The cryptocurrency market is experiencing a decline, with the market capitalization dropping by 1.32% to $3.19 trillion. Despite this decrease, the 24-hour trading volume remains at $61.3 billion, down 2.83%. These negative numbers have led to a decrease in the Fear & Greed Index, which now stands at “38,” indicating “Fear” in the market.
Bitcoin’s price has been trading within a narrow range, experiencing a 1.32% dip since yesterday. Its market cap is currently $1.90 trillion, and trading volumes have seen a significant surge of 17.25%. Although BTC is under pressure on the daily chart, long-term accumulation trends continue due to growing institutional interest. Japanese investment firm Metaplanet has even announced plans to increase its Bitcoin holdings from 1,762 BTC to 10,000 BTC by the end of 2025.
If you’re interested in knowing BTC’s year-end price target, you can read our Bitcoin (BTC) Price Prediction 2025, 2026-2030 for more insights.
Following Bitcoin’s lead, Ethereum has also fallen by 1.40% to $2,660.60, while XRP has experienced a steeper drop of 3.55%. However, Solana has been hit the hardest, with a 6.18% decrease in the last 24 hours. The price of SOL is now approaching a crucial support level at $181, which could determine its next move.
For those looking to buy SOL during this dip, you can check our Solana (SOL) Price Prediction 2025, 2026-2030 for potential targets.
A significant development in the crypto space is the scheduled repayment of FTX claims under $50K. The payments, facilitated by BitGo and Kraken, are set to occur on February 18. This move is expected to restore confidence among creditors and could impact market sentiment in the coming days.
Here are the top gainers and losers in the market:
Top Gainers:
– Sonic: +4.56% | $0.5442
– PancakeSwap: +4.21% | $2.75
– Cardano: +3.48% | $0.8099
Top Losers:
– Jupiter: -11.33% | $0.8368
– VIRTUAL: -8.69% | $1.20
– Litecoin: -7.86% | $125.38
Now, let’s answer some frequently asked questions:
1. Why is Solana dropping?
Solana has faced a sharp decline, nearing its crucial $181 support. Market volatility and sell-offs have contributed to this downturn.
2. What is Metaplanet’s Bitcoin strategy?
Metaplanet has raised $26.1 million and aims to accumulate 10,000 BTC by the end of 2025, reinforcing its long-term bullish outlook on Bitcoin.
3. When will FTX begin creditor repayments?
FTX will start repaying claims under $50k on February 18, 2025, using BitGo and Kraken as facilitators.
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