The cryptocurrency market has skilled one other downturn, with prime cryptocurrencies Bitcoin and Ethereum dealing with challenges in sustaining their momentum. Currently, the Bitcoin (BTC) worth is across the important $95k mark whereas Ethereum (ETH) is struggling to surge previous $2,800.
Notably, the current crypto market downturn, with a 1.65% drop in complete market cap to $3.15 trillion, is essentially attributed to main safety breaches just like the Bybit and Infini hacks. However, analysts and fanatics are assured that these cryptocurrencies will bounce again as soon as the hacked funds are recovered.
Bitcoin and Ethereum Prices See Deep Declines Today: What’s Happening?
As of press time, Bitcoin is buying and selling at $95,896, with a every day decline of 0.64% and a 7-day dip of 0.25%. At the identical time, Ethereum worth is at $2,725, marking a lower of three.50% during the last 24 hours regardless of a marginal surge of 1.46% in per week. In the final 30 days, each tokens have suffered important losses, with declines of 8.8% and 17.16%.
Despite the present dip, analysts stay bullish about these tokens’ future performances. For occasion, a technical analyst identified on X as CarefreecryptoG shared a bullish evaluation in a current X post, predicting that this week is fascinating for BTC. Identifying the formation of a symmetrical triangle within the 1 hour-BTC chart, the analyst pinpointed Bitcoin worth’s attainable breakout.
Meanwhile, analyst Crypto Rover offered a bullish chart for ETH, predicting its potential ascendance to a brand new all-time excessive. While Ethereum worth held the legendary help line, the token has the potential to achieve a brand new excessive of $9,000.
Will February be Red or Green for Bitcoin Price?
According to analyst CryptosRus, February is often a bullish month for Bitcoin worth, with historic information displaying important good points in most years, besides 2014 and 2020. However, this February has been a unique story, with BTC worth at the moment posting a 6.41% loss.
❇️ February is often a inexperienced month for Bitcoin – However, to keep away from turning into the third pink February in historical past, $BTC wants to shut the month larger than 🎯$102,500 pic.twitter.com/yv1DjfWUNn
— CryptosRus (@CryptosR_Us) February 23, 2025
Nevertheless, CryptosRus means that February might flip inexperienced if BTC closes the month above $102,500. The publish learn, “To avoid becoming the third red February in history, BTC needs to close the month higher than $102,500.”
Ethereum Price to Go Parabolic in 2025 Q1
Coinvo, a crypto investor and dealer, argued that Ethereum worth is ready for a parabolic journey throughout this quarter. According to previous tendencies, Ethereum tends to experience extraordinary development within the first quarter of each fourth 12 months.
Specifically, in Q1 2017, Ethereum noticed a 58.14% return, adopted by a staggering 160.7% return in Q1 2021. Although Ethereum is at the moment down 17%, Coinvo believes it might probably rebound and yield substantial returns by the top of the quarter. Ethereum is poised to reflect Bitcoin worth’s historic February rally, with a possible bullish resurgence on the horizon.
What’s Behind the Crypto Downturn? Analyzing BTC and ETH’s Bearish Trends
The current Bybit hack, which resulted in a loss of $1.4 billion in ETH, has had a important influence on the crypto market, flattening costs. Though Bybit CEO Ben Zhou introduced the whole restoration of the misplaced funds, the market struggles to rebound.
Significantly, the next Infini hack has additionally contributed to the present downtrend. Following the Bybit hack, the neobank Infini skilled a breach, leading to a theft of $49.5 million in USDC. After the affirmation of the crypto heist, Inifini founder Christian Li assured full compensation.
The crypto market, together with Bitcoin and Ethereum costs, continues to battle, with costs nonetheless within the pink. It stays to be seen when a restoration will take maintain.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of expertise in blockchain, web3, and fintech spheres. She has established herself as a educated and participating voice within the cryptocurrency and blockchain area. Her expertise as an Assistant Professor in English Language and Literature has additional added to her quest for crafting informative, well-researched, and accessible content material.
Disclaimer: The offered content material might embrace the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability on your private monetary loss.
