The Crypto market fell last week as US tariffs shook the market and investors fled to safe assets like gold. Crypto prices, which recovered slightly on Monday and Tuesday, continued to move downwards as uncertainty loomed. Meanwhile, the influx of Spot ETFs remained positive despite several days of outflow.
Bitcoin
Bitcoin prices have been lower than last week following President Trump’s announcement of tariffs on Canada, Mexico and China. Investors have fled to secure assets like gold, but dangerous assets like crypto have been lowered.
However, the price is a catalyst for faster price drops as BTC already shows a decline in the substructure after the price measure didn’t swing above the $108,000 level three weeks ago.
BTC has achieved two consecutive lows in the substructure over the past two weeks, trading into the daily demand zone earlier last week, logging $91,176.94 per week.
After purchasing from the demand zone, the price rose at $102,000 to an internal supply zone validated at 50% Fibonacci level, selling that zone to close the week at $96,475.03.
In CME, where Bitcoin futures are most traded, interest opened last week fell as traders closed contracts due to uncertainty caused by Trump’s tariffs.
Meanwhile, the Spot BTC ETF recorded a positive week as net flow printed $208.30 million despite a big spill over the past two days.
Price outlook
If prices remain above the demand zone of daily time frames, the overall structure of Bitcoin should remain bullish despite the price drop in the substructure.
However, daily closures below the demand zone, i.e. the $90,000 level, can trigger a sale to support levels below the $84,000 level.
BTC traded at $97,624.73 at the time of publication.
Ethereum
After exceeding the March 2024 high and not breaking, Ethereum prices have been in a downtrend understructure since mid-December 2024.
In the four-hour time frame, the price recorded a consecutive low, the latest low of $2,148.00, which reached the beginning of last week. Prices have since improved, closing at $2,632.16 last week.
Open interest in the vinanence, where Ethereum futures are most traded, indicates a decline in the number of open contracts.
Meanwhile, the Spot ETH ETF recorded an aggressive influx on all days last week. Friday totaled $420 million over the week, except for Friday, which recorded an influx (or outflow).
Price outlook
The next possible zone for which ETH prices will fall is the main support zone, which is around $2,200. Trump is planning to impose a 25% tariff on steel and aluminum, as well as a new round of retaliatory tariffs on trade partners, which quickly puts more uncertainty on ETH prices It could push up.
ETH trades at $2,640.05 at the time of publication.
