Bitcoin’s price has been stuck in a range, with its last trade above $90,000 occurring on March 7. By the end of the previous year, Bitcoin had surpassed the $100,000 mark, but this milestone was short-lived as the price quickly fell. Since then, Bitcoin has been on a downward trend, even dipping below $80,000.
Adding to the market’s struggles, President Trump’s tariff announcement put additional pressure on the crypto space, causing most cryptocurrencies to suffer alongside Bitcoin.
According toCryptoQuant CEO Ki Young Ju, Bitcoin bull market appears to be over, based on on-chain data analysis. The key metric is Realized Cap, which measures the actual capital entering the market by tracking when BTC is bought (entered a wallet) and sold (left a wallet).
“But when sell pressure is high, even large purchases fail to move the price. There are simply too many sellers. For example, when Bitcoin was trading near $100K, the market saw massive volumes, but the price barely moved,” he explained.
When the Realized Cap grows but the Market Cap (based on the latest trading price) stays flat or drops, it signals that money is flowing in, but prices aren’t responding—this is a bearish sign. Right now, that’s exactly what’s happening.
In contrast, if small amounts of new capital push prices up, it’s a bullish market. But currently, even large amounts of capital aren’t enough to move Bitcoin’s price, indicating a bear market. Historically, real market reversals take at least six months, so a quick recovery is unlikely.
“In short: when small capital drives prices up, it’s a bull market. When even large capital can’t push prices upward, it’s a bear. Current data clearly points to the latter. Sell pressure could ease anytime, but historically, real reversals take at least six months—so a short-term rally seems unlikely,” he concluded.
The White House hosted its first-ever crypto summit on March 7, 2025, marking a pivotal moment in the U.S. government’s stance toward digital assets. President Donald Trump, during the crypto summit, unveiled a series of major initiatives aimed at reshaping the crypto landscape in America.
With an audience of top executives from leading crypto companies including Ripple CEO Brad Garlinghouse, Donald Trump made it clear that his administration is set to bring a new era of support for the digital asset industry.
Donald Trump Promises End of Operation Chokepoint 2.0
One of the key announcements at the crypto summit was President Donald Trump’s pledge to end “Operation Chokepoint 2.0.” This initiative had seen regulatory pressure on banks, leading them to close accounts of crypto businesses. Trump expressed strong disapproval of these actions, stating that the government had “weaponized” the banking system against the industry.
He assured crypto CEOs that this era of resistance would soon be over, emphasizing that the government’s stance on crypto would now be more favorable. The president also called for continued legislative efforts to provide regulatory certainty for the crypto market, particularly regarding stablecoins.
President Donald Trump highlighted the importance of stablecoin legislation, which he hopes to sign before Congress goes on its summer break in August. He noted that the growth and innovation in the financial sector would benefit from clear rules surrounding these assets. Many of the major players in the crypto space, including executives from Coinbase, Gemini, and Ripple, were present at the summit, reinforcing the industry’s support for these developments.
Launch of Bitcoin Reserve Initiative
A major highlight of the crypto summit was reflecting on the announcement of a strategic Bitcoin reserve by the President Donald Trump’s administration yesterday. The reserve will be seeded with Bitcoin already held by the U.S. government, largely obtained through criminal and civil asset forfeitures.
The president referred to this reserve as a “digital Fort Knox for digital gold” and made it clear that the government would not sell the Bitcoin in its possession. This move is part of a broader strategy to position the U.S. as a leading nation in the cryptocurrency space.
President Donald Trump stressed that holding Bitcoin would not only serve as a store of value but would also demonstrate the U.S.’s commitment to the digital asset ecosystem.
“From this day on, America will follow the rule that every Bitcoiner knows very well: never sell your Bitcoin,” he said.
The reserve is expected to play a significant role in the government’s strategy for managing its digital asset holdings. It is worth noting that the reserve’s creation does not involve taxpayer money, as the Bitcoin being held was obtained through non-taxpayer sources.
