The cryptocurrency market has just gone through a week of volatile trading with lackluster performances from leading coins. Data from major prediction platforms like Myriad is showing a noticeable shift in investor sentiment: from optimistic to extremely cautious.
Bitcoin: "Digital gold" is struggling at the 84,000 USD level
Just two weeks ago, the community was excited about the prospect of Bitcoin (BTC) surpassing the 100,000 USD mark when the probability for this scenario reached 88%. However, after a series of continuous price declines and hitting a two-month low at the 84,000 USD level, this confidence has been severely shaken.
That's how it is, even though large organizations continuously make large-scale purchases, BTC prices show no signs of improvement. The Fed's decision to keep interest rates unchanged in January has poured cold water on hopes for an early liquidity explosion. Currently, BTC is about 18% away from the important psychological support level of 69,000 USD. Predictors are now only giving a 55% chance for BTC to reach 100,000 USD before falling to lower price ranges. $BTC
Solana (SOL): From "darling" to concern about the 100 USD mark
The situation of Solana is even more concerning. Once a shining star at the beginning of last year, SOL has now dropped nearly 60% from its all-time high. Predictive data on Myriad has had a dramatic turnaround: from 91% believing SOL would reach 150 USD, now 57% think SOL will hit 100 USD first.
The only bright spot is that net inflows from Solana ETF funds are still positive, reaching over 6.7 million USD in the latest session. This indicates that institutional investors are still quietly supporting this platform despite negative price volatility.$SOL
The impact of macroeconomic factors and political sentiment
Aside from technical indicators, market sentiment is also influenced by major political events in the U.S. Unlike traditional polls, predictive platforms are showing a fairly high level of support for the current U.S. government's policies on cryptocurrency. However, the polarization remains significant, especially after recent security incidents.
Advice for fellow investors:
Closely monitor the support levels: The 85,000 USD level of BTC and the 100 USD level of SOL are extremely important psychological barriers.
Patiently waiting for March: The next FOMC meeting on March 17 will be the key to a clearer trend.
Capital management: That's how it is, in a market controlled by bears, protecting profits and limiting leverage is the top priority.
No matter what scenario occurs, Bitcoin and Solana remain the pillars of the market. Adjustments are a necessary part of the financial cycle, helping to eliminate excessive speculative factors to create a foundation for more sustainable development. #Colecolen