Bitcoin, XRP, Dogecoin Dip, Ethereum Holds Steady As Crypto Market Consolidates

Author: Khyathi Dalal | February 04, 2025 03:57pm

Cryptocurrency markets are trading lower on reduced volatility on Tuesday.

Cryptocurrency	Price	Gains +/-
Bitcoin (CRYPTO: BTC)	$98,858.48	-2.9%
Ethereum (CRYPTO: ETH)	$2,747.65	+0.8%
Solana (CRYPTO: SOL)	$207.51	-2.2%
XRP (CRYPTO: XRP)	$2.58	-3.1%
Dogecoin (CRYPTO: DOGE)	$0.2646	-4.6%
Shiba Inu (CRYPTO: SHIB)	$0.00001571	-2.4%

Notable Statistics:

• IntoTheBlock data shows large transaction volume increasing by 60.8% and daily active addresses rise by 14.3%. Transactions greater than $100,000 are up from 9,766 to 14,810 in a single day. Exchanges netflows are down by 138.6%.
• Coinglass data reports 150,405 traders were liquidated in the past 24 hours for $436.49 million.

Notable Developments:

• Could The Trump-Established Sovereign Wealth Fund Invest In Bitcoin, Nvidia, TikTok?
• FTX Repayments Begin February 18, Claims Under $50,000 Eligible
• Coinbase Says It’s Become UK’s Largest Crypto Exchange After Securing Regulatory Approval
• El Salvador Goes Bigger on Bitcoin: Daily Purchase Jumps 10x Amid Market Slump
• Meme Coin Index ‘Doge Jones’ Launches App Including DOGE, SHIB, BONK
• What’s Going On With Bitcoin Mining Stocks Tuesday?

Top Losers:

Cryptocurrency	Price	Gains +/-
Fartcoin (CRYPTO: FARTCOIN)	$0.6793	-16.2%
JasmyCoin (CRYPTO: JASMY)	$0.02357	-9.3%
SPX6900 (CRYPTO: SPX)	$0.8109	-8.7%

Trader Notes: Despite the government’s announcement of a Crypto Task Force, Bitcoin prices continue to decline.

Crypto Con highlighted that Bitcoin has spent 583 days—about 1.6 years—moving sideways this cycle, compared to just 175 days of meaningful upside.

This means patience is essential, as the next 30-day+ sprint of strong price action will make the wait worthwhile. “Patience is important!” the trader emphasized.

So far this cycle, Bitcoin has spent about 583 days ranging (going sideways) or about 19.5 months or 1.6 years.

By contrast, Bitcoin has spent just 175 days making meaningful price action to the upside, or a little less than 6 months.

That means most of the time here you spend… pic.twitter.com/VNm0Fduxcr

— CryptoCon (@CryptoCon_) February 4, 2025

More Crypto Online noted that Bitcoin has yet to confirm a full 5-wave pattern.

A move higher without breaking today's low could push BTC above $103,220.

However, if today's low breaks, a deeper correction could test $93,628, with a possible drop to $75,000-$82,000 if that level fails.

For now, micro support is holding as traders watch for signs of further upside.

Meanwhile, crypto trader CJ expects Bitcoin to hit the $95,000-$96,000 range.

$BTC

H1 level of interest for longs.

Interested sub 97k. But would like to see 95-96k tagged. pic.twitter.com/Ys3XD41ncJ

— CJ (@CJ900X) February 4, 2025

Read Next: 

• Dogecoin, Shiba Inu, Popcat Have Corrected Multiple Times And Bounced Back, D.O.G.E Set To Do The Same, Trader Argues

Image: Shutterstock

Posted In: $BTC $DOGE $ETH $JASMY $SHIB $SOL $SPX $XRP