Cryptocurrencies Price Prediction: Altcoin, Bitcoin & PancakeSwap – European Wrap 21 April
|Altcoin Season Beckoning: What's behind Sui, Stacks and Fartcoin price rallies?
The cryptocurrency market gains strength on Monday, led by select altcoins like Sui, Stacks (STX) and Fartcoin, following another round of instability in United States (US) markets caused by President Trump's administration's plan to shake up the Federal Reserve (Fed), and possibly fire Fed Chair Jerome Powell. The US dollar (USD) tumbles, with the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, hitting a three-year low, with markets interpreting the White House's direct attack on Powell as threatening the central bank's independence, FXStreet reported earlier today.
Bitcoin Price Forecast: BTC soars above $87,000 amid $500 million Bitcoin Reserve Bill debate on Wednesday
Bitcoin (BTC) price breaks and trades above its key resistance level of $85,000 at the time of writing on Monday after facing multiple rejections the previous week. Institutional demand shows mild recovery, as it recorded nearly $16 million inflow into Bitcoin spot Exchange Traded Funds (ETFs) last week. Moreover, the Texas Senate Bill 21 aims to establish a Strategic Bitcoin Reserve, with the Texas House set to debate it on Wednesday.
Why is PancakeSwap rallying today?
PancakeSwap (CAKE) breaks the downtrend and surges more than 3% on the day to exchange hands at $2.00 at the time of writing on Monday. The Decentralized exchange (DEX) native token tumbled to $1.52 on April 7 as United States (US) President Donald Trump’s tariff war wreaked havoc on global markets, including crypto.
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