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This Week’s Summary
- The crypto market ends the week at a total market capitalization of $3.15 trillion.
- Bitcoin dropped by 3% to trade at around $96,000.
- Ethereum is down by over 13% to trade at around $2,600.
- XRP is down by 14%, Solana by 5%, and Dogecoin by 15%.
- Almost all altcoins are trading in the red, with very few exceptions.
- The DeFi sector decreased the total value of protocols (TVL) to around $105 billion.
Crypto Trends 03 – 09 Feb 2025: Market Analysis and Performance
The crypto market closes a terrible week, maybe the worst so far in 2025. Most cryptocurrencies have lost precious value points, with some recording double-digit drops. Again, political developments, mainly in the United States, drove FUD throughout the market. While the last 24 hours have brought a much-needed positive turn, the situation remains dire. As a result, the market capitalization dropped by nearly $180 billion, reaching $3.15 trillion.
Bitcoin started trading in the red during the week and continued until it reached $91,000. Fortunately, the liquidations stopped, and a bullish movement helped BTC regain some terrain. In fact, Bitcoin was close to challenging $100K mid-week. However, that hope was soon vanquished as the bears regained the market. Following this back-and-forth, the king of crypto closed the week with a 3% drop, taking its value to around $96,000.
Ethereum lost over 13% of its value, confirming that it is on a severe downward ride. The second crypto in command took blow after blow in recent weeks. Unsurprisingly, this disappointing trajectory brought its value way below $3,000. Instead of attacking the $4K level, ETH must keep it together to remain above $2,000.
Altcoins & DeFi
Most altcoins are trading in the red, with very few exceptions. For example, XRP is down by 14%, taking its value to $2.42. Elsewhere, Solana is down by 5%, BNB by 3%, Cardano by 20%, Avalanche by 18%, Stellar by 15%, and Sui by 16%.
The memecoins are not faring any better, either. For instance, Dogecoin is down by 15%, Shiba Inu by 7%, and Pepecoin by 23%.
The Metaverse sector has also seen notable movements in the past week. For instance, Axie Infinity is down by 12%, Floki by 16%, Render by 15%, and Stacks by 21%. Moreover, Virtuals decreased by 28%, The Sandbox by 17%, Decentraland by 19%, and MultiversX by 15%.
The DeFi sector lost over $9 billion from the total value of locked protocols (TVL), which is now $105.52 billion.
Crypto Market Analysis – What’s in the News?
- MicroStrategy, the most prominent corporate Bitcoin holder, rebranded to Strategy.
- BlackRock aims to launch a BTC-linked exchange-traded product in Europe, which would be a premiere for European crypto enthusiasts.
Next Week’s Crypto Market Forecast
The crypto market has had a disappointing start to February, allowing FUD to rule across the board. The financial crackdown policies on foreign partners imposed by the newly appointed US administration have affected most financial sectors. Nevertheless, things should improve soon, considering that the same US administration has frequently admitted its pro-crypto stance.
The post WMA: Bitcoin Keeps Dropping as the Bears Maintain Market Control appeared first on Crypto Adventure.
