Synopsis
In the last 24 hours, Bitcoin’s market cap fell to $1.918 trillion, with its dominance now at 61.09%. During the same period, BTC’s trading volume increased by 3.64%, reaching $47.83 billion.
Bitcoin (BTC) and major altcoins traded lower on Friday, February 7, with blue-chip crypto tokens, including Ethereum, XRP, Solana, Sui, and Dogecoin, declining by up to 10%.
The global cryptocurrency market cap also fell by 2.93% to approximately $3.14 trillion in the past 24 hours.
“Bitcoin has been range-bound between $97,000 and $98,000 over the past 24 hours, rebounding from a local low of $96,000 amid escalating U.S.-China trade tensions,” said Alankar Saxena, Cofounder and CTO of Mudrex.
Crypto Tracker
TOP COIN SETSBTC 50 :: ETH 50-8.97% BuyCrypto Blue Chip – 5-9.16% BuyDeFi Tracker-12.97% BuyWeb3 Tracker-16.13% BuyNFT & Metaverse Tracker-21.92% BuyTOP COINS (₹) Tether88 (-0.11%)BuySolana17,299 (-0.78%)BuyBitcoin8,546,573 (-1.04%)BuyXRP210 (-1.07%)BuyEthereum240,703 (-1.65%)Buy”While BTC lacks the strength for a decisive move, technical indicators like the momentum oscillator suggest further upside if buying pressure strengthens. A breakout above the $98,500-$100,000 range could trigger bullish momentum, paving the way for a potential move toward $105,000 in the near term,” Saxena added.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View Details »Vikram Subburaj, CEO of Giottus, said, “Bitcoin is holding above $97,000 after a mild recovery today, though buyer sentiment remains subdued. Technical indicators – RSI and MACD suggest consolidation could persist before Bitcoin attempts a breakout. Traders are eyeing US jobs data release tonight which could provide the catalyst.”
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Other major altcoins, including XRP (-6.8%), Solana (-6.2%), BNB (-1%), Dogecoin (-6.3%), Cardano (-6.9%), Chainlink (-6%), Avalanche (-7.75%), Stellar (-5.8%), Hedera (-6.6%), Sui (-10%), and Shiba Inu (-7.7%) also saw declines.
Also Read: Budget 2025: No relief for crypto investors, new compliance requirement introduced
In the last 24 hours, Bitcoin’s market cap dropped to $1.918 trillion. Bitcoin’s dominance now stands at 61.09%. BTC volume in the same period rose 3.64% to $47.83 billion. Meanwhile, stablecoins accounted for $114.92 billion of this volume, or 92.9%, according to .
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
