Why Are Bitcoin, Ethereum and Solana Prices Still Rangebound? Experts Explain

Despite modest gains across major cryptocurrencies, the digital asset market remains rangebound. Bitcoin, Ethereum, Solana, and XRP all traded slightly higher on Wednesday morning, reflecting a cautious optimism among investors. However, analysts suggest that ongoing geopolitical uncertainties — particularly U.S. trade policies — are keeping prices in a holding pattern.

Crypto Market Holds Steady as Tariff Talks Resume

The broader cryptocurrency market remains resilient in the face of renewed trade tensions. U.S. President Donald Trump’s return to tariff negotiations has spurred concerns among global markets, but the reaction from crypto investors has been surprisingly muted. Over the past 24 hours, the top 15 cryptocurrencies by market capitalization have posted slight gains, even as traders brace for potential shocks.

Bitcoin, the largest digital asset, is still hovering between $107,000 and $110,000 — a tight range it has maintained for several weeks. Though up 1.5% over the last 30 days, it continues to trade just below its all-time high. Ethereum, too, has shown little volatility, remaining near the $2,500 mark throughout the past month. Solana has followed suit, staying flat around $150 during the same period.

Modest Gains Point to Cautious Optimism

Trading volumes and prices over the last day reveal a cautious but steady confidence in the market. As of Wednesday morning in New York, Bitcoin was priced at $109,659, up 0.7% according to CoinGecko data. Ethereum, Solana, and XRP also saw daily increases ranging from 2% to 4%, signaling growing momentum even as the broader crypto market contracted by 3% in the past 24 hours.

Despite the short-term pullback, the overall market remains robust, with a current valuation of $3.45 trillion — a 35% increase since early April. This upswing marks a clear recovery from April’s decline, which followed Trump’s initial unveiling of his "retaliatory tariffs."

Why Crypto Remains Resilient to Trade War Fears

Some traders have expressed confusion over the market’s apparent disregard for renewed tariff threats. But according to experts, this response is far from irrational. Analysts note that digital asset investors have become increasingly desensitized to the repeated extensions of trade deadlines. With the U.S. now on its third delay in trade negotiations, many are hedging against uncertainty rather than reacting to it.

Bret Kenwell, an investment and options analyst at eToro, told Decrypt that confidence in another deadline extension is high among traders. Trump’s pattern of walking back from aggressive tariff deadlines has become so predictable that it has even inspired memes — and meme coins — mocking his hesitancy to follow through.

“If there is confidence that negotiations will continue or deadlines will be extended,” Kenwell explained, “markets may continue to shake off the headlines.”

Investors Stay Focused on the Bigger Picture

On Monday, President Trump notified 14 countries, including Japan, South Korea, and Thailand, of his plan to impose steep tariffs ranging from 25% to 40%. The measures are scheduled to take effect on August 1, unless a new deal or extension is reached.

While these developments have caused concern among global officials, crypto traders appear unfazed. Rather than reacting to each new announcement, many investors are maintaining long-term strategies — focusing on macroeconomic indicators, inflation data, and institutional adoption of digital assets.

As a result, Bitcoin and its peers may continue to trade within narrow bands in the near future, even as geopolitical tensions rise. For now, the market appears to be signaling patience — waiting for clarity before making its next big move.