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XRP whales dump 70 million tokens👀. Trade now👇

1st February 2025 – (New York) Reports indicate that Ripple whales have sold an astonishing 70 million tokens recently, leading to a decline in the asset’s price. This comes amid warnings from pro-XRP lawyer John Deaton, who suggested a possible crash could be on the horizon.

The recent actions of $XRP
{spot}(XRPUSDT)
whales have captured the market’s focus,large investors have executed a substantial dumping strategy. Over the past few days, the offloading of more than 70 million XRP tokens has dampened investor sentiment and coincided with a decline in XRP’s price, reflecting a cautious mood among traders.

Currently, XRP’s price has dipped over 3%, trading around 3 dollars, with trading volume down 7% to 4.3 billion dollars. The cryptocurrency has fluctuated between 2.97 dollars and 3.11 dollars in the past 24 hours, reflecting investor caution. Additionally, XRP Futures Open Interest has decreased by 3%, further indicating a bearish sentiment in the market.

اس سائکل کا سب سے بڑا بیئر ٹریپ !!

انہوں نے یہ 2017 ، 2021… اور اب 2025 میں کیا۔

ہر بڑے بیل رن کو بھیجنے سے پہلے حتمی ریچھ کا جال پڑا تھا۔

آپ yet یا تو لرز اٹھے یا ابھی تک سب سے بڑے اقدام کے لئے پوزیشن میں ہیں۔

آپ کی پسند.

The post Why Is Crypto Crashing Today? appeared first on Coinpedia Fintech News

The crypto market is facing a massive sell-off, wiping out over $400 billion in just 24 hours. Major cryptocurrencies like Bitcoin, Ethereum, XRP, and Dogecoin have all taken a hit, with some dropping by nearly 20%. But what’s causing this sudden crash? Let’s dive into the key reasons behind the turmoil.

Trump’s Tariff War Sparks Fear

One of the biggest reasons behind the market drop is the recent trade war sparked by former U.S. President Donald Trump. Declaring a national emergency under the 1977 International Emergency Economic Powers Act (IEEPA), Trump imposed strict tariff rules, 25% on Mexico and Canada and 10% on Chinese imports.

pic.twitter.com/SWZtSm6NMX

— Donald J. Trump (@realDonaldTrump) February 1, 2025

The market reacted instantly, fearing higher prices, rising inflation, and economic instability. As a result, U.S. stock indexes fell sharply, dragging the crypto market down with them. 

Bitcoin Network Activity Slows Down

Aside from external economic factors, Bitcoin’s network activity has declined significantly. Data from CryptoQuant shows that the mempool is nearly empty. This means fewer transactions are taking place, which is unusual for Bitcoin.

Additionally, Bitcoin transaction fees have fallen to just 1 sat/vB, signaling low demand for block space. This is the lowest level of activity recorded since March 2024.

Crypto Sees $2.18 Billion in Liquidations

The market has also seen a wave of liquidations, with over $2.18 billion worth of crypto positions being wiped out in a day, affecting more than 715,000 traders.

Long traders suffered the most, losing $1.85 billion, while short traders lost around $334 million. The largest single liquidation happened on Binance, where one trader lost $25.64 million in a single trade.

Stronger U.S. Dollar Adds Pressure

Another factor weighing down Bitcoin is the strengthening U.S. dollar. The U.S. Dollar Index (DXY) has surged to 108.50, while the 10-year Treasury yield has risen above 4.54%. 

Historically, Bitcoin moves in the opposite direction of the dollar and Treasury yields, meaning a stronger dollar often leads to lower BTC prices.

Bitcoin’s Critical Support Level

Currently, Bitcoin is struggling to hold above $93,000. If it falls below the psychological support level of $90,000, analysts warn that further declines could be ahead. Meanwhile, the Crypto Fear & Greed Index has fallen to 38, shifting from Neutral to Fear.

However, if BTC manages to recover and break above $95,000, it could regain its bullish momentum.

Bitcoin tanked. It hit $92,681 less than an hour ago before bouncing slightly to $93,831. That’s a 7% drop. Ether wasn’t spared either, crashing 20% to its lowest point since November. The market meltdown began after President Donald Trump threw his trade-war punch Saturday night.

He slapped Canada and Mexico with a 25% tariff and hit China with a 10% duty. The tariffs are set to officially kick in on Tuesday, and the ‘crypto president’ has declared that the tariffs “could get a lot worse” than they are right now.

The CoinDesk 20 index, which tracks the biggest 20 crypto by market value, has tumbled by 19% in the past 8 hours. Stocks didn’t sit this one out either. Dow futures fell 463 points. S&P 500 futures lost 1.6%, while Nasdaq-100 futures dropped 2.1%.

Investors got hit everywhere, and crypto traders are now eyeing key support at $90,000 for Bitcoin, with fears of another pullback to $80,000 if it crashes below that level.

Trump’s tariffs cause fear across markets

Per data from the Bureau of Labor Statistics, the US does $1.6 trillion in annual trade with Canada, Mexico, and China, so these tariffs hit a nerve. Stock traders are sweating. Over 120 major companies in the S&P 500, including Alphabet, Amazon, Walt Disney, and Palantir, are set to report their earnings this week.

Nobody wants disappointing numbers, but the tariffs have raised that risk. AI stocks, already under scrutiny, are taking this the hardest. Nvidia’s NVDA has lost over 7% of its value. 1. Super Micro’s SMCI plunged by 8.8%, AMD tumbled by 5.1%, and Arm’s ARM lost 6.2%.

The Dow, S&P 500, and Nasdaq ended last week in the red. But surprisingly, they still closed January with gains—2.7% for the S&P 500 and 4.7% for the Dow.

Bitcoin is down 16% from its January high of $109,350. That’s a $16,000 haircut in a matter of days. Experienced crypto traders aren’t surprised though. Bitcoin has a history of corrections, often around 30%, even during bull runs.

Arthur Hayes, founder of BitMEX who has been trading Bitcoin since 2011, thinks Bitcoin will benefit in the long term, because a trade war would weaken the US dollar. But the dollar isn’t having a tough time right now though, as it surges by over 1% today, continuing its climb to five-year highs.

Friday’s nonfarm payrolls report will add more drama. Economists expect 175,000 new jobs for January, with unemployment sticking at 4.1%. If the numbers come in worse than expected, it could fuel more uncertainty. And guess what? Uncertainty is poison for Bitcoin right now.

But according to Trump? “Anybody that’s against Tariffs, including the Fake News Wall Street Journal, and Hedge Funds, is only against them because these people or entities are controlled by China, or other foreign or domestic companies. Anybody that loves and believes in the United States of America is in favor of Tariffs. They should have never ended, in favor of the Income Tax System, in 1913. The response to Tariffs has been FANTASTIC!”

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