Investors Remain Cautious as Cryptocurrency Market Awaits Tuesday
On April 2, known as “Liberation Day,” as described by the Trump administration, investors are still exercising caution regarding the “dirty 15” countries.
Over the past day, market leaders Bitcoin (BTC) and Ethereum (ETH) have shown only moderate growth. However, several altcoins have become true market drivers, including Walrus (WAL), EOS, Curve Finance (CRV), and AI16Z. According to CoinMarketCap, WAL has increased by 22% in the last 24 hours, EOS has risen by 15.19%, CRV has gained 18.18%, and AI16Z has climbed by 16.75%.
Additionally, according to Cryptorank, certain smaller tokens have yielded considerable returns, such as RFC (+293%) and Doginme (+58.9%). These figures highlight that despite the cautious atmosphere, speculative momentum is still ongoing in specific market segments.
Are Institutions Still Accumulating Bitcoin?
Despite recent uncertainties, institutional participants continue to show confidence in Bitcoin. Strategy (formerly known as Synthesis) has added 22,048 BTC to its corporate treasury at an average price of $86,900 per BTC, spending $1.92 billion on this latest batch.
Meanwhile, stablecoin issuer Tether acquired 8,888 BTC in the first quarter of 2025 (valued at approximately $735 million at the time). These large purchases bolster the view that major institutions are positioning themselves for Bitcoin’s potential long-term appreciation.
What Are the Key Technical Levels for Bitcoin?
Bitcoin’s current price action indicates consolidation. A key resistance level is close to $84,824, in line with the 20-day Exponential Moving Average (EMA), which is a critical short-term trend indicator. Chart analysis also suggests that BTC may be in a potential accumulation phase, above the currently established key support level estimated to be near $76,180.
If BTC fails to reclaim the 20-day EMA soon, it may retest lower support levels. Notable technical analyst Ali Martinez points out that Bitcoin’s “gap” below $80,000 indicates minimal established technical support until the price area of $70,000.
What Is the Outlook for the Broader Altcoin Market?
The Crypto Fear and Greed Index has dropped to 24, indicating “fear” among market participants. At the same time, Bitcoin’s market dominance (BTC.D) remains above 61%, which typically suppresses the conditions necessary for a sustainable, broad-based altcoin market rally.
The chart tracking the total market capitalization of altcoins (often referred to as Total2) highlights a decline in the Relative Strength Index (RSI), a commonly used momentum indicator. The RSI currently hovers around 40.40. This RSI level suggests that altcoins may maintain a neutral to slightly bearish short-term posture.
However, rebounds from these RSI levels could indicate a resurgence in altcoin momentum. If the RSI moves back above the 50 level, the altcoin market may witness significant rallies.
Analysis using Fibonacci retracement levels further indicates key areas to watch. If the total market cap of altcoins holds above the 1.0 Fibonacci level (approximately $923 billion), a potential breakout may occur.
The next major resistance target based on this analysis aligns with the 1.618 Fibonacci extension level (approximately $11.6 trillion). However, if the broader market weakens further, lower Fibonacci support levels at 2.618 ($630 billion), 3.618 ($450 billion), and 4.236 ($380 billion) may come into play.
