A crypto analyst hinted at a potential price decline if bearish factors remain in the market. As bulls lose steam, Bitcoin (BTC) traders have faced consistent sell pressure in the last 72 hours. This led to a free fall in Bitcoin and altcoin prices below multiple resistance. The crypto market leader trades at $97,752, falling 3% today and 5% in the last seven days. Experts Point Potential New Level Amid the present market conditions, crypto trader Ali Martinez says the $92,180 has become critical support for the BTC price. Whales threaten This mark by dumping assets and moving funds to centralized exchanges. Per the Market Value to Realized Value (MVRV) bands, $74,400 becomes the next target if the price fall continues. Furthermore, the indicator shows that Bitcoin and the broader crypto market have faced a negative impact since the start of the year. This weakness has dropped metrics below the points needed for an upward swing to the cycle peak. With experts’ caution warnings, traders project sideways until positive sentiments dominate macro markets. This year, Bitcoin’s price dropped below $100k during recurring dips that wiped out billions from the market. From its all-time high above $107K, the asset trades above $96K, recording dwindling support levels. It should be noted that the start of the year came with rising optimism following the outcome of the US Presidential elections and soaring institutional interests. Institutional investment has slowed further, plunging the asset’s price. Based on growing institutional demand, crypto traders marked a $150K bull point. Although present factors constitute a roadblock, the flipside effects could spur a higher price run above the 2024 level, where it hit multiple all-time highs. Funding Rates Threaten Price Climb While growth metrics emerge, certain factors limit its space, adding to macro effects on the market. On-chain data shows a decline in open interests, leading to forced liquidations. Traders are also taking short positions due to plummeting funding rates as bear sentiments spike. “The price is dropping below the accumulation structure, meaning support levels are breaking, triggering panic selling in the market… This situation can be interpreted as small investors being stopped and removed from the market while large players continue accumulating during the dip. It is a classic case of market manipulation or a “whales’ accumulation phase,” TraderOasis wrote.
2025-02-05 01:07
Bitcoin historian Pete Rizzo has identified a wallet address of a “diamond hands” whale, showcasing long-term gains associated with HODLing. According to Rizzo, an ancient Bitcoin whale that mined BTC in the network’s early days has finally moved its coins mined some 15 years ago. Specifically, the mysterious BTC whale transferred 50 BTC, now worth $5 million. Reaping Profits Through HODL Strategy A Bitcoin whale, whose BTC sat gathering dust since being mined in 2010, has finally woken up. According to Pete Rizzo, the miner, who HODLed for 15 years — received the 50 Bitcoins when the crypto was trading at $0.10 per coin, only to see them grow into a staggering $5 million as BTC crossed the $100,000 price mark. https://twitter.com/pete_rizzo_/status/1886589307369959828 The investment in question entails “Satoshi-era” coins, which were created when the foremost crypto’s pseudonymous creator, Nakamoto, was still active online in forums. A Bitcoin whale in crypto jargon refers to investors who hoard large amounts of digital coins and don’t touch them for years. It’s not clear from blockchain data whether such “HODLers” are individuals or firms, though given the age of the coins back to the earliest days of Bitcoin, it’s most likely an individual in this case. Nonetheless, such investors make enormous gains as a result of the long-term HODLing. The wallet’s movement created a lot of buzz on social media, with speculation that it could be linked to the recently-pardoned Silk Road creator Ross Ulbricht . Notably, the transaction leveraged three key Bitcoin blockchain features, including SegWit (Segregated Witness) for enhanced scalability, Taproot for increased privacy and smart contract capability, and RBF (Replace-By-Fee) — allowing for fee adjustments if necessary. Despite utilizing these fairly new features, the mysterious investor did not make an initial test transaction before moving the $5 million worth of BTC. Notably, Bitcoin users typically send a smaller amount of crypto first to verify the receiving address. In recent days, Bitcoin has witnessed wild price swings — plummeting to as low as $92,876 on Monday after President Trump threatened tariffs against America’s largest trading partners, spurring fears of inflation and tighter monetary policy. Bitcoin’s price has rebounded slightly after Mexico and Canada reached deals with the US, changing hands at $98,614 as of publication time.
2025-02-04 23:07
The outlook for altcoins appears grim relative to Bitcoin as a fresh trade war potentially exploding between the U.S. and its major trading partners risks destabilizing the world economy. Still, some coins are flashing bullish hints. XRP, for instance, staged an impressive 50% surge in January, outperforming the broader crypto market following bullish regulatory developments for Ripple. And one popular analyst suggests that the crypto could be poised for a meteoric rally based on two possible catalysts. XRP ETF Launch To Spark Price Explosion In a recent post on X, an analyst going by the online moniker Digital Asset Investor suggested that spot U.S.-listed XRP exchange-traded funds (ETFs) launching would trigger a parabolic rise for the Ripple-linked cryptocurrency. In 2024, the Securities and Exchange Commission (SEC) approved issuers to list spot Bitcoin and Ether ETFs in January and July, respectively. However, other ETF filings, including proposed spot XRP products, languished — particularly due to the long-standing legal spat between Ripple and the securities regulator. Now, with pro-crypto President Donald Trump back in the Oval Office, commentators are anticipating the approval of XRP exchange-traded funds in 2025. Investment giant JPMorgan estimates that XRP ETFs, including those proposed by asset managers Bitwise , 21Shares , Canary Capital , WisdomTree , and Grayscale , will attract upward of $8 billion in investor money into XRP. Notably, Bitcoin was valued at $44,480 on Jan. 10, the day of Bitcoin ETF approval. The world’s largest crypto then rocketed to as high as $73,780 in March 2024. The price boom was juiced by the SEC’s greenlighting of spot BTC ETFs and the mountains of cash that ensued. The price of XRP has grown by over 450% since Trump won the U.S. presidential election on Nov. 6. As of Feb. 4, XRP’s market cap hovers at around $150 billion, according to CoinGecko. “No digital asset is more coiled than XRP,” the analyst postulated. XRP Lawsuit Resolution Is Another Tailwind Digital Asset Investor also pointed to the resolution of the Ripple vs. SEC lawsuit as another potential driver for a mega XRP upsurge. The SEC initially unleashed its lawsuit in December 2020, accusing Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen of raising over $1.3 billion via an unregistered securities offering of the XRP token. Ripple gained significant ground in July 2023 when Judge Analisa Torres found that XRP sales to retail investors on exchanges did not break securities laws. However, the same court slapped Ripple with a $125 million fine in August 2024, asserting that the company’s institutional XRP sales violated securities regulations. With Gensler exiting amid the lawsuit’s appeal stage , pro-crypto acting SEC Chair Mark Uyeda is expected to adopt a more friendly approach than his predecessor, fueling speculation that a settlement could be on the horizon.
