Yesterday, the crypto world was on a rollercoaster ride—plunging into chaos before clawing its way back up. From Bitcoin’s sudden drop to a major legal verdict and a bold price prediction, here’s a recap of the biggest headlines from February 3, 2025.
Market Meltdown: Tariffs Spark a Sell-Off
The day started off with a bang—and not the good kind. Global markets shuddered as U.S. President Donald Trump announced new tariffs on Canada, Mexico, and China, sending shockwaves through riskier asset classes. Crypto, being the high-volatility playground that it is, took an immediate hit. Bitcoin tumbled 4%, briefly dipping below $90,000 before recovering to around $95,400. Ethereum saw an even steeper decline, shedding 17% and flirting with the $2,500 mark. The entire crypto market collectively lost over $500 billion in value, reinforcing just how sensitive digital assets remain to macroeconomic shifts.
While traditional stocks also took a hit, crypto-heavy firms felt the brunt of the fallout. MicroStrategy, known for its massive Bitcoin holdings, and Coinbase, the largest U.S.-based crypto exchange, both saw their stock prices slide. However, as the day progressed, markets stabilized slightly, buoyed by diplomatic reassurances that the tariff situation might not be as dire as initially feared.
Bitcoin’s Wild Ride: Crash and Recovery
If there’s one thing Bitcoin is known for, it’s its ability to keep traders on the edge of their seats. After tumbling alongside the broader market, Bitcoin made an impressive comeback, bouncing back above $95,000 by the end of the day. Panic selling had initially triggered a wave of liquidations, dragging prices downward, but as seasoned investors swooped in to buy the dip, Bitcoin regained lost ground. Whether this rebound is a sign of resilience or merely the calm before another storm remains to be seen, but it was enough to keep traders hopeful.
Crypto Crackdown: OneCoin Lawyer Loses Appeal
In legal news, the long arm of justice finally caught up with one of crypto’s most infamous fraud cases. Mark Scott, a former partner at Locke Lord LLP, lost his appeal against a conviction for helping launder $400 million in the notorious OneCoin scam. Scott, who was found guilty of conspiracy to commit money laundering and bank fraud, had been fighting his conviction for years. But the courts weren’t having it—his 10-year prison sentence and the forfeiture of nearly $392 million in assets were upheld. The ruling serves as yet another reminder that while crypto remains a frontier for innovation, it’s also a breeding ground for bad actors who eventually face the music.
WazirX Moves Forward: Fund Distribution Begins
On the brighter side, WazirX, one of India’s leading crypto exchanges, announced that it has officially started its long-awaited fund distribution process. The move comes after the platform faced security concerns last year, leading to a restructuring aimed at improving transparency and user trust. WazirX has been proactive in engaging with its community, holding town hall meetings to address concerns and map out the road ahead. For users who’ve been waiting to access their funds, this marks a significant step in the right direction.
A Bold Prediction: $300K Bitcoin by March?
While the market digested the chaos of the day, some analysts remained unfazed—some, in fact, were more bullish than ever. Crypto analyst Gert van Lagen made waves with his latest forecast, claiming that Bitcoin could skyrocket to $300,000 by the end of March 2025. His prediction, based on the Elliott Wave Theory, suggests that Bitcoin is primed for a historic rally. While skeptics argue that such a price surge in such a short time is wishful thinking, it wouldn’t be the first time Bitcoin defied expectations. With the Bitcoin halving approaching and institutional interest growing, the stage is set for another potentially wild ride.
Final Thoughts: A Reminder That Crypto Never Sleeps
February 3, 2025, was a day that showcased both the best and worst of the crypto space. We saw how geopolitical events can shake the market, how Bitcoin remains as volatile as ever, and how the legal system continues to crack down on past bad actors. But we also witnessed resilience—both in price action and in the ongoing efforts of crypto businesses to build trust and stability. If there’s one takeaway from yesterday’s events, it’s that crypto never sleeps, and neither should those keeping an eye on it.
Buckle up, because this ride is far from over.
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