Crypto Market Recap: Trump’s Crypto Moves Stir ECB Concerns

Bitcoin and Ethereum price update

Bitcoin is trading at US$98,841, recording a 0.18 percent increase from its previous close (February 6). The day’s trading range saw a high of US$98,875 and a low of US$95,761.

Meanwhile, Ether is priced at US$2,779.16, marking a 0.40 percent decline over 24 hours. The cryptocurrency reached an intraday high of US$2,792.84 and a low of US$2,669.54.

Altcoin price update

SOL is currently valued at US$200.93, 0.43 percent higher over 24 hours, after hitting a daily high of US$200.93 and a low of US$188.04.

XRP rose to US$2.47, marking a 2.07 percent increase. The cryptocurrency reached an intraday high of US$2.47 and a low of US$2.29.

SUI is trading at US$3.33, a 2.92 percent decline, after a daily high of US$3.43 and a low of US$3.09.

Meanwhile, ADA is down, priced at US$0.7438, reflecting a 0.59 percent decrease over 24 hours. Its highest price on Friday was US$0.7483 and its lowest was US$0.7011.

ETF inflows and outflows

Grayscale Bitcoin Trust (GBTC) is trading at US$30.25, reflecting a 1.45 percent increase over 24 hours.

iShares Bitcoin Trust (IBIT) is priced at US$25.10, down 0.38 percent from the previous trading session. The ETF is trading at a -2.8 percent discount to NAV and holds US$5.8 billion in AUM.

Fidelity Wise Origin Bitcoin Trust (FBTC) is currently at US$24.75, marking a 0.21 percent decrease over 24 hours.

ARK 21Shares Bitcoin ETF (ARKB) is trading at US$28.40, reflecting a 0.62 percent increase from its last close.

Bitwise Bitcoin Strategy Optimum Yield ETF (BITB) is valued at US$22.85, recording a 0.79 percent gain over 24 hours.

Crypto news to know

The European Central Bank is hoping that US President Donald Trump’s support for dollar-pegged cryptocurrencies will accelerate the legislative process for the digital euro.

ECB board members stated that Trump’s stance on stablecoins adds urgency to the EU’s plans, as American-backed payment tools could further entrench U.S. dominance in global finance.

Furthermore, the European Commission introduced digital euro legislation in June 2023, but progress has been slow due to skepticism from lawmakers and the banking sector.

Meanwhile, Trump Media and Technology Group (TMTG) is expanding into crypto finance, taking steps toward launching a bitcoin ETF. The company has applied for trademarks under the Truth.Fi brand, with filings for products such as the “Truth.Fi Bitcoin Plus ETF.”

If approved, this would position TMTG as a competitor to major asset managers like BlackRock and Fidelity in the growing market for crypto investment products.