Over the weekend, cryptocurrency prices surged sharply after Donald Trump announced via Truth Social and X that the United States would establish reserves composed of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Cardano (ADA), and Solana (SOL). The market reacted euphorically to this statement, pushing Bitcoin up from around $80K to $94.5K, while smaller projects like Ripple gained over 30%.
However, on Monday, sentiment appears to be cooling down, potentially signaling profit-taking. Ripple and Solana are down around 9%, while Ethereum has pulled back by more than 6% to just under $2,400. Similarly, Cardano has declined by approximately 6%. It remains uncertain how large the U.S. purchases will be if the reserve is ultimately implemented.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appBitcoin (D1, M3 Interval)
Bitcoin’s price has risen above the EMA200 (red line) and is approaching a key resistance level around $95K, where significant price reactions have been observed. Today, the price has fallen back below the 38.2% Fibonacci retracement level and the average purchase price of short-term investors, which is around $92K. This suggests profit-taking following yesterday’s rally.
Source: xStation5
The so-called path of least resistance for Bitcoin has been trending downward for several weeks.
Source: xStation5
Looking at Solana and Ripple (XRP, gold chart), we see that while Solana has completely erased its gains since Trump's victory, Ripple remains relatively strong. However, both cryptocurrencies are down around 9% today.
Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
