Can Bitcoin Hold $71K? DOGE, XRP, ADA Bleed After US-Iran Ceasefire Rally

• Dogecoin, XRP, and Cardano led losses among the top 10 cryptocurrencies by market capitalization while Bitcoin held above $71,000.
• The broader crypto market edged lower but remained above the $2.5 trillion level.
• Retail sentiment on Stocktwits weakened across major altcoins, with XRP and Cardano shifting into ‘bearish’ territory.

Meme token Dogecoin (DOGE), Ripple’s XRP (XRP), and Cardano (ADA) led losses among crypto majors on Thursday morning while altcoins bled even as Bitcoin (BTC) held above $71,000. 

The dip comes after the market rallied on President Donald Trump's announcement of a two-week ceasefire in the U.S.-Iran war.  

Bitcoin’s price edged 0.3% lower in the last 24 hours to around $71,400, after hitting an intra-day high of over $72,600, according to CoinGecko data. Retail sentiment on Stocktwits around the apex cryptocurrency trended in ‘neutral’ territory over the past day, accompanied by ‘normal’ levels of chatter.

The overall cryptocurrency market fell 0.7%, but held above the $2.5 trillion mark. Among the top 10 cryptocurrencies by market capitalization, Dogecoin, Ripple, and Cardano led losses. Dogecoin’s price fell 3.4% to around $0.09, while XRP’s price fell 3.3% to $1.34 and ADA’s price dipped 2.3% to around $0.25.

Solana (SOL) and Ethereum (ETH) were also trading in the red. Solana’s price fell 2.5% to around $82.53, while Ethereum’s price dipped 2.6% to under $2,200. Binance Coin (BNB) dipped 1.8%, but held above $600.

Retail Sentiment Weakens Across Major Altcoins

On Stocktwits, retail sentiment around Cardano continued to trend in ‘bearish’ territory over the past day, while sentiment around the other two altcoins ticked lower. XRP saw retail sentiment fall to ‘bearish’ from the ‘neutral’ zone, while sentiment around Dogecoin moved to ‘neutral’ from ‘bullish’ territory. Among the three, only Cardano saw retail chatter at ‘high’ levels.

Solana stood out with retail sentiment on Stocktwits trending in ‘bullish’ territory over the past day, while retail sentiment around Ethereum remained in ‘neutral’ territory, and sentiment around BNB stayed in the ‘bearish’ zone. 

Ethereum was the only one to see chatter move to ‘high’ from ‘normal’ levels. Chatter around Solana remained at ‘high’ levels, while BNB saw message volumes at ‘extremely high’ levels.

Analysts Split On Bitcoin’s Next Move

A CryptoQuant analyst said Bitcoin’s stress cycle appears to be nearing an end, though it has yet to show clear signs of reversal. They noted that risks remain, but said it could be a buying opportunity for long-term holders. 

In a post on X, MN Fund founder and chief investment officer Michael van de Poppe said Bitcoin’s price could shoot to $72,000 if it continues to hold these levels. However, analyst Ted Pillows said the next support level for Bitcoin’s price is around $69,000 and $70,000. Provided Bitcoin’s price stays above those levels, it could see “one final pump,” Pillows wrote in a post on X.  According to him, Bitcoin is yet to shed gains and head towards lower lows. 

Bitcoin’s price remains more than 40% below its record high of over $126,000 seen in October last year. The cryptocurrency has gained more than 7% over the past week and is 4.43% in the green for April so far.

Read also: Four Accounts Win $600,000 On US-Iran Ceasefire, Adding To Suspected Insider Trades On Polymarket

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