Bitcoin Slips Below $102K, Solana’s Weekly Troubles Persist (Weekend Watch)
2025-02-01
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Bitcoin had a solid Friday, at least at first, as it pumped above $106,000 before the bears resumed control of the market and pushed it south by over four grand.
Most altcoins are quite sluggish on a daily scale, with SOL, ADA, XRP, and SUI in the red, while PEPE and DOT have charted some gains.BTC to $102K
The largest cryptocurrency started the business weekon the wrong footas the AI mania that started in China called DeepSeek sent the entire market into a severe correction. On Monday morning, the asset fell by over $7,000 and dropped below $98,000 for the first time in almost two weeks.
After an unsuccessful recovery attempt later that day, the bulls finally stepped up on Tuesday and pushed BTC back into six-digit price territory. The markets calmed a bit on Wednesday in anticipation of the first yearly FOMC meeting, but once that concluded that it became known, as expected, that the Fed won’t change the interest rates, BTCstarted to lose value.
Within less than an hour, the asset dropped from $103,000 to $101,500. However, it bounced off and surged to $106,500 on Thursday. It remained on thatsolid groundon Friday morning as well, with a daily peak of $106,000.
Nevertheless, it slumped hard in the evening to $101,300 (on Bitstamp). Although it has recovered some ground since then, it’s still more than 2% down on the day and struggles beneath $102,000.
Its market capitalization has slipped below $2.020 trillion, while its dominance over the alts is at 55.6%.SOL Slips Further
SOL was among the best performers last week due to the TRUMP token mania, but the tides have turned lately. Solana’s coin is down by 8% on a weekly scale, with a price tag of under $230.
On a daily scale, most other larger-cap alts, such as XRP, ADA, BNB, DOGE, TRX, and AVAX, have also posted some declines. ETH, LINK, and TON are with minor gains, while PEPE and DOT have jumped by 3-4%.
The total crypto market cap has seen just over $80 billion gone in a day and is down to $3.630 trillion on CG.