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Cryptocurrency News Articles
BTC, LTC, and TRUMP Meme Coin See Sharp Price Movements Amid Shifting Market Sentiment, Regulatory Updates, and Political Influences
Feb 01, 2025 at 03:54 am
BTC, LTC, and the TRUMP meme coin have seen sharp price movements amid shifting market sentiment, regulatory updates, and political influences.
Bitcoin (BTC), Litecoin (LTC), and the Trump coin (TRUMP) are among the cryptocurrencies that have seen significant price movements amid shifting market sentiment, regulatory updates, and political influences.
The broader cryptocurrency market reacted to macroeconomic events, including the Federal Reserve’s monetary policy and potential crypto ETF approvals.
BTC Breaks $105K Barrier Despite Fed’s Hawkish Stance
Bitcoin’s price continued its upward trajectory, surging past the $105,000 mark after the Federal Open Market Committee (FOMC) decided to keep interest rates unchanged at 4.25%—4.50%.
The market reacted positively despite the Federal Reserve’s slightly hawkish stance, as policymakers acknowledged persistent inflation risks and an uncertain path for rate cuts.
Crypto analyst Michaël van de Poppe expressed optimism about Bitcoin’s trajectory, stating that a new all-time high could be imminent in the coming weeks. BTC currently trades around $105,137, having erased losses from the DeepSeek dip and reigniting bullish sentiment among traders.
Bitcoin holds above $100K, eyes further breakout. Source: Pentoshi/X
Another crypto analyst, known as Pentoshi, observed that Bitcoin is holding above the middle of its range, suggesting that new highs remain likely.
Glassnode’s latest market report highlighted structural similarities between the current bull cycle and the 2015–2018 cycle. The firm noted that realized cap growth remains subdued at 2.1x compared to previous peaks, indicating a maturing market. The report also dismissed concerns about a supply shock, attributing declining exchange balances to asset migration into ETF custodial wallets.
Litecoin Soars as SEC Acknowledges ETF Filing
Litecoin (LTC) surged by over 15% after the U.S. Securities and Exchange Commission (SEC) acknowledged Canary Capital’s 19b-4 filing for a spot Litecoin ETF.
The development spurred bullish sentiment, pushing LTC’s price to $134 after forming a bullish engulfing candle on the daily chart.
Bloomberg ETF analyst Eric Balchunas highlighted that this was the first altcoin ETF filing acknowledged by the SEC, positioning Litecoin ahead of other contenders like Solana and XRP. The approval process could take up to 240 days, but market participants remain optimistic about its chances, given its similarities to Bitcoin, which already has an approved ETF.
On-chain data also showed growing interest in Litecoin, with daily active users surpassing 374,000—more than Cardano and Avalanche combined. Whale accumulation has further fueled price speculation, with large holders accumulating over 1.83 million LTC since Dec. 2024.
Technically, Litecoin is forming an ascending triangle pattern, with resistance near $145 and an upward trendline supporting the price. A breakout above $145 could push LTC toward the $160–$180 range. The Relative Strength Index (RSI) at 59.58 suggests room for further gains, while the Chaikin Money Flow (CMF) remains positive at 0.04, indicating steady buying pressure.
Litecoin targets $354 after breakout confirmation. Source: X
Analysts such as Javon Marks see a potential rally toward $354 if momentum sustains, while Nebrascangooner expects LTC to hit $160 in the short term.
TRUMP Coin Sees Market Shift After Heavy Decline
The Trump coin (TRUMP) has experienced volatile movements since its launch on Jan. 17, 2025. Initially surging to an all-time high of $73.43, the memecoin fell 68% to a low of $25 before showing signs of a potential reversal.
Market analyst Andrew Kang identified $25 as a potential bottom for TRUMP, citing technical patterns suggesting a bullish rebound.
TRUMP has broken above the upper boundary of the falling wedge pattern. Source: X/CryptoFaibik
Another analyst, Captain Faibik, observed that TRUMP had broken out of a falling wedge pattern, typically signaling a reversal. If the trend holds, TRUMP could see a 105% rally from its recent lows.
Trump (TRUMP) derivatives show rising open interest. Source: Coinglass
Despite the price drop, TRUMP remains a heavily traded asset, with its market cap stabilizing at $5.8 billion. Whales have resumed accumulation, with large transactions flagged in the past 24 hours, including a whale buying $29.6 million worth of TRUMP from Crypto.com. Open interest in TRUMP futures has also surged 15% daily, indicating growing trader interest.
Additionally, TRUMP’s adoption has expanded, with multiple platforms integrating it for payments, including GetTrumpSneakers.com and Travala.com.
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- New FASB Accounting Rule May Have Helped Tesla Book a $600M Bitcoin Profit, but It Could Land MicroStrategy With a Huge Tax Bill
- Feb 01, 2025 at 10:50 am
- Roughly 26% of Tesla's net income for the fourth quarter of 2024 came from its bitcoin holdings. The company was able to book these bitcoin-derived profits due to a change in Financial Accounting Standards Board (FASB) guidelines for crypto assets.
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- Intesa Sanpaolo, Italy’s Biggest Bank, Now Holds Bitcoin
- Feb 01, 2025 at 10:50 am
- With assets of approximately $1 trillion, Intesa Sanpaolo is Italy’s biggest bank. The purchase, made through a proprietary trading desk for digital assets established by the lender in 2023, comes amid a wave of institutional interest in Bitcoin.