TL;DR

• Bitcoin (BTC) rebounded from its February low of under $92K, with some analysts predicting a potential rise to a fresh peak.

• On the other hand, recent exchange inflows signal increased selling pressure, while rising US inflation may delay Fed rate cuts, potentially weighing on BTC.

BTC Bulls to Retake Control?

The primary cryptocurrency experienced a solid start in 2025, with its price rising to a new all-time high of almost $110,000 on January 20 (hours before Donald Trump’s inauguration). Since then, though, Bitcoin (BTC) has been on a downtrend, briefly tanking below $92,000 during the crypto market crash on February 3 and currently trading at around $96,200 (per CoinGecko’s data).

Several analysts believe it is time for the bulls to step in again and push the valuation to fresh peaks. The X user CRYPTOWZRD claimed that BTC’s daily candle closed “strongly bullish today,” expecting the uptrend to continue.

“I believe the correction is over now, and Bitcoin should be pushing above the $100,000 resistance target. Above the $100,000 resistance target, there will be a psychological value for retail traders, leading them to pour more money into the market,” they suggested. 

The analyst thinks a breakout of the next immediate major resistance target of $108,000 is “very likely,” following which the crypto community might witness a new ATH. 

The Bears Might Stay a Bit More

Contrary to the bullish predictions outlined above, some on-chain factors indicate that BTC could continue to underperform in the short term.

According to CryptoQuant, the asset’s exchange netflow has been predominantly positive in the last week. This suggests a possible shift from self-custody methods to centralized platforms, which in turn increases the immediate selling pressure. 

Meanwhile, the latest US CPI data showed a slight increase in the inflation rate in the world’s largest economy. The Federal Reserve considers this when deciding its next move regarding the adjustment of interest rates. Rising inflation may prompt the Fed to postpone a rate cut, which could be bad news for the cryptocurrency market. 

After all, lowering the benchmark makes money-borrowing easier and might increase the interest in riskier assets such as Bitcoin (BTC). 

Ali Martinez also gave his two cents on the current market landscape. He maintained that BTC’s most important resistance level is $97,530, adding that support below $92,110 is weak. Martinez hinted that falling under that zone may lead to a substantial plunge, as there is a gap between $90,000 and $70,000. 

Bitcoin’s price dipped by a few grand yesterday after the worst-than-expected US CPI data but bounced off and even tapped $98,000 briefly before settling at around $96,000.

BNB, HYPE, and SUI have emerged as the biggest gainers from the larger-cap alts today, while ETH failed at $2,700 following positive news.

BTC Recovers

The primary cryptocurrency went through a full-on rollercoaster at the start of the previous week, with multiple $10,000 moves in both directions. It settled in the following days in a tighter range between $96,000 and $98,000, aside from a brief spike toward $100,000 on Friday.

The subsequent rejection, though, pushed it south to the lower bound of the range, where it spent most of the weekend as well. The business week began with a price pump toward $98,000 but was halted once again.

More volatility was expected yesterday following the release of the US CPI numbers. Once they went live and were higher than the general expectations, BTC slipped by two grand within minutes to $94,000.

However, the asset bounced off immediately and added four grand by the Thursday morning Asian trading session. It was stopped once again there and now sits just inches above $96,000.

Its market capitalization has remained at just over $1.9 trillion, while its dominance over the alts has taken a big hit and is down to 57.6%.

BNB Back Above $700

Ethereum jumped high this morning after CBOE filed for a spot staked ETH ETF on behalf of 21Shares. However, it quickly lost most of the gains and is now below $2,700 once again. XRP, DOGE, ADA, LINK, AVAX, and XLM are also slightly in the green on a daily scale.

BNB has jumped the most, adding 9.5% of value and trading above $700 now. SUI and HYPE followed suit, with 8% gains, which have pushed them to $3.5 and $25, respectively.

Some meme coins have posted impressive increases over the past day as well. Nevertheless, the total crypto market cap has remained still at just over $3.3 trillion on CG.

TL;DR

• Popcat (POPCAT) and Pudgy Penguins (PENGU) soared after Coinbase added support, whereas Official Trump (TRUMP) reacted positively to Upbit’s announcement.
• TRUMP’s rally sparked optimism for another bull run, with analysts predicting a potential short-term surge to the $35-$40 range.

Outperforming the Leaders

The meme coin sector has rebounded in the last 24 hours, with its total market capitalization climbing above $78 billion. The biggest tokens of that type – Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) – have charted some mild gains, while others have stolen the show with much more impressive increases.

Some of the examples include Popcat (POPCAT) and Pudgy Penguins (PENGU). The former’s price has exploded by around 25%, while PENGU is up by approximately 10% for the day.

Perhaps the most likely reason fueling their resurgence is Coinbase’s decision to add support for the assets on the Solana network. The US-based crypto exchange explained that trading “will begin on or after 9 AM PT on 13 February 2025 if liquidity conditions are met.” 

“Once sufficient supply of this asset is established, trading on our POPCAT-USD and PENGU-USD trading pairs will launch in phases,” it added. 

Another meme coin that has witnessed a significant pump in the last 24 hours is Official Trump (TRUMP). Its valuation has soared by over 10% following an announcement by Upbit.

The leading South Korean crypto exchange allowed users to deal with the following trading pairs: TRUMP/KRW, TRUMP/BTC, and TRUMP/USDT. Thus, it became the latest to embrace the meme coin launched by US President Donald Trump. Other behemoths that previously embraced the asset include Binance and Coinbase.

This happened shortly after TRUMP’s launch last month and could be among the main reasons behind its initial bull run. Recall that its price skyrocketed above $70 mere days after launch, while its market cap reached a whopping $14.5 billion. Over the following weeks, TRUMP has experienced a serious downfall, with its capitalization currently standing at less than $3.5 billion. 

Is TRUMP Ready for Another Bull Run?

Numerous industry participants noted the latest revival of the meme coin and, contrary to its downtrend in the past weeks, outlined optimistic predictions.

The X user Crypto Bull claimed that reversal has started, envisioning a pump to the $35-$40 range in the short term. 

AMCrypto also weighed in, assuming that TRUMP has entered its “capitulation phase.” They believe that most people who previously entered the ecosystem currently sit on unrealized losses, and “a lot of panic selling is happening.”

“If I’m confident on 2 memes this cycle, TRUMP is definitely one of them,” the analyst concluded.