000 tests resolve. Ethereum and XRP wait in wings. Momentum builds quietly. Or fades.
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