Bitcoin, XRP, Dogecoin Pull Back On Trump Tariff Announcement, Ethereum Hanging On

Cryptocurrency markets are under pressure on Friday after President Trump's tariff announcement.

Cryptocurrency	Price	Gains +/-
Bitcoin BTC/USD	$101,924.10	-3.6%
Ethereum ETH/USD	$3,310.99	+1.5%
Solana SOL/USD	$228.96	-4.7%
XRP XRP/USD	$3.01	-4.2%
Dogecoin DOGE/USD	$0.3245	-3.1%
Shiba Inu SHIB/USD	$0.0000187	-0.6%

Notable Statistics:

• IntoTheBlock data shows large transaction volume decreasing by 3.6% and daily active addresses growing by 4.3%. Transactions greater than $100,000 are up from 10,871 to 12,089 in a single day. Exchanges netflows are down by 1,118.7%.
• Coinglass data reports 102,855 traders were liquidated in the past 24 hours for $253.97 million.

Notable Developments:

• MicroStrategy Prices Preferred Stock Offering At $80 Per Share, Seeks $563M To Buy Bitcoin
• Grayscale Introduces Dogecoin Trust For Institutional Investors
• Elon Musk’s Father Launches ‘Musk It’ Meme Coin To Fund New Think Tank
• Anthony Pompliano: Countries Secretly Accumulating Bitcoin, 2025 Could Be ‘Fun’

Top Losers:

Cryptocurrency	Price	Gains +/-
Fartcoin FARTCOIN/USD	$0.9181	-23.5%
SPX6900 SPX/USD	$1.21	-8.2%
Onyxoin XCN/USD	$0.03264	-7.8%

Trader Notes: With Bitcoin prices dropping, crypto trader Altcoin Sherpa predicts that one “god candle” is needed for Bitcoin to reverse its decline.

Meanwhile, Ansem cautioned traders after Bitcoin faced rejection from range highs.

1 God Candle is all we need for $BTC pic.twitter.com/XfekNmoCYC

— Altcoin Sherpa (@AltcoinSherpa) January 31, 2025

More Crypto Online explained that Bitcoin remains in a wave 4 support zone, with the $101,729 level acting as a key support—losing this level could signal a deeper pullback.

Glassnode data shows that Bitcoin has formed a strong supply cluster around $98,000 after 45 days of high-volume trading in the $94,000–$101,000 range, reinforcing this zone as a critical support in corrections and resistance in rallies.

Rekt Capital pointed out that Bitcoin might be retesting a post-breakout structure, with a daily close above the diagonal confirming strength, while failure could send prices back to the $101,000 range low.

#BTC

Could Bitcoin be pulling back for a post-breakout retest of the light blue triangular structure?

Needs a Daily Close above the light blue diagonal to confirm a successful retest

A failure would see price drop back into the Range Low of $101k $BTC #Crypto #Bitcoin https://t.co/RlWTEpbQ52 pic.twitter.com/GMHv5QRohY

— Rekt Capital (@rektcapital) January 31, 2025

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