Bitcoin (BTC) is testing $98,000, remaining sluggish but slowly climbing towards $100,000. The flagship cryptocurrency is up over 1%, trading around $99,100, as buyers look to maintain control. BTC has traded between $97,000 and $98,000 in the past 24 hours, with neither buyers nor sellers able to influence the price decisively.
The crypto market is in the green after a sluggish weekend, with most cryptocurrencies registering notable price increases. Ethereum (ETH) is up over 2%, trading just under $2,700. Ripple (XRP) is up nearly 4%, trading around $2.48, while Solana (SOL) is up 1.25%. Cardano (ADA) is up a staggering 12.50%, and Dogecoin (DOGE) is up over 5%, trading above $0.262. Chainlink (LINK), Tron (TRX), Avalanche (AVAX), Stellar (XLM), Litecoin (LTC), SUI, Hedera (HBAR), and Polkadot (DOT) also registered substantial gains.
OCC And CFPB See Changes In Crypto Approach
The crypto industry cheered as two more agencies could change their approach to crypto under new leadership: The Office of the Comptroller of the Currency (OCC), one of the US’s chief banking regulators, and the Consumer Financial Protection Bureau (CFPB), which is effectively being shuttered. The crypto sector has had a testy relationship with the banking sector. However, it is expected to be mitigated by the arrival of Rodney Hood, the stand-in chief at the OCC. Hood is the crypto-friendly former chairman of the US credit union watchdog. As with other key positions, Donald Trump has nominated someone who fully embraces crypto and blockchain technology. Hood had stated while running the credit union agency,
“Cryptocurrency needs to be a part of the credit union system. If you don’t have it, it’s going to hurt your ability to compete with other financial services providers.”
Meanwhile, the Consumer Financial Protection Bureau, the watchdog established after the global financial meltdown in 2008, could potentially be shut down. Republicans have long had issues with the agency’s fights with major corporations. Trump has installed Russ Vought as the acting head of the CFPB and moved to cut financing and cripple its operations.
The attack on the Consumer Financial Protection Bureau was met with cheers from prominent figures in crypto, including Coinbase CEO Brian Armstrong. Consumers frequently complained about Coinbase on the agency’s database. Armstrong stated,
“100% the right call. The CFPB is unconstitutional on the face of it. And even if it wasn’t it should be deleted as we already have the DOJ to prosecute fraud and (many) other financial services regulators. It’s an activist organization that has done enormous harm to the country.”
The attack on the consumer protection watchdog has drawn intense criticism and resistance from Democratic lawmakers, including Senator Elizabeth Warren, the top Democrat in the Senate Banking Committee, and Representative Maxine Waters. Senator Warren stated,
“Elon Musk and the guy who wrote Project 2025, Russ Vought, are trying to kill the Consumer Financial Protection Bureau. This is the payoff to the rich guys who invested in his campaign and who want to cheat families — and not have anybody around to stop them.”
South Korea Must Approve Crypto ETFs To Compete In Global Finance
According to the Chairman of the Korea Exchange, South Korea must introduce crypto ETFs to remain competitive in global finance. Chairman Jung Eun-bo highlighted that South Korea is the third-largest real cryptocurrency trading country, and delaying crypto ETFs could leave it trailing competitors already moving ahead. He gave the example of the US, where crypto futures and spot Bitcoin ETFs are actively traded, adding that crypto ETFs could bring fresh opportunities to the country’s financial sector.
“Cryptocurrency represents a sector capable of generating new value in the financial industry […] We must not delay the introduction of cryptocurrency ETF trading.”
The comments come at a time when the country’s financial sector is grappling with an array of challenges, including a shrinking investor base and zombie companies, struggling firms that survive on borrowed funds. Jung also spoke about regulations and warned that excessive legislation could hinder innovation in the market. He also spoke in favor of easing restrictions on pension fund investments in equities, arguing that strict limits on high-risk assets could hurt long-term returns.
Grayscale Files For First-Ever Cardano ETF
Grayscale has filed for the first-ever spot Cardano ETF, making it the 60th ETF filing this year and raising expectations for approval by the SEC. The move is part of Grayscale’s attempts to expand institutional access to digital assets beyond Bitcoin and Ethereum. According to Bloomberg ETF analyst Eric Balchunas, asset managers are scrambling to secure approvals in a shifting regulatory era. The 19b-4 filing is a key requirement for listing a new ETF. If approved, a spot ETF will require an S-1 registration before it can begin trading. Following the announcement, ADA has surged over 15%. However, despite the rally, the altcoin remains significantly lower than its all-time high of $3.10.
“NEW: @EricBalchunas and I took a look at the filings for spot crypto ETFs. We’re putting out relatively high odds of approval across the board. Mainly focused on Litecoin, Solana, XRP, and Dogecoin, for now.”
