Market picture Crypto followed equity indices lower on Wednesday evening.Cautious buying is seen in the market on Thursday.The [crypto market](https://www.fxstreet.com/cryptocurrencies) capitalisation now stands at $1.62 trillion, 1.9% lower than 24 hours ago.Solana remains one of the most volatile of the leading altcoins, down 4.7%.XRP, down 2.6%, continues to slide, losing nearly 20% in 30 days.Bitcoin started the week on Thursday morning, getting support from buyers on the way down towards $42K.
Technically, we saw a worrying pullback below the 50-day MA, suggesting an increased chance of further declines.We see evidence of the same on the weekly timeframe.After seven weeks of tight sideways trading and a spike higher, a move lower has been implied.This did not materialise last week, but the price is now cruising below the centre of gravity of the last consolidation.
News background Bitcoin could reach a new high of $125K by the end of 2025, and its price fluctuations will become “more stable”, according to Marathon Digital CEO Fred Thiel.BTC will reach a new all-time high in late Q3 or early Q4 2024 but will then decline to $40K-$50K.
A gradual rise to a new ATH of $120K will then follow in early 2025.Ethereum developers have successfully implemented the Dencun (Deneb-Cancun) [hard fork](https://www.fxstreet.com/cryptocurrencies/resources/what-are-cryptocurrency-forks) in the ecosystem’s second test network, Sepolia.
On 17 January, the deployment of the upgrade in the Goerli testnet caused the chain to split.The Ethereum team was able to make the necessary changes and complete the hard fork within four hours.The SEC will approve spot Ethereum ETFs on 23 May, by which time the price of the second cryptocurrency will reach $4,000, Standard Chartered predicts.The bank expects the regulator to follow the same strategy for Ethereum as it did for Bitcoin.
According to The Block, the trading volume of [Ethereum](https://www.fxstreet.com/cryptocurrencies/ethereum) options reached a record $20 billion in January.Most of the activity was concentrated on call options with a strike price of $2,500 on 23 February.
In other words, a significant portion of traders expect ETH to break above $2500 by the end of the month.Visa has partnered with Web3 payment infrastructure provider Transak to enable the conversion of cryptocurrencies into fiat money on bank cards.According to Transak, the service is available in more than 145 countries.Trade Responsibly.
CFDs and Spread Betting are complex instruments and come with a high risk of losing money rapidly due to leverage.77.37% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider.The Analysts’ opinions are for informational purposes only and should not be considered as a recommendation or trading advice.[Join Telegram](https://t.me/fxstreetcrypto) Follow us on Telegram Stay updated of all the news Recommended Content Editors’ Picks [Two scenarios for Bitcoin price 88 days away from halving](https://www.fxstreet.com/cryptocurrencies/news/two-scenarios-for-bitcoin-price-88-days-away-from-halving-202402010635) [](https://www.fxstreet.com/cryptocurrencies/news/two-scenarios-for-bitcoin-price-88-days-away-from-halving-202402010635) Bitcoin trades sideways around $42,000 on Thursday, recovering slightly from the $42,276 low seen on Wednesday after US Federal Reserve Chair Jerome Powell said that inflation is “still too high” and a March rate cut is not likely.[More Bitcoin News](https://www.fxstreet.com/cryptocurrencies/news?q=&hPP=15&idx=FxsIndexPro&p=0&dFR%5BTags%5D%5B0%5D=Bitcoin) [Sui Price Prediction: SUI likely to correct 15% as staking narrative fades](https://www.fxstreet.com/cryptocurrencies/news/sui-price-prediction-sui-likely-to-correct-15-as-staking-narrative-fades-202402010200) [](https://www.fxstreet.com/cryptocurrencies/news/sui-price-prediction-sui-likely-to-correct-15-as-staking-narrative-fades-202402010200) Sui price skyrocketed on the back of the recent staking narrative, with the theme headlining alongside the meme coin mania that sent Solana’s Bonk Inu and SILLY on a tear.[More Sui News](https://www.fxstreet.com/cryptocurrencies/news?q=Sui&hPP=15&idx=FxsIndexPro&p=0) [Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC pumps as FOMC meeting keeps rates unchanged](https://www.fxstreet.com/cryptocurrencies/news/top-3-price-prediction-bitcoin-ethereum-ripple-btc-pumps-as-fomc-meeting-keeps-rates-unchanged-202401312359) [](https://www.fxstreet.com/cryptocurrencies/news/top-3-price-prediction-bitcoin-ethereum-ripple-btc-pumps-as-fomc-meeting-keeps-rates-unchanged-202401312359) Bitcoin (BTC) price fell after the Federal Open Market Committee (FOMC) meeting, and Ethereum (ETH) and Ripple (XRP) prices failed to inspire confidence as the broader altcoin community bled on Wednesday.
[More Cryptocurrencies News](https://www.fxstreet.com/cryptocurrencies/news) [Ripple wallets are secure, executives say after $112.5 million hack](https://www.fxstreet.com/cryptocurrencies/news/ripple-executives-xrp-accounts-get-compromised-in-1125-million-hack-202401311900) [](https://www.fxstreet.com/cryptocurrencies/news/ripple-executives-xrp-accounts-get-compromised-in-1125-million-hack-202401311900) Ripple exeuctives have assured that the platforms wallet are safe after millions of dollars stolen on Tuesday from a co-founder’s personal wallets.Nevertheless, the news has affected XRP price, which nosedived.
[More Ripple News](https://www.fxstreet.com/cryptocurrencies/news?q=&hPP=15&idx=FxsIndexPro&p=0&dFR%5BTags%5D%5B0%5D=Ripple) [Will BTC correct to $35k or continue bull run without steep corrections?](https://www.fxstreet.com/cryptocurrencies/news/bitcoin-weekly-forecast-will-btc-correct-to-35k-or-continue-bull-run-without-steep-corrections-202401190820) [](https://www.fxstreet.com/cryptocurrencies/news/bitcoin-weekly-forecast-will-btc-correct-to-35k-or-continue-bull-run-without-steep-corrections-202401190820) Bitcoin currently trades around $41,094 after dropping 4.60% on Thursday, putting an end to the $2,000 trading range.This move comes after Adam from GeeksLive noted that the volatility level of BTC dropped to a new low in a month.[Read full analysis](https://www.fxstreet.com/cryptocurrencies/news/bitcoin-weekly-forecast-will-btc-correct-to-35k-or-continue-bull-run-without-steep-corrections-202401190820).
