BCGAME - Free 5BTC Daily Bonus!- Bitcoin fluctuates after FOMC meeting.
- Solana faces ongoing challenges.
- Crypto market value drops significantly.
Saturday, February 1, 2025 – Bitcoin price dropped below the $102K zone today. BTC found support near the key $101.500 zone. It is currently correcting losses and facing resistance near the $102.500 level.
Similarly, most major altcoins are correcting downside. ETH tested the key support at $3.200 and recovered above $3.250. XRP lost its key support below $3,00. Solana is down 4% and is close to $225. ADA is down near the $0,92 support zone. SUI has fallen below the $4,00 support and has lost almost 5%.
In this article, we will discuss:
Why is the price of Bitcoin falling?
The week did not start well for Bitcoin, which saw its value plummet after the launch of the DeepSeek artificial intelligence algorithm in China, resulting in a significant drop below $98.000, the first in almost two weeks. Despite a brief recovery, the cryptocurrency failed to sustain gains, and after the conclusion of the FOMC meeting, where, as expected, interest rates remained unchanged, Bitcoin fell again.
On Thursday, the largest cryptocurrency by market cap showed signs of recovery, climbing as high as $106.500, but that rally was short-lived. By evening, the price had fallen back to around $101.300 on Binance, marking a daily drop of over 3%, and has since struggled to stay above $102.000. Bitcoin’s dominance over altcoins is now at 55,6%, with its market cap falling below $2,020 trillion.
Featured Cryptocurrencies
Meanwhile, the cryptocurrency Solana has faced continued challenges, falling 8% on a weekly scale and trading below $230. Despite being one of the standout performers in the previous week, the coin is now seeing a sharp decline in its value.
Already in the top 200, the cryptocurrency QTUM started a bullish rally above the $3,00 mark. It is now quoted at $4,17, up more than 40% in the last 24 hours.
