Daily Crypto Signals: Mixed Signals as Bitcoin Consolidates Near $96K, XRP Shows Resilience

Early February 2025 sees mixed signals in the crypto market as institutional interest rises through businesses like Palantir while Bitcoin is consolidating at $96,000.

Institutions Show Interest, Crypto Market Sends Mixed Signals

Early 2025 sees varying signals in the crypto market as institutional interest rises through businesses like Palantir.

Despite recent market volatility, strong buying pressure in some altcoins and notable changes in crypto regulation point to underlying market resilience.

Key Takeaways:

Czech President signs crypto legislation, paving the way for European crypto regulation.

Telegram mandates TON Connect for external crypto wallets, shifting the messaging platform's blockchain approach.

Bitcoin trades around $96,000 with strong support despite recent market decline.

XRP sees strong buying activity around $2, supported by Korean traders.

Solana faces pressure at $205, with technical analysis indicating a pivotal price point.

Institutions Show Interest, Crypto Market Sends Mixed Signals

Early 2025 sees varying signals in the crypto market as institutional interest rises through businesses like Palantir. Despite recent market volatility, strong buying pressure in some altcoins and notable changes in crypto regulation point to underlying market resilience.

Crypto Market Developments

Signing historic cryptocurrency legislation in line with more general EU regulations and the Markets in Crypto-Assets (MiCA) regulation, Czech President Petr Pavel is making a major step for European crypto regulation. The new law provides banking access for licenced cryptocurrency enterprises and streamlines crypto tax laws.

By requiring that all outside crypto wallets only use TON Connect as their wallet connection protocol by February 21, Telegram has created ripples in the crypto world and fundamentally changed the blockchain approach of the messaging platform.

Bitcoin Sees Strong Support at $96,000

Trading around $96,600, Bitcoin (BTC) is proving resiliency even under recent declining pressure. With seasonal statistics pointing possible upward to $120,000 in Q1 2025, market watchers remain hopeful.

However, leverage is still a major danger, since the clear liquidity disparity between $72,000 and $86,000 might cause a drop. The recent decline in open interest from $76 billion to $59 billion points to lower market leverage, thereby possibly influencing short-term price stability.

XRP Enjoys Strong Buying Activity Around $2

XRP (XRP) has stayed over $2.00 after a recent market downturn largely due to heavy purchasing demand from Korean traders.

Although recent data suggests rising whale activity with over 180 million XRP tokens moving to Binance, the digital asset dropped significantly to $1.78 on February 3 but fast recovered.

In the futures market, open interest has dropped 44% to $3.55 billion, indicating a substantial deleveraging event.

Solana Testing Support at $180

Solana (SOL) feels ongoing pressure in early 2025; trading about $205 with a 9% drop during the prior 30 days.

Even leading in DEX volume with over $258 billion in January and keeping 6.3 million daily active users, SOL finds it difficult to keep momentum.

Technical study points to a turning point whereby the price moves between its 50-day and 200-day moving averages. Market watchers estimate possible volatility between $150 and $300, with immediate support around $186.