DeFi News Daily Official TheBitTimes.com

Late January and early February 2025 have proven turbulent for both the cryptocurrency and the stock market. China’s novel DeepSeek artificial intelligence (AI) model was the first to generate strong headwinds as it marked the entry of a new and powerful competitor to a sector otherwise dominated by American big tech. The other, more recent shock arose ‘on-shore’ as the financial markets reacted swiftly and violently to President Donald Trump’s tariff order that targeted partners and allies with more severe restrictions – 25% on trade with Mexico and Canada – and less severe on countries marked as ‘foreign adversaries – 10% on China. Bitcoin (BTC) experienced one of the strongest reactions as it plunged from highs above $105,000 on January 31 to its press time price of $95,759, though it also saw an even lower low earlier on February 3 when it collapsed below $93,000 before retracing from the support zone as buyers stepped in. ...

Polygon (formerly known as MATIC, now as POL) has had a significant price drop over the last few months. The asset was among the top-ranked crypto projects by market cap but has since fallen to the 40th rank. POL (formerly MATIC) is down by 2.9% in the daily charts, 13.8% in the weekly charts, 28.9% in the 14-day charts, and nearly 8% over the previous month. Also Read: 2 BRICS Countries Advancing Towards Launching New Currency Source: CoinGecko Why Is The Asset Slumping? Source: Business Today While Polygon follows the general market downtrend, other factors have also affected its price. Also Read: What Did Tron’s Justin Sun Say About Shiba Inu’s Burn Mechanism? Polygon’s migration from MATIC to POL has presented significant headwinds. User activity has tanked, and large wallets have begun offloading their holdings. The drop in activity, coupled with the bearish market sentiment, has gravely affected the asset’s worth. Polygon Predicted To Hit $0.94 According to prominent c...

Bitcoin (BTC) investors should anticipate a further drop in the asset based on notable technical indicators exhibited by the cryptocurrency. According to crypto trading expert Alan Santana, in a TradingView post on August 29, investors can identify potential trend reversals in the Bitcoin market by leveraging the exponential moving averages (EMAs) and trading volume. In October 2023, Bitcoin traded sideways, consolidating below several critical EMAs. However, a decisive move above these averages triggered a bullish trend, supported by the highest trading volume seen in many months. This breakout began a sustained upward price movement, confirming the market’s bullish sentiment. Picks for you Elon Musk warns of investment risk in Brazil, USD/BRL chart reacts 1 hour ago ...