Bitcoin (BTC) Rebounds From $77K Low – Can It Keep Rising? – NASS CRYPTO

Bitcoin might be struggling right now, but it's still the king of crypto. After dipping below $77,000 on Monday evening, it has

Crypto has taken a beating recently, with Bitcoin, Ethereum, and XRP all trading well below their local highs.

But with past cycles as a guide, downturns like this have often set the stage for explosive rebounds.

As we prepare to enter Q2, the question isn’t when BTC, ETH, and XRP will recover – but which offers the best upside.

Bitcoin Rebounds From $77K Low – Can It Keep Rising?

(Image Credit: TradingView)

Bitcoin might be struggling right now, but it’s still the king of crypto.

After dipping below $77,000 on Monday evening, it has since rebounded to $82,650, showing resilience as other altcoins lag.

Market sentiment is still shaky – reflected by the Crypto Fear & Greed Index being at 34.

But beneath the surface, some factors could make Bitcoin the best crypto to buy now.

First, there’s its potential role as a strategic reserve asset.

The Trump administration’s move to create a U.S. Bitcoin reserve, funded by seized BTC, could be huge.

It puts Bitcoin on a path similar to gold, potentially opening the door for national adoption.

Second, last year’s halving has set off a classic supply crunch.

With spot ETFs absorbing tons of BTC while miners produce less, scarcity is really starting to kick in.

Finally, Bitcoin is establishing itself as a macro hedge, moving independently from stocks.

All of this strengthens the case for Bitcoin as the best play.

Ethereum Stuck Below $2K but Pectra Upgrade Could Boost Price

Ethereum is performing worse than Bitcoin – but don’t count it out yet.

It’s trading around $1,950, down over 50% from its December high and below the key $2,000 price point.

That means many holders are still in the red, but historically, times like this have been ideal accumulation zones.

And with Ethereum, some major catalysts are on the horizon.

The biggest one is the Pectra upgrade, set to roll out later this year.

It promises better scalability and lower fees, much like the Dencun upgrade, which boosted DeFi activity in early 2024.

On top of that, the spot ETH ETFs continue to impress, driving institutional inflows.

Add Ethereum’s massive DeFi presence and deflationary model, and it’s shaping up to be a strong bet – especially for those willing to wait for the next altcoin season.

XRP Price Struggles as Major Catalysts Align for Potential Comeback Rally

(Image Credit: TradingView)

R.E.S.P.E.C.T. is due to one of the biggest trends in the market right now.

The Trump administration has set the stage for a pro-crypto era, and figures like Gary Gensler are driving institutional attention to Bitcoin, Ethereum, and other major coins.

With the House Financial Services Committee members now planning to introduce a bipartisan stablecoin bill this fall, the crypto industry could see some valuable regulations coming into play.

However, one of the biggest outpourings of support for crypto has come from the Republican party, especially in the Senate.

Among them, Josh Hawley has been a vocal critic of the SEC’s actions against crypto firms, which he sees as an overreach of federal power.

''The Biden administration is trying to shut down crypto with administrative fiat,'' Hawley argued in a recent statement.

''But Americans are overwhelmingly pro-crypto, and they'll hold Biden accountable for his attempt to shut down innovation in the technology sector and steal economic opportunity from the people who need it most.''

In the past few months, several senators, including Steve Daines, Tom Cotton, and Tim Scott, have voiced their support for crypto and expressed concern over the SEC’s actions.

These senators are members of the Senate Banking Committee, which oversees the banking industry and has jurisdiction over financial technology.

Their support could be crucial in advancing legislation that would provide clarity and regulation for the crypto industry.

As the 2024 presidential election approaches, the issue of crypto could become a key campaign topic.

With the Trump administration known for its pro-Bitcoin stance and Biden administration facing criticism for its anti-crypto policies, the two political parties might converge on some common ground.

This could lead to bipartisan legislation on stablecoins and other pressing issues in the crypto sector.

The Biden administration’s policies have been a source of frustration for many crypto supporters, who see them as an attempt to stifle innovation and harm the industry.

On the other hand, the Trump administration's actions, such as seizing Bitcoin to fund a U.S. crypto reserve, were seen as a positive step by many in the crypto community.

It remains to be seen how the two political parties will approach crypto in the coming months.

However, with the 2