In the past 24 hours, Bitcoin (BTC) and major altcoins like Ethereum (ETH) and Ripple (XRP) have seen minimal movement, with BTC trading around $97,500. This period follows a week of fluctuations where BTC’s price swung between $95,000 and $99,000 due to external factors like new tariffs proposed by Donald Trump and recent US economic data. Meanwhile, the meme coin sector has struggled, with a notable drop in the Official Trump token. While some altcoins, such as Litecoin, have posted gains, the overall cryptocurrency Market capitalization has decreased slightly to about $3.23 trillion.
The past day has been fairly calm for Bitcoin (BTC) and several major altcoins. Bitcoin has not experienced much price change, staying close to the level it was at yesterday.
In fact, major cryptocurrencies like Ethereum (ETH), Ripple (XRP), and Solana (SOL) are also maintaining stable prices. However, the meme coin Market has faced significant downturns, with the Official Trump token losing notably.
BTC’s Price Stability
Over the previous week, Bitcoin has seen significant ups and downs, with prices bouncing between just below $95,000 and nearing $99,000. Contributing factors include recent economic policies, such as Donald Trump’s proposed tariffs affecting certain stocks and new CPI data released by the US Bureau of Labor Statistics. Despite the turbulence, Bitcoin found some stability over the weekend, settling around $97,500 on February 15, marking only a 0.5% change over the week.
The overall Market cap remains strong at $1.93 trillion, with Bitcoin maintaining a Market dominance of 59.8% against other cryptocurrencies.
Altcoin Updates
The altcoin Market reflects this overall consolidation trend. Ethereum sits at around $2,700, while Ripple trades near $2.80. Solana remains steady at about $195. Some altcoins, like Litecoin (LTC) and TRON (TRX), have seen slight gains of 4% and 2.5%, respectively. In contrast, others like Cardano (ADA) and Chainlink (LINK) have faced minor losses.
The meme coin sector is struggling, with the Official Trump token plunging by 10% to $18.60. Other meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) are also experiencing declines.
At present, the total cryptocurrency Market cap stands at approximately $3.23 trillion, reflecting a decrease of 0.18% for the day.
Stay informed for further updates on cryptocurrency trends and insights.
What is Bitcoin consolidating at $97K?
Bitcoin is currently stabilizing or “consolidating” around the price of $97,000. This means it is holding steady at this level, without big price swings. Investors and traders are watching closely to see if it will move up or down from here.
Why are official Trump (TRUMP) and other meme coins dropping?
Official Trump (TRUMP) and many meme coins are experiencing significant losses. This drop can happen when investors lose interest or confidence in these coins, or when Bitcoin’s price holds steady, making riskier investments less attractive.
What does it mean when Bitcoin consolidates?
When Bitcoin consolidates, it typically means the Market is taking a break after recent price changes. During this time, traders assess the situation before deciding whether to buy or sell. A consolidation phase can lead to a big price move later.
Should I invest in Bitcoin now?
Whether to invest in Bitcoin now depends on your risk tolerance and investment goals. Bitcoin’s current price is high, which may be appealing to some but risky for others. Always do your own research and consider consulting a financial advisor.
What should I watch for when investing in meme coins?
When investing in meme coins like Trump or others, keep an eye on Market trends. Look for news, social media buzz, and community support. These factors can greatly influence their prices and can help you decide when to buy or sell.
