Cryptocurrency Market Update - February 5, 2025
Bitcoin showcased notable volatility on February 5, 2025, fluctuating between $96,205 and $99,126 before closing at $97,206.64. This 2.6% intraday swing reflects ongoing market sensitivity to macroeconomic signals and regulatory speculation ahead of February 6.
Market Performance Highlights
Bitcoin (BTC)
- Opened at $98,215.35 before trending downward
- 24-hour trading range: $96,205 (15:02 CET) ↔ $99,126 (09:32 CET)
- Current RSI: 48 (neutral territory)
Ethereum (ETH)
- Correlation coefficient with BTC remains at 0.87
- Futures open interest increased 12% across major exchanges
Altcoin Sector
- Top 100 altcoins showed 6-18% gains
- Trading volumes spiked 25% compared to 30-day average
Critical February 6 Predictions
| Asset | Bull Case | Bear Case | Consensus |
|---|---|---|---|
| Bitcoin | $105,000 | $94,000 | $100,981 |
| XRP | $3.28 | $2.90 | $3.14 |
| Altcoins | 100x growth | 20% pullback | 50-70x surge |
Market Drivers
Technical Factors
- Bitcoin faces immediate resistance at $98,400 (50-day EMA)
- Support cluster forms between $95,800-$96,200
Fundamental Catalysts
- Regulatory Developments
- SEC decision on Ripple ETF expected by EOD February 6
- Updated FATF guidance on crypto transfers pending review
- Macroeconomic Pressures
- Ongoing trade war impacts risk asset allocations
- USD index (DXY) testing 104.5 resistance level
- Institutional Activity
- CME Bitcoin futures open interest reaches $4.8B
- BlackRock files updated prospectus for crypto basket ETF
Where to Buy Cryptocurrency
Get started with Cryptocurrency by opening an account on one of these trusted platforms:
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