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Crypto Price Today: The cryptocurrency market is experiencing another day of high volatility, with major assets facing significant price swings. Global macroeconomic events, including new trade tariffs imposed by the U.S., have increased uncertainty, leading investors to reconsider their positions in digital assets.
As of February 3, 2025, Bitcoin (BTC) is experiencing significant volatility, with its price currently at $92,855, reflecting a 6.86% decline from the previous close. The intraday high touched $100,461, while the lowest point reached $91,995.
This sharp downturn is largely attributed to escalating global trade tensions following U.S. President Donald Trump’s announcement of 25% tariffs on imports from Mexico and Canada and 10% tariffs on goods from China, effective February 4.
In response, affected countries have vowed to retaliate, heightening investor anxiety and prompting a shift away from riskier assets, including cryptocurrencies. The market response indicates that investors are prioritizing stability amid growing economic uncertainty.
Technical analysis suggests that Bitcoin's price may be forming a double top pattern, a classic chart formation that often signals a potential downside reversal. Key support levels to monitor include $92,000, $87,000, and $74,000, while $106,000 remains a crucial resistance point for any potential recovery.
The current market decline comes despite Bitcoin’s strong rally since November 2024, where it surged over 35% following expectations of a crypto-friendly regulatory environment under the current U.S. administration. However, the introduction of new tariffs has shifted investor sentiment, leading to increased volatility.
Despite this setback, long-term market observers remain optimistic about Bitcoin’s future, citing increased institutional adoption, the upcoming Bitcoin halving event, and growing mainstream acceptance of digital assets.
The next few days will be crucial for Bitcoin's short-term trajectory, with investors closely watching for any stabilization or further declines triggered by macroeconomic uncertainties.
Ethereum (ETH) is currently trading at $2,472.16, reflecting a 20.26% decrease from the previous close. The day's trading range has seen a high of $3,131.63 and a low of $2,331.05. This decline comes amid a broader market correction, with investors closely monitoring Ethereum's performance, especially considering its pivotal role in decentralized finance (DeFi) and smart contract platforms.
Solana (SOL) is priced at $191.37, marking an 8.64% drop from its prior close. Throughout the day, SOL reached a peak of $215.27 and dipped to a low of $181.14. Despite recent downturns, Solana has demonstrated resilience, with reports indicating a 7% surge in value within hours earlier this week, showcasing its potential for rapid recovery.
XRP is currently valued at $2.17, experiencing a 23.86% decrease from the previous close. The intraday high was $2.92, with a low of $1.98. Recent analyses suggest that XRP is at a pivotal point, with potential movements in either direction. Indicators like the Relative Strength Index (RSI) are in neutral territory, suggesting that while a brief correction may be imminent if selling pressure increases, an uptick in demand could see XRP resuming its upward trajectory.
Cardano (ADA) is trading at $0.642332, down 26.86% from its prior close. The day's high reached $0.895031, with a low of $0.56424. ADA has faced significant downward pressure, with a 6% drop earlier this week bringing its price below the $1 mark. Despite holding the critical support at $0.90, ADA's momentum remains bearish, and the approach of a bearish Moving Average Convergence Divergence (MACD) cross suggests a longer-term correction may be on the horizon.
The cryptocurrency market remains highly volatile, with significant price movements among various tokens. Fartcoin (FARTCOIN) has emerged as the biggest gainer, currently trading at $0.6904, reflecting a 7.20% increase in the past 24 hours.
This surge highlights growing investor interest in meme and novelty tokens, which continue to capture attention despite broader market corrections. While smaller in market capitalization compared to mainstream cryptocurrencies, Fartcoin’s steady upward momentum suggests increasing speculative trading activity.
On the other hand, several major cryptocurrencies have faced significant declines. Filecoin (FIL) leads the list of biggest losers, plunging 31.97% to $2.90. This sharp drop indicates profit-taking and possible shifts in investor sentiment. Floki Inu (FLOKI) follows closely, falling 31.56% to $0.00008077, signaling potential selling pressure in the meme coin sector.
SPX6900 (SPX) is another major loser, witnessing a 30.73% drop to $0.7092, while Gala (GALA) saw a 30.02% decline, bringing its price down to $0.01935. Artificial Superintelligence Alliance (FET) also suffered a major correction, dropping 29.87% to $0.6446, as investors re-evaluate AI-related crypto projects.
Meme coin dogwifhat (WIF) saw a 29.20% decrease, now trading at $0.7125, further reinforcing the trend of increased volatility in speculative assets. Celestia (TIA) also faced a significant drop of 28.92%, currently priced at $2.74. Other notable losers include Arbitrum (ARB) (-28.54%) at $0.4037, Cosmos (ATOM) (-28.30%) at $4.06, and Optimism (OP) (-28.28%) at $0.9332.
Today's market reflects high volatility and investor caution, with Bitcoin, Ethereum, Solana, and XRP experiencing sharp declines. However, some meme coins and speculative tokens like Fartcoin have managed to see gains.
The next few days will be critical in determining whether Bitcoin can hold above key support levels or if further downside is ahead. Long-term investors may see this dip as a buying opportunity, while short-term traders should remain cautious amid uncertain market conditions.
