Crypto: Price Predictions 2/23: Spx, Dxy, Btc, Eth, Xrp, Bnb, Sol, Doge,...
Bitcoin and altcoins sold-off as US stock markets digested US President Donald Trump’s fresh 15% global tariff. Are new 2026 lows in store?
Bitcoin’s (BTC) weakness extended into the weekly open as major stocks sold off in response to US President Donald Trump’s threat to enforce a 15% global tariff after the Supreme Court ruled that his IEEPA tariffs were illegal.
Market sentiment remains fragile, as the Crypto Fear & Greed Index at 5 out of 100 remains in the “extreme fear” zone. Pseudonymous trader and investor BitcoinHyper said in a post on X that the index has been in the extreme fear zone for nearly three weeks, the longest since 2022.
Traders on the prediction market Polymarket have increased the odds of BTC falling below $55,000 to 72%. The prediction market expectations matches several analysts and financial institutions who expect a fall near or below $55,000.
While a bottom may not have formed, expectations are that BTC will eventually recover and move higher. Economist Timothy Peterson said in a post on X that BTC has been positive 50% of the time in the past 24 months. Using a statistical model, Peterson estimated that there is an 88% chance that BTC “will be higher 10 months from now.”
Could buyers defend the support levels in BTC and the major altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
The S&P 500 Index (SPX) has been trading between 6,775 and 7,002 for several days, indicating a balance between supply and demand.
The flat moving averages and the relative strength index (RSI) near the midpoint do not give a clear advantage either to the bulls or the bears. Buyers will have to achieve a close above the 7,002 resistance to signal the resumption of the uptrend. The index may then ascend to the 7,290 level.
This bullish view will be invalidated in the near term if the price turns down and breaks below the 6,775 level. The index may then tumble to the solid support at the 6,550 level.
The US Dollar Index (DXY) turned down from the 50-day simple moving average (97.95) on Friday, indicating that the bears are aggressively defending the level.
Source: CoinTelegraph
