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Reasons Why Bitcoin, ETH, XRP, DOGE, SHIB Are Falling
The crypto market witnessed a selloff as bullish sentiment regarding Donald Trump’s inauguration faded. The global market cap tumbled over 3% to $3.52 trillion, with trading volume tanking 25% over the last 24 hours. The top crypto Bitcoin fell more than 3% to $102K as trading volume declined three-fold today as compared to Trump’s inauguration on Monday.
Ethereum price also fell 3%, continuing the weak sentiment seen last week. Meanwhile, XRP, Solana and other top altcoins mainly saw a 2-5% drop in the last 24 hours. Meme coin Dogecoin and Shiba Inu tumbled amid selloff by whales.
4 Reasons Why Bitcoin, Ethereum, and Altcoins Tumbled
1. Market Sentiments and Liquidations Triggered Crypto Market Selloff
Coinglass data revealed $250 million in crypto liquidations, with $153 million in liquidations occurring in the last 12 hours. Over 107K traders were liquidated in the past 24 hours, with the largest single liquidation order of BTCUSDT valued at $5.93 million on crypto exchange OKX.
BTC, SOL, ETH, DOGE, TRUMP, and XRP saw massive liquidations, which triggered selloff in the broader crypto market.
The crypto market selloff was triggered as Trump didn’t mention crypto or Bitcoin in his speech, which faded positive sentiment. Also, the industry participants were awaiting an executive order on strategic Bitcoin reserves or crypto policy. However, the US SEC announced the Crypto Task Force led by Commissioner Hester Peirce to develop a clear regulatory framework for crypto assets.
Capital inflows into the cryptocurrency market have declined by 63.3%, dropping from $134.65 billion to $43.37 billion since December 10, 2024. This significant decrease suggests a slowdown in market participation and liquidity. pic.twitter.com/C10IX97BkF
— Ali (@ali_charts) January 23, 2025
Bank of Japan’s Interest Rate Hike Decision
The Bank of Japan expects to raise interest rates this Friday to the highest in 18 years, Bloomberg reported on January 23. A 25 bps rate hike to 0.5% by the BOJ would trigger Yen carry trade unwind, risking global liquidity and risk assets such as BTC.
The crypto market can see further selloff as the BOJ rate hike will wipe out optimism around “Trump trade” and meme coins launched by the Trump family. BTC saw sudden drops during the rate hikes by the BOJ last year.
US Fed Interest Rate Decision
The US Federal Reserve’s monetary policy decision and Jerome Powell’s comments will be the key for markets this year. The recent inflation and strong jobs market data have taken Fed rate cut odds off the table at this FOMC Meeting.
CME FedWatch tool indicates there is a 99.5% probability of the Fed keeping interest rate unchanged at 4.25%-4.50% during the January 29 meeting.
Meanwhile, the US dollar index (DXY) has again started climbing toward 109, with a 0.22% to 108.38 today. Also, the 10-year Treasury yield stays near 4.6% amid volatility due to the Trump tariff and other policy decisions. Typically, Bitcoin price moves in the opposite direction to DXY and Treasury yield.
Crypto Market Selloff: Bitcoin and Ethereum Options Expiry
As per Deribit, 29K BTC options of notional value $3 billion are set to expire, with a put-call ratio of 0.48. The max pain point is $99,000, indicating a high of another dropdown below $100K. Volatile price movements are always expected during options expiry.
BTC price currently trading at $102,467, down 3% from the 24-hour high of $105,557.
Moreover, 169K ETH options of notional value of almost $0.5 billion are set to expire, with a put-call ratio of 0.47. The max pain point is $3,300, which is higher than the current price of $3,220. Traders must keep an eye on drastic changes in trading volumes for further fall in ETH prices.
Varinder Singh
Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space.
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Metaplanet has increased the size of its Bitcoin (BTC) holdings by 330 in a bulk purchase valued at $28.2 million. The latest acquisition brings the Japanese company’s holdings closer to the 5,000 BTC mark amid impressive YTD yields.
Metaplanet Buys 330 BTC For Nearly $30 Million
Tokyo-based Metaplanet has announced the addition of 330 BTC to its growing Bitcoin holdings. According to a post on X by Metaplanet CEO Simon Gerovich, the Japanese-based company splurged $28.2 million on the purchase.
Gerovich’s announcement reveals that Metaplanet spent an average of $85,605 for each BTC in its latest acquisition. At the moment, Metaplanet’s total BTC holding stands at an impressive 4,855 BTC valued at nearly $500 million.
Since the start of the year, Metaplanet says its acquisition spree has seen it rack up a BTC yield of 119.3% YTD.
“Metaplanet has acquired 330 BTC for $28.2 million at $85,605 per bitcoin and has achieved BTC Yield of 119.3% YTD 2025,” said Gerovich.
THIS IS A DEVELOPING STORY….
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Crypto Market Highlights: Another week has ended within the unpredictable world of cryptocurrencies, and investors are left cautious due to turbulent price actions. Bitcoin (BTC) price has traded around the same level in the past 7 days, whereas Ethereum (ETH) managed to lose nearly 1% within the exact duration. Ripple’s XRP price continued its consolidation phase this week, adding to speculations about its future price movements.
