Flipster Crypto Weekly (February 7)

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Flipster Crypto Weekly (February 7)

February 7, 2025

BTC faced sharp volatility this week, plunging from over $102,000 to intraday lows below $92,000 on Monday as escalating U.S. trade tensions with Canada, Mexico, and China triggered a broad risk-off move. Nearly $2 billion in liquidations highlighted aggressive de-risking as traders repositioned for uncertainty. BTC briefly reclaimed $100,000 the next day on hopes of trade mediation but quickly sank below $97,000 following retaliatory tariffs.

While the U.S. crypto chief’s policy update and plans to explore a Strategic Bitcoin Reserve (SBR) provided brief optimism, it wasn’t enough to shift market sentiment. Trump’s reference to crypto as the 'future of American hegemony' earlier today also had limited impact. BTC remained range-bound between $96,000 and $99,000 throughout the week. With Trump’s talks with Xi Jinping looming and crypto lacking clear near-term catalysts, continued volatility and potential downside risks from geopolitical shocks are likely.

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Bitcoin (BTC)

Weekly performance: -6.86%

Year-to-date (YTD) performance: +3.54%

BTC Price Movement

Bitcoin (BTC) fell to $91K on Monday amid escalating trade war and tariff tensions before rebounding sharply to close above $100K. However, the positive momentum was short-lived, as prices dipped below the $100K mark again, extending BTC’s multi-month range-bound movement since late November.

Ethereum (ETH)

Weekly performance: -13.71%

Year-to-date (YTD) performance: -19.32%

ETH Price Movement

Ethereum (ETH) experienced one of its most volatile trading sessions in recent years, initially plunging over 25% before rebounding by more than 37% from its intraday lows—all within a single session. The sharp decline on Monday found support at the historically significant $2,120 level, which has previously acted as a strong price floor. The subsequent rally was fueled by news that Eric Trump, son of U.S. President Donald Trump, publicly voiced his support for Ethereum.

Solana (SOL)

Weekly performance: -17.29%

Year-to-date (YTD) performance: -0.32%

SOL Price Movement

After staging an impressive recovery and closing above its 50-day moving average (MA) on Monday, Solana (SOL) posted three consecutive days of losses, signaling a shift in trader sentiment following its strong performance in January. The $182 level remains a key support to watch, as it aligns with the 200-day MA and previous areas of support.

Berachain (BERA)

Berachain (BERA) emerged as one of the top gainers since its TGE airdrop yesterday, with perpetual trading volume over $5 billion in the past 24 hours. The token surged to a peak FDV of over $7 billion before pulling back, stabilizing around the $7 mark—still up over 600% from its initial price.

Lihua (LIHUA)

Lihua (LIHUA), the XRP-based memecoin, has surged over 200% this week, demonstrating resilience amid broader market weakness. The token has formed a double bottom pattern, a bullish technical setup that suggests potential for further gains. If LIHUA can maintain its breakout above the $0.000000602 level, it could signal continued upward momentum in the near term.

Disclaimer: This material is for information purposes only and does not constitute financial advice. Flipster makes no recommendations or guarantees in respect of any digital asset, product, or service. Trading digital assets and digital asset derivatives comes with significant risk of loss due to its high price volatility, and is not suitable for all investors.