2025-02-04 23:04
Ethereum has been in a downtrend in recent weeks since slumping below the $4,000 psychological threshold in mid-December. The world’s second most valuable crypto has since fallen by over 20%, changing hands at $2,790 at the time of writing. Nevertheless, the Donald Trump-linked DeFi protocol World Liberty Financial and President Trump’s second son, Eric Trump, continue to be bullish on Ether. Notably, World Liberty Financial keeps scooping up more ETH. The venture accumulated 86,000 ETH yesterday, pushing its total stockpile to $421 million as of Feb. 2, with Ethereum constituting 65% of its portfolio. In a post on X, Eric told his 5.5 million followers on X that “it’s a great time to add ETH.” “In my opinion, it’s a great time to add $ETH. You can thank me later,” he said, before later modifying the post to remove the “you can thank me later” phrase. Eric’s comments came after a Trump tariffs-spurred crypto meltdown on Feb. 2 and Feb. 3, which saw Ether plunge 20% to a local low of $2,460. The altcoin king has since recovered slightly after his father agreed to pause the planned implementation of the trade tariffs aimed at Canada and Mexico as negotiations with the countries continue. Trump-Backed World Liberty Financial Disputes Allegations Of Selling ETH Arkham Intelligence data shows that World Liberty Financial moved millions worth of ETH and SETH to a Coinbase Prime deposit address. The project’s treasury, which held roughly $421 million in assets on Sunday based on Arkham Intelligence’s portfolio archive tool, now holds around $33 million in total assets. However, World Liberty Financial dismissed claims of selling its assets despite the volatile market movements. “We’re making routine movements of our crypto holdings as part of regular treasury management, and payment of fees and expenses and to address working capital requirements,” the protocol posted on X (formerly known as Twitter). “To be clear, we are not selling tokens — we are simply reallocating assets for ordinary business purposes.” Transferring tokens to a centralized exchange usually indicates an intention to dump, but given Eric Trump’s bullish tweet, it could seem like World Liberty Financial is holding ETH for the long haul.
2025-02-04 22:59
Ethereum price continues its rocky patch alongside the wider digital asset market. This phase has seen huge whale offloads, lowering institutional demand in the altcoin for the second consecutive week. At press time, ETH price trades at $2,828, a sharp 12% upsurge in the last 24 hours. Amid plunging numbers, whales have recorded large buys repositioning assets ahead of the next bull run. Whale Buys Huge ETH Holdings In the last 24 hours, several large holders have moved the asset off exchanges to other custodians while others recorded outright buys. Crypto analytics firm, Lookonchain wrote on X that a wallet belonging to “7 Siblings” acquired 5,382 ETH worth approximately $14.5 million. Previously, the whale picked up 45,047 ETH, spending $111 million after the price crashed below $2,500. Overall, the whale acquired $126 million worth of Ethereum, “buying the dip” while retail holders exited the market. This strategy is effective with large holders as they shape general sentiments and usually purchase in dips, anticipating cycle peaks. Lookonchain said 7 Siblings purchased a large amount in August after the price plummeted. The recent acquisition was met with soaring optimism from the community after days in the doldrums. Although the asset continues in the red zone, hourly trading shows signs of a slight jump as accumulation picks up. CryptoQuant researchers expect short-term accumulations signaling slight upticks. “ All players in the accumulation zone have been liquidated. We can see that players have been sidelined due to the decline in the open interest indicator. If we can break above the market breakdown zone, it will be positive. Funding rates were declining but have now started to rise. I believe that those expecting an upward move will be manipulated one last time…” they added. Can Institutional Traders Spark A Price Jump? Recent inflows can help swing Ethereum’s price despite low sentiments from holders and traditional players. Last year, wealth managers tipped the ETH to record the highest growth because of its staking feature and upcoming spot ETFs. However, spot Ethereum ETFs fell below par compared to Bitcoin products , which attracted large numbers. Several analysts opine that institutional holders can mark a turning point with Donald Trump’s inauguration . The altcoin remains in a good position to lead a possible altcoin season as bulls flag a $5K mark. Among reasons for the expected inflow to affect its price is the growing adoption of decentralized finance (DeFi) protocols.
2025-02-04 16:55
