The post BTC Struggles Below $100K, US Inflation Higher Than Expected, ETF Filings Pile Up: Your Weekly Crypto Recap appeared on BitcoinEthereumNews.com.

The last several days have been quite interesting for the cryptocurrency industry, with numerous events impacting the price of Bitcoin (BTC) and the altcoins. At the beginning of the business week, American President Donald Trump continued his trade war, announcing an upcoming 25% import tax on all steel and aluminum entering the US.  His announcement triggered another round of uncertainty across the financial markets. However, the impact on the crypto sector was not as intense as the one observed at the start of the month.  This time, BTC slipped from around $98,000 at the time of the disclosure to roughly $97,000 hours later. On February 11, the bears retook control, suppressing the price to $95K before another resurgence of over $96,000.  The release of the US CPI data on February 12, though, brought more pain for the bulls. The latest figures showed that inflation in the world’s largest economy was higher than the previous expectations. This caused a sudden drop below $95,000 for BTC and substantial declines for most altcoins.  The crypto market has been in a recovery mode in the past two days, with the leading digital asset rising to its current $97,000, while many alternative coins charted significant gains. Ripple’s XRP stands as the top performer, witnessing a daily increase of over 12% and surpassing $2.75. Its revival happened shortly after the US SEC acknowledged Graysclale’s application to convert its XRP Trust into an exchange-traded fund (ETF). While the weekly charts of the biggest cryptocurrencies – BTC and ETH – are in the red, this is not the case for many of the lower-ranked assets. XRP has soared by 11% in the past seven days, BNB is up 13% for the period, while ADA has jumped by 9%.  Market Data Crypto Weekly. Source: QuantifyCrypto Market Cap: $3.34T |…

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Filed under: News - @ February 14, 2025 6:21 pm