BTC, ETH, XRP Rally Forecast: Top Coins Bounce Post-Drop
1h
FR
www.fxstreet.com
Bitcoin Meteo
Bitcoin (BTC) hovered around $92,600 on Wednesday after dipping below $90,000 earlier in the week, extending a 2% decline from Monday and closing below the 61.8% Fibonacci retracement at $94,253 (drawn from April 7 low of $74,508 to October 6 all-time high of $126,299). Tuesday saw BTC hit $89,253 before rebounding to $92,960 from the $90,000 psychological support. The daily RSI at 30 nears oversold territory, signaling slowing bearish momentum and potential recovery to $94,253 if $90,000 holds; a close below could target $85,000 support.
Ethereum (ETH) steadied at $3,118 on Wednesday, defending $3,017 support after a 14% drop from $3,592 rejection, with Tuesday's low at $2,946. RSI rebounding from oversold suggests recovery to $3,592 if support holds, or decline to $2,749 otherwise. XRP stabilized at $2.21 after a 6-7% correction from $2.47's 50-day EMA, with RSI at 41 indicating fading bears; upside to $2.47 or down to $1.96.
Market notes include Solana (SOL) up 2% to $130 above $126 support; Cardano (ADA) at $0.45; Cboe's planned Bitcoin and Ethereum 10-year Continuous Futures; and BitMine Immersion Technologies' purchase of 54,156 ETH, boosting holdings to 3.56 million. BTC structure deteriorated below $97,000 on Friday, with 7% weekly losses amid capitulation. (198 words)
A government shutdown is crippling the U.S. economy for a month, forcing Republicans to implement stimulus measures. Donald Trump is guaranteeing a $2,000 tariff dividend to all Americans, excluding high-income earners, as a key policy response.
### Scott Besson's Media Appearance
Scott Besson appeared on TV for damage control regarding these initiatives. The proposals include no tax on tips, no tax on overtime, no tax on Social Security benefits, and deductibility of auto loans. These substantial tax deductions are being financed through the tax system to mitigate economic fallout.
(Note: The provided content does not discuss Bitcoin or its market; it focuses on U.S. political and economic policies. Summary limited to 120 words.)
