Original author: BitpushNews Mary Liu
The crypto market fell slightly on Wednesday, giving up some of yesterdays gains. According to Bitpush data, Bitcoin is currently consolidating around $96,500, down 1.6% in the past 24 hours. Ethereum rose 2% to $2,790. Meanwhile, XRP fell 7% to $2.4 and Solana (SOL) fell 6% to $196. The total market value of cryptocurrencies fell 1.8% in the past 24 hours to $3.17 trillion.
Trump tariff deal keeps markets volatile
The market retreat comes amid ongoing uncertainty over U.S. economic policy and regulatory changes. While Trumps suspension of tariffs on Canada and Mexico has provided some temporary relief, investors remain cautious about heightened volatility, inflationary pressures and upcoming legislative developments.
Antonio Di Giacomo, senior market analyst at XS.com, said: The market outlook has taken a positive turn as the Mexican president reached an agreement with Trump. However, despite the price rebound, he warned that volatility in the cryptocurrency market remains high.
Di Giacomo said: Bitcoin continues to face challenges such as the Federal Reserves monetary policy, government regulation, and the behavior of large investors. Experts believe that the $100,000 level may become a strong resistance in the short term, and continued growth will become difficult without new catalysts.
What does market sentiment suggest?
According to the daily time frame chart released by chart analyst Trivedi, Bitcoin has recently rebounded from the range low of $92,000 and retested the 50% Fibonacci resistance level. However, the price failed to break through the 20-day moving average (EMA) resistance and continued to trade below it, indicating that the market lacks sufficient buying momentum.
Although the BTC price has significantly fallen below the $100,000 mark, the overall uptrend remains intact. As long as the price remains above $90,000, the bulls will continue to dominate and the uptrend may restart.
According to Coinglass data, the long-short ratio currently stands at 0.9849, indicating a slight improvement in market sentiment. However, open interest (OI) decreased by 2.30% to $58.84 billion.
The current key support levels are located at $95,000 and $92,000, while the resistance levels are located at $100,000 and $105,000.
Optimistic forecast: $170,000 in a few months, $500,000 in 2028
Market analyst best_analysts pointed out in his latest post on the X platform that if historical price trends repeat themselves, Bitcoin may be on the verge of a larger breakthrough. According to long-term trend analysis, BTC is expected to climb to around $170,000 in the next few months, and the specific increase will depend on whether it can maintain the current trend.
At the same time, CryptoGoos mentioned in its post that BlackRock continued to increase its holdings of BTC and ETH during the recent market correction. This trend echoes the continued decline in exchange supply, indicating that the market demand for this asset is gradually increasing.
From a historical perspective, a decrease in exchange supply is usually an important signal that crypto assets are about to rebound. In addition, since the BTC price has experienced a significant correction from its highs, the market may be accumulating momentum for the next round of recovery towards the historical high (ATH).
Standard Chartered, an ever-aggressive bank, predicts in its latest report that Bitcoin (BTC) prices are expected to reach $500,000 by 2028. This prediction is based on two key factors: the popularity of spot Bitcoin ETFs and a decline in volatility.
Geoffrey Kendrick, head of global digital asset research at Standard Chartered Bank, pointed out in the report that as the U.S. spot Bitcoin ETF market matures, the volatility of Bitcoin will gradually decrease. He said that with the policy support of the Trump administration, the access to Bitcoin is improving, and the trend of institutional funds flowing into spot Bitcoin ETFs will continue to grow.
Kendrick believes that the ratio of the optimized dual-asset portfolio of Bitcoin and gold will gradually increase, which will drive the long-term rise of Bitcoin prices. He wrote: As the portfolio gradually approaches its optimal state, the price of Bitcoin will achieve long-term appreciation.
Standard Chartered Bank’s prediction for Bitcoin is as follows:
End of 2025 target: $200,000
2026 target: $300,000
2028 target: $500,000
Kendrick emphasized that this upward trend will gradually materialize during President Trump’s term in office and will be enough to push Bitcoin to $500,000 before Trump leaves office.
