The rest of the Altcoins operates with profits of up to 8%headed by Ethereum, followed by PI (7.4%), Chainlink (5.4%), Solana (5%) and Hyperliquid (4.1%).
According to data from Coinglassin the last 24 hours more than US were settled530 million In long positions. Of that total, about 200 million correspond to Bitcoin futures contracts and 170 million to products linked to Ether. The settlements occur when the Exchange They automatically close positions leveraged due to lack of guarantees, forcing the market output.
In parallel, the open interest in futures fell into more than US $1.2 billionwhich reflects a strong process of DEPLALANCEwith operators closing long positions under pressure.
From euphoria to cooling
The falls cut the rally observed on Monday, driven by commercial distention between United States and China. Washington announced a reduction of tariffs from 145% to 30% for 90 days, while Beijing will apply a 125% to 10% reduction on US products. The agreement was concluded by stock markets and also had an impact on the crypto universe.
“The market relied on the recent trade agreements in the United States, such as the one achieved with the United Kingdom, who acted as a catalyst for Bitcoin and the indices. But the key is in the negotiation with China: if it progresses, we will see new historical maximums; if not, we could attend a setback before the end of the month,” explained Javier Molina, a senior analyst of ETORO.
However, the improvement in commercial relations could also be weakening the appetite for risk assets such as cryptocurrencies, by decreasing coverage urgency perception.
Encof on Fed and Inflation
The focus of the market now moves to the next meeting of the Federal Reserve (Fed). Although investors discount between three and four type cuts in 2025, the Central Bank has shown a more cautious position, insisting that it needs more time to evaluate the impact of tariffs before adjusting monetary policy.
Within that framework, the inflation fact that will be known today will be key. The consensus of analysts expects the Consumer Price Index (CPI) Stay in the 2.4% year -on -year In April, with an underlying rate of 2.8%.
“The decisions of the Fed and its comments will be decisive for Bitcoin to exceed its previous tops. A stage of cuts could stimulate investment and credit, favoring both the economy and risk assets,” he says Jeff MeiDirector of Operations of the Exchange Btse.
For its part, Molina emphasizes that the liquidity It remains one of the great engines in the market: “The Treasury continues to inject dollars, and the offer of BTC in Exchanges is at least seven years. This creates conducive conditions for new increases. However, there are no guarantees, since the market remains extremely sensitive to the evolution of macroeconomic data and the Fed policy.”
Source: Ambito
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