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) is testing the resistance around the 50-day SMA as buyers look to push it towards $100,000. The flagship cryptocurrency is trading at around $98,500, with buyers in control. Despite optimism that bullish momentum may be building, BTC remains confined within a trading range of $90,000 and $108,000. The flagship cryptocurrency must achieve a decisive breakout from this trading range to establish a long-term trend. BTC has shed its recent sluggishness to some extent, recording notable increases over the past two sessions. While buyers are in control, sentiment could change if BTC is rejected from $100,000, and sellers could retake control.
BTC bears are still eying the $90,000 level, and if BTC dips below $95,000, it could experience a deeper correction and a return of bearish sentiment. BTC faced considerable volatility last week, dropping to an intraday low of $91,274 on Monday. However, it recovered from this level to reclaim $100,000 and settle at $101,579, registering an increase of nearly 4%. However, the relief rally could not sustain itself, and BTC was back in the red on Tuesday, dropping 4.54% to slip below $100,000 and the 50-day SMA and settling at $97,979, but not before falling to an intraday low of $96,218. Sellers retained control on Wednesday, and BTC fell 1.34% to $96,668.
Source: TradingView
BTC attempted to move past $100,000 on Thursday as it reached an intraday high of $99,237. However, it lost momentum after reaching this level and dropped to $96,641. The flagship cryptocurrency briefly surpassed $100,000 on Friday, reaching an intraday high of $100,222. Once again, sellers thwarted a move higher, and BTC dropped to settle at $96,634. BTC was muted over the weekend, registering a marginal increase on Saturday and a marginal decline on Sunday to settle at $96,527. The current week began with BTC experiencing volatility as buyers and sellers struggled to take control. Buyers ultimately gained the upper hand, and BTC registered an increase of 0.97% and settled at $97,468. The current session sees BTC up just over 1% as it attempts to move past the 50-day SMA and reclaim $100,000.
If BTC can move past this level, it could retest its all-time high and potentially move to $115,000-$120,000. The RSI is close to the neutral level, indicating that bullish pressure is building. The MACD, currently bearish, could flip to bullish if BTC crosses the moving average.
Ethereum (ETH) Price Analysis
Ethereum (ETH) witnessed a significant event on Monday, with 224,410 ETH pulled from exchanges, the highest single-day net outflow in 23 months. This indicates a shift in investor behavior towards the asset, with investors preferring to hold instead of trade the asset. The move could also suggest bullish sentiment among ETH holders. Moving ETH off exchanges and into cold wallets will also reduce the available supply of the asset and lead to a spike in prices. ETH is looking to reverse its recent downtrend, with the price up over 3% over the past two sessions.
Source: TradingView
ETH dipped to an intraday low of $2,160 on Monday as markets tanked. However, it recovered from this level to register a marginal increase and settle at $2,882. ETH could not sustain its rally on Tuesday and dropped over 5% to $2,732. Buyers returned to the market on Wednesday, and ETH registered an increase of just over 2%, settling at $2,789. Bearish sentiment intensified on Thursday as ETH fell below $2,700 after a drop of nearly 4% and settled at $2,668. ETH attempted a recovery on Friday as it rose to an intraday high of $2,799. However, it lost momentum after reaching this level and dropped 2.42% to $2,623.
Price action was muted over the weekend as ETH registered a marginal increase on Saturday and a marginal decline on Sunday to end the weekend at $2,628. Despite ending the weekend in the red, ETH registered a riseof 1.30% on Monday and settled at $2,663. The current session sees ETH up nearly 2%, having reclaimed $2,700 and trading around $2,713. If buyers can maintain control, ETH could extend its rally, moving towards $2,800 and the 200-day SMA. A break above these levels could see ETH test $3,000. On the other hand, if sellers retake control and drive ETH below $2,700, it could drop to $2,500. A break below this level could lead to a deeper correction, and ETH could fall to $2,000. The RSI is well below the neutral zone but is pointing upwards, indicating that bearish sentiment is building. The MACD could also complete a bullish crossover if buyers retain control.
Solana (SOL) Price Analysis
Solana (SOL) has resumed its upward trajectory after facing a wobble on Monday that led to volatility and a marginal decline. SOL was bearish for most of last week, dropping to an intraday low of $176 on Monday. SOL recovered from this level to reclaim $200 and settle at $216, ultimately registering an increase of over 6%. However, it was back in the red on Tuesday, dropping 4.51% to slip below the 50-day SMA and settle at $206. Sellers retained control on Wednesday as SOL dropped over 5%, falling below $200 and settling at $196. SOL attempted a recovery on Thursday as it rose to an intraday high of $204. However, it fell back in the red after reaching this level, ultimately settling at $189 after dropping over 3%.
