Here’s What to Expect From BTC, ETH, XRP & SOL as S&P500 Secretly Mirrors 1998 Cycle
The post Here’s What to Expect From BTC, ETH, XRP & SOL as S&P500 Secretly Mirrors 1998 Cycle appeared on BitcoinEthereumNews.com. Bitcoin (BTC) and most of the top altcoins have made significant gains this week as global financial markets show signs of a recovery despite the ongoing fears of the US and China not reaching a trade deal. Most importantly, the S&P500 index is repeating a 1998 pattern where a V-shaped recovery ensued after a sharp market decline. As risk assets rebound, here is what traders should expect from BTC, ETH, XRP and SOL price. S&P500 Index Mirrors 1998 Cycle Analyst Julien Bittel on X noted that the S&P500 index underwent a correction that mirrors what happened in 1998 when financial markets crashed after Russia defaulted on debt. This crash caused the market sentiment to become overly bearish before a rally ensued to form a V-shaped recovery. S&P 500 Bittel noted that this pattern appears to be in play again as the stock and crypto markets record price gains. After hitting lows in April following fear around the US-China trade war, the S&P500 has bounced by 12%, the Nasdaq 100 is up 15%, while the BTC price has surged by 26%. If this pattern plays out like it did nearly three decades ago, it would mean that a parabolic rally for risk assets. However, the US dollar continues to struggle after the recent DXY decline to a four-year low, indicating that tariffs remain a major risk to US economic growth. This may cause investors to adopt a risk-off stance, which will impact Bitcoin and altcoins. The risk of the US economy falling into a recession this year also remains high, with data from Polymarket showing that 63% of traders anticipate this event to happen in 2025. At the same time, the lack of any breakthrough in the ongoing China-US trade war suggests that investor confidence remains low, and this may have…
The post Here’s What to Expect From BTC, ETH, XRP & SOL as S&P500 Secretly Mirrors 1998 Cycle appeared on BitcoinEthereumNews.com.
Bitcoin (BTC) and most of the top altcoins have made significant gains this week as global financial markets show signs of a recovery despite the ongoing fears of the US and China not reaching a trade deal. Most importantly, the S&P500 index is repeating a 1998 pattern where a V-shaped recovery ensued after a sharp market decline. As risk assets rebound, here is what traders should expect from BTC, ETH, XRP and SOL price. S&P500 Index Mirrors 1998 Cycle Analyst Julien Bittel on X noted that the S&P500 index underwent a correction that mirrors what happened in 1998 when financial markets crashed after Russia defaulted on debt. This crash caused the market sentiment to become overly bearish before a rally ensued to form a V-shaped recovery. S&P 500 Bittel noted that this pattern appears to be in play again as the stock and crypto markets record price gains. After hitting lows in April following fear around the US-China trade war, the S&P500 has bounced by 12%, the Nasdaq 100 is up 15%, while the BTC price has surged by 26%. If this pattern plays out like it did nearly three decades ago, it would mean that a parabolic rally for risk assets. However, the US dollar continues to struggle after the recent DXY decline to a four-year low, indicating that tariffs remain a major risk to US economic growth. This may cause investors to adopt a risk-off stance, which will impact Bitcoin and altcoins. The risk of the US economy falling into a recession this year also remains high, with data from Polymarket showing that 63% of traders anticipate this event to happen in 2025. At the same time, the lack of any breakthrough in the ongoing China-US trade war suggests that investor confidence remains low, and this may have…
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