In-depth analysis
1. Massive sell-off of altcoins triggered by macroeconomic factors
The main factor is a generalized pullback in the cryptocurrency market in response to risk. The media emphasizes that the new international tariff policies of President Trump and the ongoing capital outflows from Bitcoin spot ETFs are major macroeconomic obstacles (The Defiant). Bitcoin fell by 1.12%, but INJ lost more than six times that value, reflecting its greater sensitivity (beta) to negative market sentiment.
What this means: INJ behaves like a high-beta crypto asset, amplifying downward movements when institutional and macroeconomic fears trigger widespread selling.
To watch: any reversal of Bitcoin spot ETF flows, which could signal a return of risk appetite.
2. Technical failure and sector weakness
The price of INJ has fallen below its 7-day simple moving average ($3.35) and its 30-day simple moving average ($3.49), confirming a short-term bearish trend. Its RSI at 45 indicates further downside potential before reaching the oversold zone. Moreover, the altcoin sector has generally weakened, with major tokens like Ethereum and Solana also recording losses, suggesting a lack of rotation towards riskier assets.
What this means: The technical situation confirms the continuation of downward pressure, with no immediate support from sector rotation.
To watch: a return above the level of $3.35 would signal a short-term bearish exhaustion.
3. Short-term market outlook
The outlook is cautiously bearish, subject to the overall stability of the market. The concrete trigger factor is the persistent macroeconomic uncertainty and capital outflows from ETFs. If INJ maintains above the support of $3.00, a sideways consolidation between $3.00 and $3.35 is likely. However, a break below $3.00 could accelerate selling towards the next support zone near $2.80.
In clear terms: the bearish trend remains favored until Bitcoin stabilizes and the market sentiment for altcoins improves.
To watch: the evolution of Bitcoin's price around $64,000; a sustained drop could trigger a new decline for INJ.
Conclusion
Market outlook: Bearish pressure. The pullback of INJ is symptomatic of a macroeconomic risk aversion that affects altcoins harder than Bitcoin. Its technical breakdown reinforces this negative dynamic.
Key point to watch: Can Bitcoin stabilize above $64,000 and will the volume of INJ explode in case of a rebound to confirm buyer interest?$INJ