Source: TradingView
Sentiment changed on Friday as SOL reached an intraday high of $203 before losing momentum and settling at $192, an increase of 1.34%. Bullish sentiment intensified on Saturday as SOL rose nearly 4% to $199. SOL experienced volatility on Sunday as sellers attempted to prevent a move past $200. As a result, SOL fell to an intraday low of $193 and reached an intraday high of $207 before settling at $200. The current week began with SOL registering a marginal decline as sellers attempted to drive the price below $200. The current session sees SOL up over 2% and trading at $205 as it looks to consolidate above $200 and move past the 50-day SMA.
Ripple (XRP) Price Analysis
Ripple (XRP) has been trading in the green since Friday as it looks to recoup losses and reclaim lost ground. XRP was bearish for most of the previous week after dropping over 10% on Sunday to go below the 50-day SMA and settle at $2.57. The price fell to an intraday low of $1.79 on Monday as markets plummeted thanks to uncertainty about Trump’s tariffs. However, it recovered from this level to register an increase of almost 5% and settled at $2.70, back above the 50-day SMA. Bearish sentiment returned on Tuesday, and XRP fell over 6% to slip below the 50-day SMA and settle at $2.52. XRP continued to drop on Wednesday, falling nearly 6% and settling at $2.38. Buyers attempted a recovery on Thursday as XRP rose to an intraday high of $2.46. However, it lost momentum after reaching this level and dropped 2.34% to $2.32.
Source: TradingView
Bullish sentiment returned on Friday as XRP rose to an intraday high of $2.54 before settling at $2.39. The weekend was mixed as XRP rose 0.89% on Saturday and dropped just over 1% on Sunday to settle at $2.39. However, XRP was back in positive territory on Monday, rising 1.25% to $2.41. The current session sees XRP up 3.39% and trading at $2.50 as buyers look to push it above $2.60 and the 50-day SMA.
Chainlink (LINK) Price Analysis
Like other cryptocurrencies, Chainlink (LINK) suffered a dramatic drop on Monday when it dropped to an intraday low of $15.56. However, it recovered from this level to register an increase of almost 6% and settled at $21.67. LINK was back in the red on Tuesday, dropping nearly 8% and settling at $19.97. Sellers retained control on Wednesday as the price fell almost 4% and settled at $19.18. LINK dipped below $19 on Thursday, falling just over 3% to $18.60. It attempted a recovery on Friday, reaching an intraday high of $19.84 before losing momentum and dropping just over 1% to settle at $18.37.
Source: TradingView
LINK registered a marginal increase on Saturday but fell back in the red on Sunday, falling 0.89% to $18.27. Sentiment changed on Monday as XRP started the week positively, rising nearly 3% and settling at $18.79. The current session sees XRP up over 4% and trading at $19.57 as buyers look to reclaim $20.
Hedera (HBAR) Price Analysis
Hedera (HBAR) has been trading downwards since mid-January but has entered into a sideways trading range since the weekend. HBAR registered a sharp dip on Tuesday after Monday’s strong recovery, dropping over 9% to $0.250. The price continued to drop on Wednesday, falling just over 5% and settling at $0.237. HBAR attempted a recovery on Thursday, rising to an intraday high of $0.249. However, it could not move past this level and dropped nearly 4% to $0.228.
Source: TradingView
Buyers returned to the market on Friday as HBAR registered an increase of just over 2%, moving to an intraday high of $0.248 before settling at $0.233. Buyers retained control on Saturday as HBAR registered a marginal increase and settled at $0.234. HBAR encountered volatility on Sunday as buyers and sellers struggled to establish control. Sellers ultimately gained the upper hand as HBAR dropped just over 2% and settled at $0.229. HBAR rose 1% on Monday and settled at $0.231. The current session sees HBAR up nearly 5% and trading at $0.243 as buyers look to push the price above $0.250.
Uniswap (UNI) Price Analysis
Uniswap (UNI) is looking to reclaim $10 as it attempts to rebound from Monday’s low of $6.96. Despite this unprecedented drop, UNI ended Monday at $9.95, up nearly 9%. However, it was back in the red on Tuesday, falling 8.77% to slip below the 200-day SMA and settle at $9.08. The price recovered on Wednesday, rising nearly 2% and moving to $9.26. However, it was back in the red on Thursday, falling 3%, struggling to move past the 200-day SMA.
Source: TradingView
UNI could register only a marginal increase on Friday despite rising to an intraday high of $9.49. Buyers retained control over the weekend, with UNI increasing 1.58% on Saturday to reclaim $9 and settle at $9.14. After registering a marginal decline on Sunday, UNI rose 3.47% on Monday, starting the current week positively. The current session sees UNI up over 5%, moving past the 200-day SMA and trading at $9.95. If buyers retain control, UNI could move past $10 and push toward the 20-day SMA.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
Source: https://cryptodaily.co.uk/2025/02/crypto-price-analysis-2-11-bitcoin-btc-ethereum-eth-solana-sol-ripple-xrp-chainlink-link-hedera-hbar-uniswap-uni