OP continues to reflect the general weakening trend of the cryptocurrency market as it appears among the top 3 biggest losers in the top 100 coins by market capitalization. At the time of writing, the price of OP has dropped 16%, pushing the total loss since November 20 to 27%, creating significant pressure for investors.
Will bearish pressure on OP continue to dominate?
The chart clearly shows that the bears are in control as Optimism (OP) drops to a new low, breaking through the $0.30 level. This downward momentum has been driven by capital flowing into Bitcoin (BTC), as BTC plunged below $85,000, prompting traders to rush in for discounted buys.
Additionally, the boom in (privacy coins) amid a weak market has also drained capital from OP, causing its price to continuously decline over the past week. The bears are clearly dominant, as indicated by the Bull Bear Power index (BBP) with increasingly larger histogram bars, while the widening Bollinger Bands signal heightened volatility.
The recent drop followed a period of sideways movement characterized by consecutive lower highs and lows. However, on the 4-hour timeframe, a base zone with a bullish Doji candle has appeared, suggesting a potential bullish counterattack—a phenomenon often seen after prices hit new lows.
Nguurce: TradingView
If altcoins continue to weaken alongside BTC, OP could face additional pressure unless the bulls manage to regain control in time. Although the bears still hold the upper hand, the bullish reactions as OP broke below $0.30 indicate that there is still hope in the market. The downward trend is not only driven by technical factors and capital rotation but also clearly reflected in on-chain activity moving in the same direction.
Decrease in trading, liquidity, and TVL
Previously, monthly transaction numbers reached 57.4 million, but the latest forecast shows that the end-of-month figure will be significantly lower. At the current pace, the total number of transactions is expected to stop at 55.6 million, while only 39.3 million have been completed so far.
During the same period, Total Value Locked (TVL) dropped 4% in just 24 hours, down to $501.4 million. On-chain stablecoin market capitalization also fell by 2.76% over the past week, reflecting capital outflows. These signals combine to create consistent downward pressure on OP’s price day by day.
Nguurce: Dune
Conclusion
Optimism (OP) has experienced a sharp decline over the past week. While the bulls are showing signs of returning, their strength remains limited. For OP to truly reverse, the price needs to break above $0.31 and aim for the $0.40 level.
The key is to watch for a series of higher highs and higher lows—a clear sign of a change in market structure. If this does not occur, the bears will maintain their advantage, and further declines are likely unavoidable.
SN_Nour
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Trump’s ultimatum to Iran is nearing; the price of Bitcoin is fluctuating around $68,000
Bitcoin traders are watching U.S. President Trump’s final ultimatum to Iran, and market sentiment is tense as the price of Bitcoin moves around the $68,000 mark. Despite a quick rebound after the selloff, investors need to monitor changes in the geopolitical situation and their impact on Bitcoin.
GateNews26m ago
Iran Strikes Saudi Jubail: Tensions in the Strait of Hormuz Trigger a Bitcoin Drop and a Surge in Oil Prices
Iran launched a missile and drone attack on Saudi Arabia’s Jubail on April 7, triggering a large fire and further escalating tensions in the Middle East. Iran rejected the U.S. peace plan and put forward a 10-point counterproposal, indicating that it is seeking to consolidate its advantage in negotiations. The market response was clear, with Bitcoin and precious metals prices fluctuating; the situation ahead will affect global energy and financial markets.
GateNews46m ago
Curve DAO approaches 0.20 USD key support: Can CRV stop the decline and rebound?
The Curve DAO (CRV) price is approaching the $0.20 critical support level, and the short-term trend is facing a choice. Although there are slight signs of stabilization, the overall downward momentum has not been resolved. Technical and fundamental risks are prompting traders to watch whether $0.20 can hold.
GateNews1h ago
Worldcoin is nearing its all-time low: the $326 million buy order failed, and $0.20 is the next target for WLD
Worldcoin (WLD) price continues to hover near its historical lows, currently at $0.2482, and the near-term trend remains weak. Despite large inflows of institutional capital such as Eightco Holdings, there are still no signs of a rebound in the market—if anything, it has intensified supply pressure. On-chain data supports the risk of selling off; once the key support level of $0.2455 is broken, it could quickly drop to $0.20. Overall, WLD faces structural pressure, and the market is focused on whether it can break through the historical low.
GateNews1h ago
Polymarket: Iran ceasefire probability is only 3%, and the surge in oil prices is hitting Bitcoin’s price trend
The expected shift around Iran ceasefire talks is toward pessimism, and the trading market shows that the ceasefire success rate set by Trump is only 3%. Iran rejected a short-term ceasefire proposal and put forward long-term political and economic conditions, further compressing the room for negotiations. Energy markets are strengthening in expectation, and the probability that WTI crude for April, which hit $120, rises to 77%. Crypto assets such as Bitcoin are under pressure during the phase when risk appetite declines, with capital flowing into traditional safe-haven assets.
GateNews1h ago
Grayscale’s New Bets: 43% of Its AI Fund Into One Coin (It’s Not NEAR or RENDER)
Grayscale increased its investment in TAO within its AI-focused crypto fund from 31% to over 43%, highlighting strong confidence in the project amid a selective approach to other AI tokens. This move may influence market sentiment around TAO.
CaptainAltcoin1h ago
