Kategorie: Crypto Analysis

• Cryptos fell further early Tuesday after China announced retaliatory tariffs on select US imports.
• Meanwhile, US Bitcoin spot ETFs recorded $234.40Mn outflows yesterday.

Cryptocurrency prices have taken another hit as retaliatory tariffs, announced by China, further dampen sentiments.

Bitcoin’s price, which showed some resilience in Monday’s trading session, opened the week at $98,465 at the CME and fell to a daily low of $91,455 during the Asian trading session.

Liquidations worth roughly $2.2 billion rocked the market as major alts logged double-digit losses.

Bitcoin’s price began to recover over the London and NY sessions, breaking above $100,000 to a daily high of $102,880. Major alts like Ethereum also parred losses as it rose to $2,910 from a daily low of $2,262.

However, during the early hours of Tuesday, Beijing announced a 15% tariff on coal and other energy imports from the US and a 10% tariff on oil and agricultural equipment, further dousing sentiments.

Bitcoin is down 3.65% at $99,125 while Ethereum is 5.86% lower at $2,730 as of publishing.

The post Cryptos Dip Further on China’s Retaliatory Tariffs appeared first on CoinJournal.

Crypto majors crumbled in early Monday session as financial markets reacted to President Trump’s decision to impose hefty tariffs on its key trade partners. While the risk-off mood pushed the digital assets to multi-month lows, savvy investors saw an opportunity to ‘buy the dip’. Subsequently, the likes of Ripple and Bitcoin have recorded impressive rebounds with the latter getting back above the psychologically crucial zone of $100,000.

Meanwhile, crypto projects in innovative subsectors are reaping big from the positive market sentiment and appetite for revolutionary projects. Dogizen, a new kid on the block in GameFi is set for explosive success asit leverages on Telegram’s wide reach and the expected pro-crypto environment. 

With less than a week left before it hits the open market, DOGIZ tokens are on high demand. Crypto enthusiasts acknowledge that its current price may be the lowest the project ever reaches on its path to explosive growth.   

Ripple price impressive rebound as investors buy the dip

Earlier on Monday, Ripple price extended its losses from the previous session; plunging below the ascending trendline connecting several of its lows since mid November 2024. It has dropped to a two-month low at $1.7610 before reversing some of those losses to trade at $2.6902 as at the time of writing.

Similar to most other cryptocurrencies, ripple price was reacting to President Trump’s decision to impose 25% tarriffs on imports from its key trading partners; Canada and Mexico. He has also signed an order imposing a 10% duty on goods from China as from 4th February.   

Following the rebound, the altcoin has gone back to trading above the medium-term 50-day EMA even as it remains below the short-term 20-day EMA. At its current level, it will likely find support along the 50-day EMA at $2.6255 as the bulls gather enough momentum to break the resistance along the 20-day EMA at $2.9000. Notably, this thesis will hold for a long as ripple price remains above the crucial zone of $2.5000. 

Dogizen enters the home stretch as a broad playing field awaits 

Dogizen is on its home stretch with the presale slated to end on Friday, 7th February. In a span of 4 months, the project has already raised $3.86 million.

With this trend, it will likely surpass its target as more savvy investors rush to amass some Dogiz tokens in time. With its apt timing and immense growth potential, its current price of $0.000085 may be the lowest it will ever get to. 

As a small-cap cryptocurrency, it has a wider room for growth and is set to secure its early adopters hefty profits upon hitting the open market. 

Besides, its listing comes at a time when cryptocurrencies are expected to benefit from President Trump’s policies. In fact, less than a week after his inauguration, he ordered for the establishment of a task force mandated to propose regulations on digital assets and consider the creation of the country’s crypto stockpile. 

In addition to the pro-crypto environment, Dogizen is also set to benefit from its positioning in the Telegram gaming sunsector. To start with, Telegram has over 950 million monthly active users. Couple this with the anticipated crypto bull run in 2025 and expected explosion of the GameFi sector and Dogizen is bound to reach new heights. 

What’s more, the project has insured itself against the wave of dumps that has impacted its rivals in the past. Unlike tokens like Catizen and Hamster Kombat, Dogizen embraced a well-organized presale as opposed to airdrops. This strategy has beared the desired fruits with its holders comprising of long-term loyal investors. Learn more abouut how to buy Dogizen here.

Ethereum price nears oversold territory as crypto majors crumble

Earlier on Monday’s session, Ethereum price plunged to a 6-month low as the markets reacted to Trump’s decision on tariffs. It has since rebounded to $2,732.53 as at the time of writing. 

A look at its daily chart shows the altcoin approaching the oversold territory at an RSI of 32. Besides, the indicator is facing downwards, pointing to the continuation of the current selling pressure.

At its current level, it is hovering around the previously steady support zone of $2,750. Further rebounding will have the bulls eyeing the next target at $2,926.18. On the flip side, further elling pressure may have Ethereum price retest the support level at $2,581.58.

 

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• Bitcoin fell 4.72% over the weekend and another 3.50% during Monday’s Asian session as tensions driven by Trump’s tariffs have investors derisking their positions.
• Over the weekend, China responded to Trump’s tariffs by indicating interest in imposing tariffs on US goods, while Canada imposed a 25% tariff on CA$155 billion worth of US goods.

Bitcoin tumbled below $100,000 over the weekend, extending losses into today as threats of a possible trade war rock markets worldwide.

While most of Bitcoin’s price decline came this weekend, weakness began when its price failed to swing higher than the $108,000 level two weeks ago (Jan. 20).

A failure to swing higher can signify insufficient buy pressure to push prices higher. If that is the case, prices will seek the next major liquidity level, which could mean lower prices in the interim, as seen over the last two weeks.

Scaling down to a lower time frame, price continued to break lower below $99,000 before retracing to an internal supply zone between the 50.00% and 61.80% Fibonacci levels (the golden zone for retracements) on Thursday, Jan. 30.

After being rejected by internal supply, the price broke down further on Friday, Jan. 31, and over the weekend to settle at the next major demand level, between $92,000 and $96,000.

Bitcoin’s price has found some support at $92,000 and is currently up 4.92% from Asian lows of $91,176.

Wider trade wars stifle markets

Meanwhile, the wider economic landscape faces uncertainty as a brewing trade war between the US and several of its trade partners, including Canada, Mexico, and China rocks various markets.

The US tariffs on its largest trade partners, which include a 25% tariff on imports from Canada and Mexico, and a 10% tariff on Chinese imports have sparked tensions between nations.

In response, Canada imposed a 25% tariff on CA$155 billion worth of US goods, Mexico has announced tariffs on US goods but has not provided details, while China also announced plans to impose retaliatory tariffs on US goods.

The result is uncertainty around the expansion of global trade and a derisking of portfolios, with cryptos being one of the first on the chopping block.

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