Market picture
Crypto market capitalization rose another 3.4% in 24 hours to $3.5 trillion, recovering to levels seen before the January 7 sell-off. Both the decline at the beginning of the month and the latest recovery are due to U.S. economic data, which temporarily has an unusually strong impact on cryptocurrencies. Recently, crypto lacks its own drivers, other than Ripple's case against the SEC and its impact on XRP.
Bitcoin briefly climbed above $100K on Wednesday evening and Thursday morning, stabilizing near $99,600 by the start of active trading in Europe. The price closed Wednesday above the 50-day moving average (bullish signal), but this may just be another test of a meaningful round level. The selling activation after surpassing $100K is still clearly visible.
The XRP price soared to $3.20, pulling back later to $3.0. The coin was only above this mark for minutes in January 2018. This is an area of historical highs where you should prepare for increased volatility. Bulls are intrigued by the potential for a Fibonacci extension pattern with a potential target of $4.40. On the other hand, many long-term holders will probably want to get rid of this coin after years of losses, and some will want to lock in profits after a 10-fold increase in two years.
News background
The average purchase price through the Bitcoin-ETF is $94K, and falling below that level poses risks of sell-offs in the BTC-ETF.
Thanks to developments in blockchain infrastructure and clarifying legislation, 2024 was a positive year for USDC, Circle's annual report notes. Compared to 2023, the asset's turnover increased by 78%.
The U.S. SEC has extended by 45 days the deadline for a decision on an application to convert an index fund from Bitwise into an ETF. The Bitwise 10 Crypto Index Fund (BITW) product tracks the 10 “most valuable proven cryptocurrencies” weighted by market capitalization.
According to Bloomberg, the CFTC may open an investigation against Crypto.com. The commission questioned the legality of the exchange's futures contracts, which allow users to bet on sporting events.
Trade Responsibly. CFDs and Spread Betting are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.37% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider. The Analysts' opinions are for informational purposes only and should not be considered as a recommendation or trading advice.
Recommended Content
Editors’ Picks

BNB price enters 7-day winning streak as Binance liquidates over $5.9 billion from BTC, ETH and SOL holdings
Binance Coin (BNB) price surged past $650 on Wednesday, marking a 15% increase over seven consecutive days of profit. Market reports suggest that recent trades executed by Binance’s parent company could drive further BNB price gains.

Dogecoin stabilizes at $0.25 as PEPE, TRUMP near double-digit losses
Dogecoin (DOGE) price holds firmly above the $0.25 level on Wednesday, while on-chain data links DOGE’s resilient performance to institutional interest and long-term investors’ reluctance to sell the token amid Exchange Traded Funds (ETFs) speculations.

Trump’s tariffs shake crypto market, Bitcoin’s future uncertain
Donald Trump’s new tariffs have caused turbulence in the crypto market, leading to a sharp drop in total value and billions in liquidations. While uncertainty remains, some analysts believe these trade policies could create long-term opportunities for Bitcoin.

Solana Price Forecast: SOL gains ETF boost amid $3 billion unlock fears
Solana is down 1% on Tuesday following negative sentiment surrounding its upcoming $3 billion token unlock. Meanwhile, Franklin Templeton is likely entering the race for a Solana exchange-traded fund following its filing for a Solana Trust in Delaware.

Bitcoin: BTC shows weakness, bears aiming for $90,000 mark
Bitcoin price hovers around $97,000 on Friday after losing nearly 5% in the last three days. CryptoQuant weekly report shows that activity on the Bitcoin network has declined to its lowest level in a year.

The Best Brokers of the Year
SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.