Mentioned below are some of the most buzz-worthy cryptocurrency market highlights reported by CoinGape Media over the past week.
Crypto Market Highlights: BTC Updates This Week
BTC price shut the week at around the $85K level, riding a roller coaster in the past seven days. The weekly bottom and peak for the flagship crypto were recorded at $83K and $86K, respectively. This turbulent price action comes despite a stockpile of bullish developments that appear to have considerably impacted investor sentiment this week.
CoinGape reported that Michael Saylor’s MicroStrategy again purchased 3,459 Bitcoin for $285 million and rattled the crypto market. The MSTR stock price also surged subsequently.
Further, Semler Scientific filed to buy $500 million worth of Bitcoin amid its $30 million DoJ settlement this week. With this mover, the firm aimed to boost its Bitcoin reserves despite the broader market uncertainty.
Meanwhile, it’s worth pointing out that U.S. President Donald Trump announced up to 245% tariffs on China this week. On the other hand, China was apparently mulling over the sale of 15K BTC, another intriguing development that captured investors’ attention globally.
Besides, BTC whales were recorded as absorbing 300% of the flagship coin’s new supply, sparking optimistic speculations about long-term price prospects.
Ethereum & XRP Developments
ETH is trading around a $1,600 price level, losing roughly 3% in the last 7 days. Despite this waning action, CoinGape has reported that a rally to $4,800 awaits the second-largest crypto by market cap. This bullish ETH price projection comes as the coin is trading on the north side of a key resistance trend.
However, it’s also worth pointing out that Ethereum faced increased selling pressure due to heightened whale dumps this week. In response to this, market participants are conversely anticipating a potential dip below $1.5 may also be possible.
Besides, Ethereum ETFs recorded $32 million worth of weekly outflows this week, adding further risk to the asset’s price.
In addition, Ethereum fees have also witnessed a severe price decline as user activity decreased amid the recent market turmoil.
XRP price stood at the $2.08 price level after witnessing a highly volatile trading session over the past week. Despite soaring ETF odds, the crypto has yet to see a rising price action. Notably, 9 XRP ETFs have been filed to date, including Bitwise, 21Shares, Grayscale, and Canary Capital.
On the other hand, Ripple whales have also moved hundreds of millions of dollars worth funds this week.
The XRP lawsuit advanced as the U.S Court of Appeals granted Ripple and the SEC’s motion to suspend their appeals while they finalized the settlement. Overall, the abovementioned updates were some of the top crypto market highlights reported by CoinGape Media over the past week.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Uniswap Founder Urges Ethereum To Pursue Layer 2 Scaling To Compete With Solana
As Solana continues its ascent, experts are not writing off Ethereum’s chances to compete favorably in decentralized finance (DeFi). Uniswap founder Hayden Adams wants Ethereum to hone in on Layer 2 scaling to even the odds with Solana.
Uniswap Founder Wants Ethereum To Continue Horizontal Scaling
The calls for Ethereum to focus on Layer 2 scaling are growing louder, with Uniswap founder Hayden Adams joining the train. The Uniswap founder disclosed his stance in an X post, calling for Ethereum to continue its Layer 2 scaling development.
Adams notes that Layer 2 solutions remain Ethereum’s best chance to keep its skin in the DeFi game amid rising competition from Solana. He notes that Solana is better suited to do DeFi on its layer 1, given its roadmap and overall approach compared to Ethereum.
Ethereum, aware of the challenges of its Layer 1, has pivoted to an L2-focused roadmap since 2020. However, a broad ecosystem focus for Layer 2 scaling solutions has left the base layer without major updates for a while, whipping up conversations for a change in approach.
Despite the push for a return to a Layer 1-focused approach, the Uniswap founder wants Ethereum to continue on its existing roadmap. He took swipes at community members pushing for a change in strategy every month, urging them to “pick a lane” and mitigate the attendant risks.
“Ethereum has been working towards an L2-centric/horizontal scaling roadmap for 5+ years,” said Adams. “You want to throw this away at the final stretch because of what reason?”
Ethereum and Solana are going neck and neck with each other with a Coingape analysis weighing whether ETH price will hit $3 before SOL clinches $200.
A Layer 1-centric Approach Is Still Acceptable
The Uniswap founder disclosed in the post that he remains open to the possibility of a pivot to a Layer 1-centric approach. However, the approach has to be explicit and realistic, with Adams recommending key network changes.
“I’m fine with L1-centric scaling approach if it’s explicit and approached realistically,” said the Uniswap founder. “We would have to drop a ton of philosophical stuff like any laptop can run a node.”
He adds that Uniswap’s largest market share comes from Layer 1, making a pivot still a win for his project. However, the approach inflames centralization risks affecting the ability of individuals to run full nodes.
Amid the raging conversations for scaling direction, Ethereum is facing its worst quarterly price performance in nearly a decade. ETH targets a $1600 breakout as prices continue to wallow under $2,000 since slipping below the psychological level.
Tron founder Justin Sun says he is not selling his ETH holdings despite falling prices, pledging to collaborate with Ethereum developers to trigger ecosystem growth.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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