February 1, 2025
Bitcoin, Ethereum, XRP, Dogecoin Climb Ahead Of First FOMC Meeting In 2025
 #CriptoNews

Bitcoin, Ethereum, XRP, Dogecoin Climb Ahead Of First FOMC Meeting In 2025 #CriptoNews

Financial Insights That Matter

Cryptocurrency markets are up amid growing market optimism, with significant inflows into Bitcoin ETFs during President Trump’s first week in office and Metaplanet setting a goal of acquiring 10,000 BTC by the end of 2025.

Cryptocurrency Price Gains +/-
Bitcoin BTC/USD $102,051.29 +1.7%
Ethereum ETH/USD $3,139.35 +1.2%
Solana SOL/USD $231.28 +0.6%
XRP XRP/USD $3.11 +5.9%
Dogecoin DOGE/USD $0.3256 +0.06%
SHIBA inu Shib / USD $0.00001847 -0.5%

Notable Statistics:

  • IntoTheBlock data shows large transaction volume increasing by 65.7% and daily active addresses grew by 22.3%. Transactions greater than $100,000 are up from 8,000 to 12,753 in a single day. Exchanges netflows are up by 33%.
  • Coinglass data reports 91,940 traders were liquidated in the past 24 hours for $224.23 million.

Notable Developments:

Top Losers:

Cryptocurrency Price Gains +/-
Pudgy Penguins Pengu/USD $0.0171 -19.3%
Fartcoin FARTCOIN/USD $0.844 -10.8%
Protocol virtual VIRTUAL/USD $1.95 -8.4%

Trader Notes: As Bitcoin prices rise, crypto trader Jelle observed that key support has been reclaimed.

He points out that “$110,000 remains the level to break. Above that, it’s thin air.”

He also suggests Bitcoin is setting up nicely for another cycle of “Red Monday, green week.”

Crypto trader Kevin pointed out that everything today feels irrelevant ahead of Wednesday’s first FOMC meeting of the year, which will set the tone for monetary policy in 2025 and act as a major market mover.

He is especially watching to see if the Fed significantly slows the pace of its balance sheet reduction—a sign that QT could be ending soon. A dovish Powell, paired with the new administration, might ignite a rally.

Daan Crypto Trades, on the other hand, emphasizes that while people often argue “this time is different” for Bitcoin, he prefers to focus on the chart.

He expects the upward trend to continue as long as the bullish market structure holds.

Daan advises against overcomplicating things and warns that focusing too much on lower timeframes can make it harder to navigate a strong bull trend.

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Image: Shutterstock

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