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Ethereum’s Struggles: Bitcoin Up 160% Since the Merge

Ethereum’s post-Merge performance weakens as supply rises, whales sell, and Solana gains ground.

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Joe G & Money Talks
February 04, 2025 • Estimated Reading Time: 6 minutes

What we will talk about today...

Bitcoin’s Next Move: Bull Trap or $90K Support?

Ethereum’s Struggles: Bitcoin Up 160% Since the Merge

XRP Surges 7% Amid Trump’s Tariff Pause, But Is It a Bull Trap?

Bitcoin’s Next Move: Bull Trap or $90K Support?

Bitcoin faces key support tests after a failed rally, risking a drop to $90K.

  • Main Points:

    • BTC drops after China’s tariffs: Price fell from $100K to $98K as trade war tensions rise.

    • Key support at $97K: Holding this level could prevent deeper losses.

    • $90K “golden zone”: Traders eye this area for a possible rebound.

    • Resistance at $101K: Bulls need to reclaim this level for further upside.

    • New ATH in February? Some analysts remain optimistic if $93K holds.

  • Detailed Insights:

    • Market volatility spikes: Bitcoin reacted sharply to shifting trade policies.

    • Fibonacci levels matter: Traders see $95K as a crucial liquidity zone.

    • Strong bid wall at $97K: Suggests potential short-term support.

    • Liquidity shakeout: A deeper dip to $90K could reset the market.

    • Uncertainty limits upside: Derivatives data hints at hesitation above $100K.

Bitcoin’s next move hinges on its ability to hold key support levels. A break below could mean further downside, while a bounce might set up a new all-time high.

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Ethereum’s Struggles: Bitcoin Up 160% Since the Merge

Ethereum’s post-Merge performance weakens as supply rises, whales sell, and Solana gains ground.

  • Main Points:

    • ETH down 70% vs. BTC: Bitcoin has outperformed Ethereum since its 2022 PoS transition.

    • Supply growth stalls: ETH’s deflationary effect has weakened due to low network activity.

    • Whale exodus: Large ETH holders have been offloading since the Merge.

    • Solana’s rise: SOL now controls nearly half of the DEX market, surpassing Ethereum in volume.

    • Key support at 0.024 BTC: A breakdown could push ETH/BTC even lower.

  • Detailed Insights:

    • ETH’s disinflation slows: Low gas fees reduce token burns, keeping supply growth near 0%.

    • Investor confidence wanes: Exchange addresses and former miners are not accumulating ETH.

    • Solana capitalizes: More DeFi and NFT projects shift from Ethereum to Solana.

    • Potential relief rally? ETH/BTC is oversold but needs to hold key support for a rebound.

    • Bearish trend risk: A close below 0.024 BTC could trigger further declines.

Ethereum needs renewed on-chain activity and adoption to reverse its downward trend, or it risks losing more market share to Bitcoin and Solana.

₿itcoin reached $99,543. +2.15%

♢Ethereum reached $2,827.  +9.00%

XRP Surges 7% Amid Trump’s Tariff Pause, But Is It a Bull Trap?

XRP jumps 7% as Trump pauses tariffs, but technicals hint at a potential reversal.

  • Main Points:

    • XRP rallies to $2.78: Prices surged from a low of $1.79 after Trump’s trade policy shift.

    • Market-wide rebound: Bitcoin briefly reclaimed $100K before retracing.

    • Key resistance at $2.62: Bulls struggle to flip this into support.

    • Bearish signals: RSI declines, and profit-taking intensifies.

    • Potential retrace: XRP could fall to $2.26 or even $2.00 if momentum weakens.

  • Detailed Insights:

    • Tariff pause fuels optimism: Temporary relief in U.S.-Canada-Mexico trade boosted risk assets.

    • XRP profit-taking spikes: $2B in realized profits suggests investors are cashing out.

    • Bearish RSI divergence: Momentum weakens despite price surge.

    • Support at $2.26: A break below this level may trigger deeper losses.

    • Caution ahead: Traders eye whether XRP can reclaim key support or confirm a bull trap.

While XRP’s rally mirrors broader market sentiment, traders remain cautious as technicals indicate possible downside risks.

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results