Cryptocurrency Swings Sideways After Rebounding in Afternoon

Trump's Tariff war, Fed's Hawkish Message Fears Market
'Dangerous Assets' Cryptocurrencies Remained Flat
BTC, Altcoin Rebound On Low-Buy Buying After Drop
SOL Continues to Plunge about 14% with Bad news

Bitcoin(BTC) and cryptocurrency markets fell on Feb. 19 despite the rebound in the New York Stock Exchange. The cryptocurrency market, which is classified as a 'risk asset', is believed to have been hit the hardest by President Trump's declaration of a tariff war and the hawkish message from the U.S. Federal Reserve.

Bitcoin, which fell about 3% in the early morning of Feb. 19, rebounded due to the influx of low-priced purchases and continued to move sideways at the $95,000 level from the afternoon.

Altcoins continued the same trend as bitcoin. Many major altcoins in the top 20 market capitalization also fluctuated in the afternoon after showing rapid volatility on the morning of Feb. 19.

Solana(SOL), the sixth-largest cryptocurrency market capitalization, fell about 14% on the 19th. This is because a series of bad news related to Solana broke out.

The Solana-based meme coin Libra token(LIBRA) fell about 21% on Feb. 19 amid an incident involving the Argentine president. On top of that, there was news that FTX, which went bankrupt in November 2022, had begun to repay its debt, and rumors that Solana, which was held in large quantities by FTX, had been released to the market in large quantities.

◇Bitcoin = Bitcoin price is $95,776 at 4:30 p.m. on Feb. 19, 2025. The Bitcoin share (dominance) was 61.12%.

The long(up) and short(down) betting ratios in the Bitcoin futures market stood at 68.41% and 31.59%, according to the on-chain analytics platform Sigbtc.

CryptoQuant, an on-chain analysis platform, claimed in a report published on the 18th that Bitcoin could suffer price volatility of up to 16% based on the current Bitcoin (BTC) volatility index.

The Percival, CryptoQuant researcher, pointed to Bitcoin's high volatility index(CHOP - Choppiness Index) on its daily and weekly charts, similar to August 2023, suggesting Bitcoin could face a drastic price change.

In August 2023, Bitcoin, which was at about 39,865 dollars, fell by about 13% in about 10 days to about $35,081 in about 10 days. "In August 2023, Bitcoin shook the market by liquidating boring positions at once due to a rapid trend change," Percival researcher said. "The Bitcoin 'SOPR' indicator is also similar to August 2023, emphasizing the possibility of causing large-scale liquidation or decline in a short period of time."

◇Upward Coin = The cryptocurrency that recorded the largest increase from the previous trading day at 4:30 p.m. on Feb. 19 was Ark(ARK), up about 14%.

Ark is a platform that provides programming to users. It provides users with the ability to easily deploy side chains by customizing them to their business model.

All side chains are connected to the arc mainnet for efficient operation. The payment method used within the arc platform is arc token.

◇Fear Greed Index = The cryptocurrency fear-greed index provided by Alternative has entered the 'Fear' phase with 44 points. The neutral phase is the section where psychological resistance and support of market participants appear. It is an important decision section for future price movements.

The cryptocurrency relative strength index(RSI) provided by Sigbtc was 45.6, which was in a 'neutral' state. RSI sets the relative strength between the upward and downward pressure of a particular asset price and is an indicator of a measure of over-purchasing and over-selling of a particular asset.

권승원 기자 ksw@blockstreet.co.kr