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Daily Crypto Signals: Bitcoin Struggles Below $100K as Inflation Data Rattles Markets

Arslan Butt•Thursday, February 13, 2025•2 min read
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While institutional adoption continues to generate long-term optimistic forecasts, the bitcoin market suffered headwinds as Bitcoin dropped below $98,000 following higher-than-expected US inflation figures. Record crypto derivatives volumes published by CME Group show increasing general interest in spite of temporary volatility.

Daily Crypto Signals: Bitcoin Struggles Below $100K as Inflation Data Rattles Markets
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After US January inflation statistics came in higher than expected at 3% year-over-year, the market for cryptocurrencies saw volatility and Bitcoin dropped below its current support level. Regarding corporate developments, HashFlare’s co-founders agreed to relinquish frozen assets and help to guarantee zero financial damage to users by confessing to wire fraud charges in the US. Franklin Templeton, meantime, registered a “Franklin Solana Trust” in Delaware, therefore indicating possible access into the Solana ecosystem and joining other big asset managers fighting for spot SOL ETF clearance.

CME’s Q4 Crypto Trading Volume Surges 300% Amid Growing Competition

Reporting record trading volumes in Q4 2024 with about $10 billion in average daily trading volume – a more than 300% increase from the year before – CME Group showed amazing expansion in its bitcoin derivatives business. The rising institutional interest in crypto derivatives products is highlighted by Coinbase’s derivatives platform’s competitiveness and Robinhood’s recent entrance into Bitcoin futures trading, therefore posing increasing challenge to the exchange.

Bitcoin Wavers at $97,800 as ARK’s Wood Projects $1.5M Target by 2030

BTC/USD

 

As investors considered the ramifications of more inflation data, Bitcoin BTC/USD showed erratic price movement ranging around $97,800. With ARK Invest CEO Cathie Wood revising her price prediction to $1.5 million by 2030, noting enhanced institutional adoption, institutional sentiment remains positive despite temporary weakness. Still, worries regarding miner profitability and world economic uncertainty keep running against quick price increase.

XRP Risks 30% Decline Below $2.20 Support Despite Exchange Inflows

XRP/USD

 

Since XRP XRP/USD trades below $2.50 and analysts warn of a possible 30% decline should the crucial $2.20 support level fail, XRP suffers great technical pressure. Technical signs point to a likely negative reversal, so the altcoin has been stabilizing between $2.30 and $2.50. Although spot inflows from big exchanges like Coinbase and Bitstamp keep on, the lack of notable activity from Binance traders since February 7 has helped to cause price stagnation.

Leading Altcoins Show Mixed Signals Amid Market Uncertainty

Several major altcoins are showing noteworthy price action:

  • Ethereum ETH/USD attempts to establish support at $2,500 while facing resistance at $2,850
  • Solana SOL/USD tests critical support at $175 after failing to break above its 20-day EMA
  • BNB BNB/USD shows strength with a recovery above its 20-day EMA, targeting $725
  • Cardano ADA/USD struggles to reclaim the $0.80 level amid bearish pressure
  • Chainlink LINK/USD consolidates below $19.25, with bulls defending against further downside
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ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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