Joe Weisenthal from Bloomberg observes that substantial XRP price spikes often signal local highs for Bitcoin. On January 16, 2025, XRP peaked at 3.40 USD, influencing Bitcoin’s following surge.
After reaching 108,786 USD on January 20, Bitcoin’s price faced a decline to 76,896 USD, illustrating its struggle even amid overall market growth and XRP’s subsequent 47% drop.
CryptoQuant’s CEO suggests Bitcoin is in a bear market, with stagnant market cap despite rising overall values. Financial expert Peter Schiff warns that cryptocurrencies, including Bitcoin, may continue to decline.
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