Here is a quick recap of the crypto landscape for Wednesday (February 5) as of 9:00 am UTC.
Bitcoin and Ethereum price update
Bitcoin started the day trading at US$98,509, reflecting a 0.96 percent decline from its previous close. The day’s trading range saw a high of US$100,797 and a low of US$96,026.
Ether is priced at US$2,803.29, marking a 0.87 percent increase over 24 hours. The cryptocurrency reached an intraday high of US$2,870.86 and a low of US$2,634.37 on Tuesday (February 4).
Altcoin price update
SOL is currently valued at US$206.53, 1.6 percent lower across 24 hours, after hitting a daily high of US$218.29 and a low of US$202.45.
XRP fell to US$2.44 before North American markets opened and rose to its highest value of US$2.70 at 8:00 a.m. UTC. The cryptocurrency is currently valued at US$2.56.
SUI is trading at US$3.63, a 5.2 percent boost, after a daily high of US$3.89 and a low of US$3.44.
Meanwhile, ADA is still up, priced at US$0.7698, reflecting a 2.1 percent increase over 24 hours. Its highest price on Wednesday was US$0.7861 and its lowest was US$0.7242.
Crypto news to know
Trump’s tariff threats over the weekend led to a sharp selloff in the cryptocurrency market, with Bitcoin dropping from around US$105,000 to a low of US$92,000 before rebounding above US$100,000 on Monday.
The announcement of a temporary pause on tariffs against Mexican and Canadian goods helped stabilize market sentiment.
While Bitcoin managed to recover some losses, other cryptocurrencies faced continued pressure. Ethereum, Dogecoin, and several altcoins posted double-digit declines.
Even Trump’ own meme coin saw one of the steepest drops, trading at around US$19 on Monday—down 75 percent from its all-time high set during his second inauguration.
Meanwhile, in Washington, Trump’s administration is assessing the feasibility of establishing a U.S. Bitcoin reserve.
White House crypto czar David Sacks stated that an internal working group is reviewing the concept, though no formal decisions have been made. Sacks emphasized that the administration is in the early stages of developing its digital asset policies.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.