Category: Cryptocurrency News

PRESS RELEASE. Jan 6th, 2025 – Zano, the L1 blockchain for confidential assets and private dApps, has partnered with Cake Wallet, one of the biggest non-custodial wallets among privacy enthusiasts, to make privacy features more accessible and user-friendly for the web3 community. Zano was founded by Andrey Sabelnikov, the lead developer behind CryptoNote – a […]

Ethereum core developer Tim Beiko announced today that the Pectra upgrade will move forward with key testnet forks in February and March, setting the stage for the upgrade’s eventual deployment on the Ethereum mainnet. Ether’s Pectra Upgrade Nears According to Beiko’s post on X, the Holesky testnet will fork at slot 3,710,976 on Feb. 24 […]

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Blockchain analytics reveal bitcoin and ethereum reserves on centralized exchanges have plummeted precipitously since late January, with holdings persisting at lows not witnessed in years. Historic Drops in Bitcoin and Ethereum Reserves as Traders Reallocate The opening days of February 2025 have been marked by intense crypto market fluctuations, with Cryptoquant data showing a swift, […]

Congress is advancing crypto regulation, but confusion remains over sovereign wealth funds and Bitcoin reserves.

Bitcoin has been struggling to reclaim the $100K mark, facing intense volatility and selling pressure since the weekend. The market remains uncertain as bulls attempt to defend key support levels while bears push for a deeper correction. Despite this, Bitcoin continues to show resilience, holding above crucial price zones that could determine the next big move. Related Reading: Ethereum Is Testing Key Support on the ETH/BTC Chart – A Parabolic Move Could Be Next Top analyst Axel Adler shared key insights on X, revealing that as of February 6, 2025, the most critical support level for BTC is at $90.6K, based on the Short-Term Holder (STH) Realized Price metric. Additionally, another major support level is found at $97.2K, calculated from the Short-Term Holder one-month to three-month Realized Price. These levels indicate where recent buyers are positioned, making them crucial for Bitcoin’s stability in the current consolidation phase. As the market digests recent volatility, Bitcoin’s ability to hold above these support levels could set the stage for a renewed rally. If BTC remains strong and demand picks up, breaking above $100K could trigger a push toward all-time highs. However, losing these levels could invite further downside pressure. Investors and analysts are watching closely to see if Bitcoin can regain bullish momentum in the coming days. Bitcoin Metrics Highlight Liquidity Levels  Bitcoin has experienced intense volatility since the weekend, with price action swinging between key levels. After a sharp drop to $91K, BTC quickly rebounded above $100K before settling around $98K. Market sentiment remains fragile as trade war fears continue to shape price movements. The uncertainty surrounding global markets and economic policies has led to increased speculation, with investors closely watching Bitcoin’s ability to hold above crucial support zones. Top analyst Axel Adler shared insights on X, highlighting key technical levels that could define Bitcoin’s short-term trend. As of February 6, 2025, the primary support level is at $90.6K, based on the Short-Term Holder Realized Price metric. This level is a critical price point where short-term holders have acquired BTC, making it a strong area of demand. Additionally, another key support zone is at $97.2K, which represents the one-month to three-month Short-Term Holder Realized Price. On the resistance side, Bitcoin faces significant supply pressure at $100.6K, a level where recent buyers have concentrated their entries. This range, identified through the Short-Term Holder one-day to one-week and one-week to one-month Realized Price metrics, acts as a key barrier preventing BTC from breaking higher. If Bitcoin manages to reclaim and hold above this level, the next target would be $105K or higher, opening the door for another attempt at price discovery. Related Reading: Solana Could Target $220 If It Holds Current Levels – Analyst Expects Short-Term Bullish Momentum For now, BTC remains in a consolidation phase, with both bulls and bears fighting for control. If Bitcoin holds above its key support levels, a renewed bullish phase could emerge, pushing the price toward new highs. However, losing these zones could trigger another round of selling pressure, potentially sending BTC into lower demand levels. The next few days will be crucial in determining the market’s direction. Price Consolidates At Demand Levels: Can BTC Hold? Bitcoin is trading at $99,000 after days of choppy price action, struggling to reclaim the $100K mark. The market remains in a consolidation phase, with bulls attempting to regain control while bears push for further downside. Despite strong demand at lower levels, BTC has yet to establish a firm breakout above key resistance zones. The most crucial support level for bulls to hold is $98K. Maintaining this level could set the stage for a rally, as it has proven to be a strong demand zone in recent sessions. A successful defense of $98K would give buyers the confidence needed to push the price above $100K, a psychological and technical level that must be reclaimed to shift momentum in favor of the bulls. Related Reading: ‘Solana Breakdown Fails’ – Holding $205 Is Crucial To Trigger a Push Higher However, failure to hold above $98K would expose BTC to increased selling pressure. If the price loses the $96K mark, a deeper correction into lower demand zones becomes likely, potentially bringing BTC down to the $92K–$94K range. For now, traders are watching these levels closely, as Bitcoin remains at a crucial point in determining whether the next move will be a surge above all-time highs or a continued pullback into lower support zones. Featured image from Dall-E, chart from TradingView

The dominant cryptocurrency weathered weaker than normal trading volume and a downtrend in price over the past 24 hours. Bitcoin Falls Below $98K as Dominance Climbs Bitcoin (BTC) is trading at $97,102 at the time of reporting, after fluctuating between $96,174.83 and $99,168.61 over the past 24 hours, according to data from Coin Market Cap. […]