Here’s What to Expect From BTC, ETH, XRP & SOL as S&P500 Secretly Mirrors 1998 Cycle

Bitcoin (BTC) and most of the top altcoins have made significant gains this week as global financial markets show signs of a recovery despite the ongoing fears of the US and China not reaching a trade deal. Most importantly, the S&P500 index is repeating a 1998 pattern where a V-shaped recovery ensued after a sharp market decline. As risk assets rebound, here is what traders should expect from BTC, ETH, XRP and SOL price. S&P500 Index Mirrors 1998 Cycle Analyst Julien Bittel on X noted that the S&P500 index underwent a correction that mirrors what happened in 1998 when financial markets crashed after Russia defaulted on debt. This crash caused the market sentiment to become overly bearish before a rally ensued to form a V-shaped recovery. Bittel noted that this pattern appears to be in play again as the stock and crypto markets record price gains. After hitting lows in April following fear around the US-China trade war, the S&P500 has bounced by 12%, the Nasdaq 100 is up 15%, while the BTC price has surged by 26%. If this pattern plays out like it did nearly three decades ago, it would mean that a parabolic rally for risk assets. However, the US dollar continues to struggle after the recent DXY decline to a four-year low, indicating that tariffs remain a major risk to US economic growth. This may cause investors to adopt a risk-off stance, which will impact Bitcoin and altcoins. The risk of the US economy falling into a recession this year also remains high, with data from Polymarket showing that 63% of traders anticipate this event to happen in 2025. At the same time, the lack of any breakthrough in the ongoing China-US trade war suggests that investor confidence remains low, and this may have an effect on the S&P500 and how crypto prices perform in the short term. Bitcoin Price Technical Analysis as Bulls Eye $115,000 The Bitcoin daily price chart shows that the bullish momentum is strong after the RSI broke out from a falling wedge pattern, and eyes a 21% surge to $115,000. The RSI further supports the bullish Bitcoin price prediction after soaring to 70, marking its highest level in 2025. As BTC rallies, it first needs to overcome resistance at $99,689. Doing so will confirm the momentum and the breakout from the falling wedge, and if it crosses the psychological level of $100,000, a new all-time high will be in sight. Ethereum Price Technical Analysis Amid Bearish Headwinds Ethereum’s weekly price chart shows that the largest altcoin remains under bearish pressure despite its bounce from the recent lows below $1,400 after the S&P500 fueled financial market recovery. If it can sustain the upward momentum, it may surge past $2,120 before aiming for the next resistance of $2,800. However, the RSI and the MACD show a grim outlook. The RSI has plunged to 38, suggesting that ETH is under a bearish momentum, while the MACD is also negative, confirming this bearish thesis. To confirm a bullish Ethereum price prediction, both the RSI and MACD need to cross into bull territory. XRP Price Technical Analysis as Ripple Eyes $3 The daily XRP price chart also shows that an upward trend may be what’s next for this top altcoin after breaking out of a symmetrical triangle pattern. This breakout hints towards an 11% rally to resistance at $2.50. If Ripple flips this resistance level, it may form the next bullish break past $2.93 to potentially create new highs, with this formation supporting a bullish XRP price forecast. Solana Price Technical Analysis Solana price also eyes massive gains alongside the S&P500, with the monthly chart indicating that a parabolic 2,440% rally is looming that may push SOL past $400. This upswing is seen in the rounding bottom pattern, where a breakout to these highs will be confirmed if SOL overcomes resistance at the neckline of $208. Summary of Impact of S&P500 on Crypto Prices The S&P500 is mirroring the 1998 cycle, where the index rebounded with a V-shaped recovery after experiencing a sharp decline. If history rhymes, this index may be on the verge of an upswing that may bode well for other risk assets, including BTC, ETH, XRP, and SOL, as these altcoins anticipate gains. Frequently Asked Questions (FAQs) A recovery in the S&P 500 index may bode well for crypto prices as it suggests that appetite towards risk assets is surging. BTC price eyes an all-time high of $115,000 after breaking out from a falling wedge pattern. Meanwhile, ETH price remains under bearish pressure and needs to break past $2,120 to confirm the resumption of an uptrend. XRP and SOL can lead a recovery across the broader market as price charts show a string technical outlook. ✓ Share: muthoni Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience dissecting blockchain trends, price movements, and market dynamics. With a sharp eye for technical analysis and an in-depth understanding of on-chain metrics, she delivers insightful, data-driven content that helps investors navigate the fast-paced world of digital assets. Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss. Source: https://coingape.com/markets/heres-what-to-expect-from-btc-eth-xrp-sol-as-sp-500-secretly-mirrors-1998-cycle/