BAT Is Losing Ground
Basic Attention Token (BAT) is up 2.2% this week, trading at $0.2352, outperforming the broader market where Bitcoin (BTC) has gained 1.1%, reaching $105,026. However, the overall crypto market appears to be losing upward momentum.
BTC’s resilience above $100,000 has been bolstered by Donald Trump’s first executive orders, including the high-profile pardoning of Silk Road founder Ross Ulbricht. While this has provided some support, the broader crypto industry’s expectations are much larger. Investors are eagerly anticipating executive orders to officially add Bitcoin to the U.S. federal reserves. Failure to meet these expectations could lead to further market stagnation or decline.
For BAT, while it has performed well this week, its outlook remains cautious. Should the broader market weaken, BAT could face significant pressure, potentially declining towards its key support level at $0.2000, representing a further 14.5% downside.
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