Future Expansion of the U.S. Crypto Stockpile
Alongside the Bitcoin reserve, Trump’s administration revealed plans to create a broader U.S. crypto stockpile. This stockpile will include digital assets beyond Bitcoin, with the U.S. government maintaining a reserve of assets seized through criminal or civil proceedings.
Although Bitcoin is the primary focus for now, the government may consider adding other digital assets such as Ethereum, XRP, Solana, and Cardano in the future.
The strategic intent behind these initiatives is to position the U.S. government to benefit from the long-term potential of digital assets. President Donald Trump’s administration views digital assets, particularly Bitcoin, as valuable for both economic growth and innovation. As part of the strategy, officials have also stated that no taxpayer funds will be used for future acquisitions of Bitcoin or other digital assets. Treasury Secretary Scott Bessent mentioned that the reserve would begin with seized assets but could expand further depending on future government decisions.
Concurrently, throughout the crypto summit, President Donald Trump expressed his support for legislative efforts aimed at clarifying the regulatory framework for the cryptocurrency industry. In addition, the president urged lawmakers to continue their efforts, acknowledging the importance of getting the regulatory landscape right to foster economic growth and innovation.
However, not all reactions to the crypto summit were positive. Economist and financial commentator Peter Schiff, a vocal critic of cryptocurrencies, took to X to express his displeasure. He said;
“The crypto summit is a disgrace. It’s a national embarrassment. The crypto faction that has captured the White House is precisely what our Founding Fathers warned us about. It will be a blight on whatever legacy Trump leaves and marks a low point for the presidency and the U.S.A.”
Over the past two months, macroeconomic uncertainty has heightened crypto market volatility. Bitcoin has retracted from its $109K high, while altcoins have faced even steeper declines. According to Coinglass data, investor sentiment has shifted from a phase of “greed” to one of “fear,” sparking debate over whether this is merely a dip or the onset of a bear market.
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Amid the ongoing confusion in the cryptocurrency market, Chainlink’s native token LINK has shown bearish price action and is poised for a decline. However, the current market sentiment remains bearish, with top assets like Bitcoin (BTC), Ethereum (ETH), and XRP also experiencing notable price declines.
This downturn is potentially influencing overall market sentiment.
Chainlink (LINK) Technical Analysis and Upcoming Levels
According to expert technical analysis, LINK appears to be forming a bearish double-top pattern on the four-hour timeframe. While this pattern is yet to be complete, the chart also shows a bearish divergence, further supporting this negative outlook.
Based on historical price momentum, if the asset closes below the $16.15 level, there is a strong possibility of a 22% decline, bringing it down to $12.75 in the coming days. A bearish divergence occurs when the Relative Strength Index (RSI) and the double-top pattern align, specifically when the pattern’s tops are parallel while the RSI’s tops decline.
Source: Trading View
Current Price Momentum
Following the formation of the pattern, the asset has begun moving downward. LINK is currently trading near $16.31 and has dropped 4.5% in the past 24 hours. Meanwhile, its trading volume has surged by 12%, indicating increased participation from traders and investors compared to the previous day.
Traders Lean Bearish
With the ongoing price decline and bearish price action, intraday traders seem to be following the current market sentiment, strongly betting on the bearish side, as reported by the on-chain analytics firm Coinglass.
Data reveals that traders are currently over-leveraged, with key levels at $16 on the lower side and $17.50 on the upper side for both bulls and bears. At these levels, they have built $4 million worth of long positions and $10 million worth of short positions, indicating that bears are currently dominating and could push LINK’s price even lower.
The post Chainlink (LINK) Poised for 22% Price Decline, Here’s Why appeared first on Coinpedia Fintech News
Amid the ongoing confusion in the cryptocurrency market, Chainlink’s native token LINK has shown bearish price action and is poised for a decline. However, the current market sentiment remains bearish, with top assets like Bitcoin (BTC), Ethereum (ETH), and XRP also experiencing notable price declines. This downturn is potentially influencing overall market sentiment. Chainlink (LINK) …
