Daily Crypto Signals: Bitcoin Struggles Below $97K as XRP Surges 8% on 65% ETF Approval Odds
While XRP gains momentum amid increasing hope for ETF certification, the bitcoin market undergoes notable changes as US Bitcoin mining activities deal with Chinese hardware delays. These events coincide with Bitcoin trading close to $96,700 and mixed signals shown by institutional flows.
US-China Trade War Disrupts Crypto Mining Supply Chain, Threatens Mining Profitability
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Following more inspection by US customs and border protection, US bitcoin mining companies are seeing significant delays in getting ASIC gear shipments from Chinese producer Bitmain. Rising trade tensions between the US and China lead to the circumstance that the Biden government recently blacklisted Sophgo, an artificial intelligence startup connected to Bitmain, in January 2025. These delays should affect mining profitability as the difficulty of mining Bitcoin keeps rising.
Bitcoin Price Pressured by PPI Data and $494M ETF Outflows
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With Januaryβs Producer Price Index topping estimates at 0.4% month-on-month and 3.5% year-on-year, fresh US inflation pressures limit the volatility in Bitcoinβs price. BTC/USD receives contradicting market signals; data indicates increasing buyer liquidity at $95,000 while institutional investors are leaving. approximately three straight days, US spot Bitcoin ETFs witnessed cumulative outflows of approximately $494 million, underscoring ongoing selling pressure.
Ethereum Foundation Injects $120M into DeFi as TVL Hits 21.8M ETH
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Though ETH/USD price has dropped 21% since January 31, the Ethereum ecosystem shows indicators of strengthening. By distributing $120 million worth of ETH to many DeFi systems, including Compound, Spark, and Aave, the Ethereum Foundation has taken a big step. Approaching 21.8 million ETH, the total value locked (TVL) of the network has peaked since 2022. Still, network fees have reduced 72% while increasing deposits, implying less general activity.
XRP Eyes $8 Target as ETF Approval Odds Rise to 65%
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With rising hope about possible spot ETF certification in the United States, XRPβs XRP/USD price has showed resiliency, trading 8% above its recent lows of $2.26. Ambitious targets are being projected by market observers; some anticipate a possible increase to $8 depending on Fibonacci extension levels. Bloomberg ETF analysts project XRP ETF approval likelihood at 65% and possible approval times spanning Q2 2025.
Cardano Whales Accumulate 1.41B ADA as Price Jumps 15% Weekly
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Cardano ADA/USD has shown some performance; this week she gained 15% and right now she trades at $0.78. Technical study points to a possible positive scenario driven by a 2020-era fractal pattern that might increase ADAβs price to $3 in 2025. Under this perspective, whale addresses holding over a million ADA tokens have acquired 1.41 billion tokens over the previous 15 months, making 2.35% of the total circulating supply.
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