Today the price of Bitcoin has risen, but that of SOL (Solana) and ADA (Cardano) has done slightly better.
However, the markets are in eager anticipation of what the Fed will say, so much so that today’s bull bounce has been strongly limited for now.
The small rebound of Bitcoin
Yesterday, the price of Bitcoin had fallen below $94,000.
In reality, it had been hovering more or less around that threshold since Monday, also and especially due to the anticipation of the Fed.
Last night, however, news came out that triggered a small rebound.
In fact, it has been revealed that next week talks will begin in Switzerland between the U.S. government and the Chinese government to discuss the tariff issue and eventually reach a trade agreement. The mere rumor of these talks was enough to allow the markets to breathe a little.
However, the rebound was very limited, so much so that the price of BTC only returned to the levels of the first of May.
At this moment, Bitcoin is marking a modest +3% compared to yesterday, with a +2% compared to seven days ago and a +27% compared to thirty days ago.
Cardano (ADA) records better returns than Bitcoin and Solana
ADA on the other hand does better.
ADA is the native cryptocurrency of the Cardano blockchain, and today it is marking a modest +4% compared to yesterday.
So in the last 24 hours, it has recorded a slightly better rebound compared to that of BTC, but it remains at -2% compared to seven days ago, and at +25% compared to a month ago.
It should be remembered that currently the price of Cardano is still even at -78% from the all-time highs of 2021, while Bitcoin is at only -11% from the all-time highs of January.
The fact is that the price trend of ADA suffered greatly during the bear-market of 2022/2023, and although in 2024 it managed to register a strong rebound, this was not even remotely enough to recover the glories of the past.
Note that at the end of 2020, before the last major bull run, its price was about $0.1, while in 2023, after reaching all-time highs at $3.1, it had fallen back to less than $0.25. Therefore, during the bear market, it lost almost all the gains obtained during the last major speculative bubble.
In 2024, it managed to climb back above the $1 mark thanks to the Trump trade, but subsequently fell below $0.7. The current level remains by far higher than the bottom of the last major bear-market.
The fact that today it recorded a slightly higher bounce than that of Bitcoin is not of great importance.
The suffering of Solana
The discussion is a bit different for the trend of the price of SOL, the native cryptocurrency of the Solana blockchain.
SOL today gains just over 2%, which is slightly less than Bitcoin, and almost half of Cardano, but in the last thirty days it has gained 47%.
Note that it is still at -50% compared to the historical highs of January.
The suffering of Solana is evident precisely from what happened during 2025.
During the last great bull run, the one in 2021, the price of SOL managed to rise above $200 for the first time in history.
During the subsequent bear-market, it then plummeted to below $10, but by the end of 2023, it had started to rebound, managing to climb back above $100.
During 2024, it first climbed back above $190, and then by the end of the year, thanks to the Trump trade, it managed to climb back above $200.
During the course of 2025, however, after reaching the new all-time high at $294, it started to decline. In other words, the mini-bubble generated by the Trump trade completely deflated.
In fact, in April it returned to $120, in line with the July 2024 quotations, losing more than half of its value from the January peak.
Despite this, in April the burst of the mini-bubble ended, and over the last thirty days it first moved back above $130 and then also above $140.
The period of true suffering in 2025 therefore seems to have ended.
The wait for today’s Fed announcement
Today, however, further volatility could be generated when the Fed releases the details of the decision on interest rates, and especially when President Jerome Powell speaks afterwards.
The point is that the markets have already priced in a possible path of rate cuts, which certainly will not start today and might not even start in June, but should still foresee three cuts of 25 basis points by the end of the year.
If Powell’s words were to convince the markets that this forecast is incorrect, there could be quick and significant repositionings, towards more bull or bear positions.
The point is that the Fed will probably choose to postpone decisions to the coming months, because first it will need to know if Trump’s tariffs will remain in effect or not.