Follow the hot news in the cryptocurrency community, seize the best trading opportunities. Today is February 1, 2025, Saturday. I am Wang Yi Bo! Good morning cryptocurrency friends ☀ crazy fans mark 👍 like for big success 🍗🍗🌹🌹

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The chaos from the United States early this morning has turned the cryptocurrency market from a moderate increase into a rapid downward trend, also causing the three major US stock indexes to fall on the day, with the Dow dropping over 300 points and closing lower. The reason for the sentiment of the day remains Trump's tariff policy. As the deadline of February 1 approaches, the White House has not yet taken action until the afternoon of January 31, and by noon, some media reported "the implementation of the Canada-Mexico tariffs will be postponed until March 1." Wall Street once believed that tariffs were a means of pressure on Trump's tariff policy. However, the press conference on Friday afternoon made the market realize that "there may indeed be tariffs on February 1." Bitcoin will once again test the 10W support level, Ethereum is still fluctuating around 3300 points, and the rapid downward trend of the cryptocurrency market last night and early this morning once again reflects the strength of the news.
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At the same time, President Trump's cryptocurrency executive order will restructure the market and could be a significant milestone in promoting the adoption of cryptocurrencies. With banks holding cryptocurrency assets, stablecoins integrated into the global payment system, along with the participation, legitimacy, and recognition of the cryptocurrency market, will be significantly enhanced. If the policy is successfully implemented, market adjustments in 2026 may not be as harsh as historical cycles and could pave the way for a longer growth trend, while also looking forward to the start of the cryptocurrency season in February!
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Bitcoin has dropped sharply overnight due to the influence of news, from the high of 106,100 dong in the evening to 101,500 dong and started to recover. Currently, the price is operating at 102,400 dong and in the short term, the market is experiencing a recovery phase after a sharp decline. After the price line went down below the Bollinger Bands indicator line, there are signs of recovery within the outer band, indicating a potential short-term oversold recovery. However, the overall trend is still downward and the market is highly volatile. Monitor the strength and continuity of the recovery. If the price cannot effectively break the resistance level of 106,000 dong, it may continue to decline, suggesting reducing the position or observing when the price recovers near the resistance zone.
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The Ethereum market has also undergone a decline after testing the high level of 3435 points and started to adjust in the evening. The lowest level dropped to 3280 points and started to rise again. Currently, the market is in the process of adjusting in the middle of the range. According to the technical structure, after surpassing the level of 3400 points, the market momentum has decreased slightly and the BOLL index also indicates the market's reduced volatility. Candles fluctuate around the center range and the recovery momentum is not enough. Overall, the market may maintain a short-term oscillating trend.