Crypto markets stabilize, Dogecoin weakens amid US recession fears and global volatility
Jakarta, Pintu News – The price of Bitcoin (BTC) has remained around USD 85,000 (approximately Rp1.427 billion) in the past 24 hours, despite several major altcoins experiencing declines, including Dogecoin (DOGE) which plunged 3%. This comes amid reduced tariff concerns, but increased anxiety over the possibility of an economic recession in the United States in 2025.
Economic Uncertainty Casts a Shadow on Crypto Market Sentiment
The crypto market is showing resilience despite rising recession fears. According to SignalPlus’ Augustine Fan, a number of prominent financial figures have started warning that a recession in the US is almost inevitable. In fact, prediction markets indicate a 40-60% chance of recession this year.
Fan believes that public perception can shape market reality, especially in a sector that is heavily influenced by sentiment such as cryptocurrency. He added that the high volatility in the stock market has only strengthened Bitcoin’s position as a store of value, especially after the narrative had faded in recent months.
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Crypto Asset Performance: DOGE Weakens, Bitcoin Survives
CoinDesk 20 (CD20) data, an index that tracks the performance of the top 20 crypto assets, shows a decline of almost 2% overall. Dogecoin (DOGE) recorded the most significant decline, while altcoins such as Solana (SOL), Tron (TRX), and Cardano (ADA) lost up to 2.5% each. Assets such as BNB Chain (BNB) and Ripple (XRP) remained relatively unchanged.
On the other hand, Mantra’s OM token had jumped 20% after experiencing a drastic drop of up to 90% in the previous hour. The company’s CEO stated that a recovery plan is in the works, although many analysts remain skeptical of the project’s stability. Around the same time, Story Protocol’s IP token also experienced extreme fluctuations, dropping 20% and then surging back over 30% in just a few hours.
Market Players’ Strategies and Recovery Hopes
In a Telegram broadcast, Singapore-based QCP Capital stated that Bitcoin risk for the short-term is still trending negative, with put positions dominating until June. However, they noted that market sentiment for the medium to long term is improving.
This is reflected in aggressive buying activity on Bitcoin’s $100,000 call option maturing in March 2026. Currently, the option is the most popular contract, with open interest reaching nearly $1.2 billion, signaling investors’ confidence in BTC’s price appreciation potential in the medium term.
The Role of Central Banks and Trade Negotiation Hopes
Jupiter Zheng of HashKey Capital stated that the uptrend in the crypto market received additional support from the Federal Reserve’s statement. The US central bank confirmed their readiness to intervene in the event of a financial crisis due to the ongoing tariff policy.
Zheng also expressed optimism that trade tensions may have peaked, hoping that negotiations between the US and other countries will bring new stability. If this stability is achieved, then confidence in crypto assets will likely increase, especially Bitcoin as an alternative hedging asset.
Conclusion
Macroeconomic uncertainties, including the threat of recession and trade tensions, continue to affect crypto market dynamics. However, Bitcoin’s relatively stable response and growing interest in long-term investment instruments signal that the market is starting to adapt. While some altcoins are showing sharp declines, the narrative of Bitcoin as a store of value is gaining ground again, offering a glimmer of hope amid global uncertainty.
Also Read: XRP: Key to the Future of Global Financial Infrastructure
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.
Reference:
- CoinDesk. Dogecoin Slumps 3%, Bitcoin Steady Around $85K as Traders Fear U.S. Recession. Accessed April 16, 2025.
- Featured Image: Generated by AI