Cryptocurrency analysts explain the reasons for the growth of major digital assets

Analysts of the digital asset market note that as of January 31, 2025, the leading cryptocurrencies are showing mixed dynamics amid investors' expectations for the publication of key inflation data that is a priority for the US Federal Reserve.

Bitcoin BTC $93,051.58 Bitcoin 8.19% Market capitalization $1.85 trillion VOL. 24 hours $5.44 billion is trading at $ 104.537 at the time of writing, down 0.37% from the previous close. During the day, the price fluctuated between $ 103,907 and $ 106,351.

Ethereum ETH $2,447.57 Bridged Ether (StarkGate) 9.55% Market capitalization $0.22 billion VOL. 24 hours $3.19 billion shows growth, rising by 2.4% to $ 3,261.61. The daily range ranged from $ 3,180.28 to $ 3,281.86.

Dogecoin DOGE $0.03 Department Of Government Efficiency 10.42% Market capitalization $26.7 million VOL. 24 hours $0.64 billion remains relatively stable, with a slight decrease of 0.37%, trading at $ 0.329. During the day, the price ranged between $ 0.3259 and $ 0.3386.

In general, the cryptocurrency market is awaiting the publication of the Personal Consumption Expenditure (PCE) index, which is a key inflation indicator for the US Federal Reserve. This data may affect further monetary policy and, accordingly, the dynamics of the cryptocurrency market.

As a reminder, Deribit analyst Dr. Sean Dawson believes that the probability of bitcoin’s price falling below $ 75,000 by March 2025 has increased to 9.2% compared to 7.2% a day earlier. He explains this by the growing demand for options insuring against a fall and the rise in market volatility.