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Bitcoin and XRP took a hit over the weekend, with Bitcoin briefly dipping to $80,000 and XRP sliding to $2.08.
Their price drops sent the Crypto Fear & Greed Index tumbling to its lowest level in 17 months.
Yet, while major coins struggle, Solaxy continues to gain traction – with one top expert thinking it will explode after its presale ends.
BTC and XRP Struggle as Fear Index Enters “Extreme Fear” Territory
The crypto market is exceptionally shaky right now.
Bitcoin has rebounded slightly to $82,900, bouncing off support at $80,000.
But open interest is still down since yesterday – suggesting traders aren’t rushing back in just yet.
Bears still have the upper hand, and while this small rebound is promising, it’s far from a full recovery.
XRP is showing similar signs of life, now sitting at $2.20 after Sunday’s dip.
Spot volumes have surged 122%, hinting that buyers are stepping in – but there’s still a long way to go before confidence fully returns.
The overall market mood remains cautious, with the Crypto Fear & Greed Index now at 20, deep in “Extreme Fear” territory.
That’s the lowest it has been in 17 months, reflecting the uncertainty hanging over traders.
Despite the unease, some experts believe the market has bottomed out.
For example, @CryptoCapo said that a “strong relief bounce is likely” in the next few days.
Why Is Crypto Crashing? Market Uncertainty and Trade Wars Weigh on Investors
The recent crypto slump results from several factors weighing on investor sentiment.
For one, there’s nothing new to get bulls excited.
Last Friday’s White House Crypto Summit was supposed to bring clarity on regulation, but it turned out to be a dud, with no major policy shifts or industry-friendly updates.
Instead of boosting confidence, it left the market drifting with no clear direction.
At the same time, global trade tensions are heating up, adding to the uncertainty.
Trump’s new tariffs – on imports from Canada, Mexico, and China – have led to retaliatory moves, raising fears of a dreaded trade war.
When traditional markets feel the pressure, riskier assets like crypto tend to suffer, and that’s exactly what’s happening now.
Then there’s the macroeconomic backdrop, with traders anxiously watching the Fed.
Many are hoping for another rate cut soon – but that now seems unlikely, at least in the short term.
Ultimately, the market is stuck in “wait-and-see” mode.
Solaxy Presale Explodes as Top Analyst Expects Major Gains for Early Investors
While Bitcoin and XRP are struggling, Solaxy is moving in the opposite direction – and some experts think it could be one of the biggest breakout projects of the year.
This new Layer-2 scaling solution for Solana has been gaining serious traction, with its presale already raising $25.7 million despite the market downturn.
Unlike BTC and XRP, which are still recovering, Solaxy seems to be thriving as investors seek low-cap plays.
Jacob Bury, an analyst for 99Bitcoins, recently called SOLX a crypto with major potential.
He pointed to its strong fundamentals and growing adoption as the main reasons it could take off.
In a recent YouTube video, Bury explained why Solaxy stands out: it tackles Solana’s scalability issues and offers low-cost, high-speed transactions.
It also encourages early investment with market-beating staking yields.
Bury also noted that its X (Twitter) community is exploding, with over 72,000 followers, a sign that interest is picking up fast.
Early investors can now grab SOLX in presale for $0.001658, but that price won’t last long.
The SOLX price rises every few days, meaning those who get in early have a better entry point.
So, while the rest of the market waits for things to turn around, Solaxy looks ready to break out.
If Bury is right, this crypto might defy all the odds.
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