Crypto Markets Under Pressure: Bull Run’s End? Bitcoin Holds Key Level, Solana Expands, and US Interest Grows

The cryptocurrency market is navigating a turbulent period, with retail investor sentiment at a multi-year low, as the crypto bull market’s future hangs in the balance. While the overall fear and greed index signals caution, several factors suggest ongoing activity and potential shifts in the landscape.

Bitcoin Holds Above $96,000—A Crucial Level

Despite recent bearish pressure linked to new US trade policies, Bitcoin (BTC) remains above a crucial support level of $96,000. Analysts are observing the Realized Price of Unspent Transaction Outputs (UTXO) age bands, particularly the 1-3 month group, to gauge market sentiment. Historically, this realized price has acted as support, and its current position suggests ongoing confidence in the asset.

US States and Governments Eye Bitcoin as Reserve Asset

Growing interest in Bitcoin as a reserve asset in the US is fueling speculation of a global accumulation race. Several states have introduced Bitcoin reserve bills, which could mark a significant shift in government policy towards the cryptocurrency.

Solana Network Expansion Contrasts with Price Pressure

Despite the broader crypto market downturn, the Solana network continues to experience growth, with over 5 million new addresses created daily. This positive development on the Solana blockchain contrasts with its declining price, which has fallen over 40% from its all-time high, raising questions about long-term sustainability.

Tether CEO: Quantum Computing Could Recover Lost Bitcoin

Tether’s CEO proposes that quantum computing advancements could potentially recover lost Bitcoin, including potentially lost coins of the now-mysterious Satoshi Nakamoto. The possibility of retrieving lost coins has sparked considerable debate in the crypto sphere.

Retail Sentiment at a Low

Retail investor sentiment has fallen to its worst point in years, with traders expressing concern over the stall in crypto markets and the absence of a anticipated “Alt Season.” The situation underscores a major challenge to the broader bull run narrative.

Is the Bull Market Over?

The confluence of factors—low retail investor confidence, the need for Bitcoin to maintain above $96,000 support, the US government’s evolving stance, and the ongoing performance of Solana—points to a complex and uncertain market environment. Whether the crypto bull market is truly over remains an open question, but investors are clearly facing an intensely challenging period.