Solana Surges 7% as Bitcoin Hunts $85K Amid Fed Caution
Apr 17, 2025, 9:31 a.m.
4 sources
positive
Bitcoin experienced significant volatility following remarks by US Fed Chair Jerome Powell, who hinted that upcoming rate cuts were unlikely. This led to rapid price swings where BTC dropped below $85K after peaking at $86K and then recovering to trade above $84K. Meanwhile, Solana's native token, SOL, rallied over 7%, comfortably trading past $130 as investors regained confidence in altcoins. Other cryptocurrencies such as Ethereum (ETH) also saw a recovery, reaching $1,600, while mid-cap coin HYPE surged nearly 10% with its price nearing $16.5. In the broader altcoin market, assets like RNDR, BCH, TON, XRP, BNB, DOGE, AVAX, and LINK experienced moderate gains, whereas TRX lagged behind with a 4% decline. The overall crypto market cap recovered by more than $30 billion, now surpassing $2.75 trillion, indicating a rebound in market sentiment after recent corrections.
Bitcoin shows resilience despite short-term volatility triggered by Fed remarks. The coin dropped sharply by over $2K in minutes but recovered quickly above key support levels. Historical rebound patterns and sustained demand suggest that BTC is likely to experience gradual price gains in the near term, even though immediate reactions may remain volatile.
Solana's robust 7% surge past the $130 mark reflects strong investor confidence and positive market sentiment. The breakout indicates significant short-term momentum, and if the recovery trend continues, SOL could benefit from sustained upward pressure. Longer-term prospects will depend on continued network developments and overall market stability.
Ethereum's recovery to $1,600 signals renewed investor interest. Although ETH may experience similar volatility as Bitcoin, the broader market recovery could support a moderate upward trend, bolstered by its strong ecosystem and consistent trading volume.
HYPE has demonstrated significant mid-cap momentum with a nearly 10% gain, indicating strong short-term investor enthusiasm. Its lower liquidity might lead to increased volatility, but if current trends persist, HYPE could see further appreciation.
RNDR is showing positive recovery signs with modest gains mirroring the overall altcoin rally. Short-term bullish trends may support incremental price increases, though volatility remains a risk factor.
Bitcoin Cash is experiencing mild gains in line with the broader altcoin recovery. While positive sentiment may help stabilize its price, BCH is likely to see only moderate appreciation unless further market catalysts emerge.
TON is benefiting from the overall positive market sentiment, with noticeable gains suggesting moderate short-term bullish momentum. Continued market recovery could further support its price movement.
XRP is tracking upward as part of the altcoin rally. While the recovery trend offers potential for price gains, XRP may also face regulatory uncertainties that could temper long-term growth.
BNB is experiencing resilience in the current market environment, with slight gains reflecting steady institutional interest. Its price is likely to remain supported by strong trading volumes and a comprehensive ecosystem.
DOGE's modest appreciation is in line with the broader altcoin recovery. Although it is less influenced by institutional factors, increased investor sentiment could drive short-term bullish movements.
AVAX is seeing gradual gains as it benefits from overall market recovery. Sustained investor confidence could result in continued incremental price growth in the short to medium term.
LINK's positive trend reflects its role in the broader altcoin rally. While price increases have been moderate, continued market recovery and demand for decentralized services could provide further upward pressure.
TRX has underperformed by dropping nearly 4%, suggesting investor caution or a temporary correction. This negative movement may be short-lived if broader market sentiment improves, but currently TRX faces challenges in regaining momentum.
Sources
Price predictions 4/16: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LEO, LINK, AVAX
Cointelegraph
16.04.2025 17:22
SOL Jumps 6%, Bitcoin Clings to $84K on Dampened Rate Cut Hopes
CoinDesk
17.04.2025 06:19
Solana (SOL) Jumps by 7% Daily, Bitcoin (BTC) Eyes $85K Again (Market Watch)
cryptopotato.com
17.04.2025 09:14
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