Kitsune8
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Today, February 1, 2025, the cryptocurrency market experienced a significant drop. The main reason for this was the statement by the Chairman of the US Federal Reserve (FRS) Jerome Powell about the expected increase in inflation and a limited number of interest rate cuts in 2025. This statement caused concern among investors and led to a decrease in the prices of major cryptocurrencies.
As a result of this news, Bitcoin (BTC) has fallen by more than 7% in the last 24 hours, falling below the $96,000 mark. Data from Coinglass shows that liquidations for Bitcoin amounted to more than $45 million, and for Ethereum, almost $30 million. Other leading cryptocurrencies also suffered significant losses, with Dogecoin down 18%, XRP down 11%, and Solana down 11.7%.
Despite the current drop, some analysts believe that this is a temporary pullback, characteristic of the cryptocurrency bull cycle, and expect prices to recover in the future.
It is important to note that the cryptocurrency market is known for its volatility, and investors should closely monitor economic news and regulatory announcements, which can have a significant impact on price dynamics.$XRP
As a result of this news, Bitcoin (BTC) has fallen by more than 7% in the last 24 hours, falling below the $96,000 mark. Data from Coinglass shows that liquidations for Bitcoin amounted to more than $45 million, and for Ethereum, almost $30 million. Other leading cryptocurrencies also suffered significant losses, with Dogecoin down 18%, XRP down 11%, and Solana down 11.7%.
Despite the current drop, some analysts believe that this is a temporary pullback, characteristic of the cryptocurrency bull cycle, and expect prices to recover in the future.
It is important to note that the cryptocurrency market is known for its volatility, and investors should closely monitor economic news and regulatory announcements, which can have a significant impact on price dynamics.$XRP
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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