Bitcoin and other top crypto prices were observed to be experiencing uniform movements on Sunday (2/2/2025). The majority of top cryptos were observed to be back in the red zone.
Based on data from Coinmarketcap, the crypto with the largest market capitalization, Bitcoin($BTC ) has weakened again. Bitcoin fell 1.43 percent in 24 hours and 3.92 percent in a week.
Currently, the price of Bitcoin is at USD 100,761 per coin or equivalent to IDR 1.64 billion (assuming an exchange rate of IDR 16,280 per US dollar).
Ethereum (ETH) also weakened. ETH fell 4.84 percent in the past day and 4.77 percent in the week. With that, ETH is currently at the level of Rp 51.1 million per coin.
The next crypto, Binance coin (BNB) is still strengthening. In the last 24 hours BNB fell 3.26 percent and 3.54 percent a week. That makes BNB priced at IDR 10.7 million per coin.
Then Cardano (ADA) is back in the red zone. ADA dropped 4.39 percent in a day and 7.01 percent in a week. That puts ADA at Rp14,732 per coin.
Meanwhile, Solana (SOL) has weakened again. SOL fell 7.15 percent in a day and 15.81 percent in a week. Currently, the price of SOL is at the level of IDR 3.51 million per coin.
XRP is back in the red zone. XRP has weakened 4.63 percent in 24 hours and 6.06 percent in a week. With that, XRP is now priced at IDR 47,359 per coin.
Meme Coin Dogecoin (DOGE) is weakening. In the past day, DOGE has fallen 5.76 percent and 11.77 percent in a week. This makes DOGE traded at the level of Rp 5,060 per token.
Stablecoin Tether (USDT) and USD coin (USDC), both strengthened today, each strengthening by 0.06 and 0.01 percent. This makes the price of both the same, namely USD 0.9999.
As for the overall crypto market capitalization today, it is at the level of USD 3.41 trillion or equivalent to IDR 55,810 trillion, down around 3.00 percent in the last day.
Previously, the crypto market and US stocks weakened after the US Central Bank, The Fed, maintained interest rates in the range of 4.25 percent-4.50 percent this January. Bitcoin fell to USD 101,800 after the announcement before finally recovering after the press conference of The Fed chairman, Jerome Powell, eased market concerns.
The same situation also occurred in the US stock market with US stock indexes such as the S&P 500 and Nasdaq showing recovery after Powell's press conference stating that there were no plans to raise interest rates in the near future.
The Fed's decision is in line with observers' predictions, especially considering the general inflation conditions which have experienced a significant increase based on December's CPI data.
However, the Fed's policy statement at the meeting created turmoil in financial markets, particularly in the crypto market and US stocks.
Reku Analyst, Fahmi Almuttaqin said, this phenomenon highlights the still high sensitivity of the crypto market and the US stock market to US macroeconomic sentiment.
"This indicates high investor concerns about potential future risks that may occur if the Fed starts raising interest rates again to suppress inflation. These risks include the potential for large amounts of investment funds to move back to low-risk instruments such as the dollar and US government bonds from the stock and crypto markets," said Fahmi, Sunday (2/2/2025).
The launch of DeepSeek AI technology has also become a factor that has further increased these concerns because the future challenges that US stocks that have been believed to have high growth potential, such as stocks in the technology sector, may face may increase.
