Day: February 11, 2025

BTC, XRP Ready for Breakout as Institutional Interest Increases – Up or Down?

Posted on by Skerdian Meta

Ripple (XRP) and Bitcoin (BTC) have been consolidating for several days after the retreat, but we’re likely to see a breakout soon, with the upside being more favourable.

Price action has muted in XRP and BTC this week

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Mexican Peso Rebounds Against the Dollar After Powell’s Remarks

Posted on by Ignacio Teson

The Mexican peso recovered from a weak start on Tuesday, initially pressured by new U.S. tariffs on aluminum and steel. As markets digested Federal Reserve Chair Jerome Powell’s remarks, the peso strengthened in late trading.

The exchange rate closed at 20.5392 pesos per dollar, improving from 20.5979 pesos the previous day, according to official data from Banco de México (Banxico). This represented a gain of 5.87 centavos (0.29%). The dollar traded within a range of 20.6594 (high) to 20.5026 (low), while the U.S. Dollar Index (DXY), which measures the greenback against six major currencies, fell 0.39% to 107.91.

[[USD/MXN-graph]]

U.S. Tariffs and Interest Rate Expectations

On Monday, former President Donald Trump announced an additional 25% tariff on steel and aluminum imports, including those from Mexico and Canada. Although these tariffs are set to take effect on March 12, they initially fueled market uncertainty.

Later, Powell addressed the Senate Banking Committee, stating that while the U.S. economy remains strong, the Fed is in no rush to cut interest rates—but delaying for too long could also be risky. His mention of potential rate cuts provided some relief to markets ahead of January’s U.S. consumer price index (CPI) report, which could offer further guidance on monetary policy.

Despite trade tensions, the peso traded sideways, with technical support around 20.55 and resistance near 20.68. Meanwhile, Mexico’s industrial activity fell 1.4% in December from the previous month and declined 2.7% year-over-year, according to INEGI data.

Gold Takes a Breather After Hitting a New Record

Posted on by Ignacio Teson

Gold reached its eighth all-time high of 2025, edging closer to the $3,000 milestone as investors grapple with growing uncertainty over the impact of U.S. trade policy.

After breaking a new record, gold retreated alongside the dollar on Tuesday as investors braced for further shifts in U.S. trade policy. Meanwhile, Federal Reserve Chair Jerome Powell reaffirmed that the Fed has no plans to change its 2% inflation target or consider rate hikes at this time.

Gold Price Today

Spot gold slipped 0.2% to $2,927.59 per ounce after hitting an earlier session high of $2,942.70. U.S. gold futures dropped 0.4% to $2,897.92. However, gold remains in a strong uptrend, with futures rising 0.1% to $2,936.10, trading at a premium of around $25 over the spot price. The metal’s rally reflects a combination of central bank purchases to diversify away from the dollar, safe-haven demand, and bullish momentum attracting more buyers.

[[XAU/USD-graph]]

On Monday, former President Trump raised tariffs on steel and aluminum imports to 25%, boosting U.S. steel stocks. He also announced plans for global reciprocal tariffs in the coming days, though he hinted at an exemption for Australia. These measures are set to take effect on March 4.

Market Reactions on Tuesday

In Asia, Chinese markets declined as Beijing’s retaliatory tariffs on U.S. energy and certain products took effect Monday. Hong Kong’s Hang Seng Index (.HSI) fell 1.1% after hitting a four-month high, though it remains up over 12% in the past month, fueled by investor enthusiasm for artificial intelligence and semiconductor stocks.

Cryptocurrencies React Unevenly to Wall Street Declines

Posted on by Ignacio Teson

Cryptocurrencies saw price improvements on Tuesday, February 11, though Bitcoin (BTC) remained stagnant, slipping 1.17% to $96,230 over the past 24 hours, according to Binance.

The biggest gains came from Cardano (ADA), which surged up to 12%, driven by Grayscale’s request to launch the first spot Cardano ETF. Binance Coin (BNB) followed with a 4.5% increase, while SUI rose 4%. Meanwhile, other cryptocurrencies declined, with Toncoin, Bitget Token (-1.4%), and Hedera (-1.08%) leading the losses amid a sharp downturn on Wall Street and a muted market reaction to Jerome Powell’s statements.

[[BTC/USD-graph]]

Rumors of a New ETF

The U.S. Securities and Exchange Commission (SEC) approved spot Bitcoin (BTC) and Ethereum (ETH) ETFs based on the premise that the CME’s futures surveillance system would help prevent price manipulation. Although the CME has yet to list ADA futures, analysts at Bloomberg suggest a Litecoin (LTC) ETF has a 90% chance of approval this year.

Additionally, Ethereum (ETH) exchange-traded products (ETPs) outpaced Bitcoin (BTC) ETPs in fund inflows for the first time last week, driven by Ether’s drop below $2,700 on February 6. However, Bitcoin remains dominant, with nearly $6 billion in inflows in 2025—505% more than Ethereum ETPs.

Powell’s Remarks and Market Reaction

Federal Reserve Chair Jerome Powell addressed the Senate Banking Committee on Tuesday, avoiding any indication of imminent rate cuts. His comments reinforced the Fed’s stance from its January meeting, where it kept interest rates unchanged after three cuts in late 2024.

“Now that our policy stance is significantly less restrictive than before and the economy remains strong, we don’t need to rush to adjust our policy,” Powell stated.

He also cautioned against lowering rates “too quickly,” warning that it could “hinder progress on inflation.”

Markets remain focused on Powell’s congressional testimony, with analysts expecting a cautious approach as his policies will be influenced by the economic measures of President Trump. Powell may also face tough questions from Republican lawmakers.

Nasdaq Closes Lower As Tesla Stock Dives 7%, Meta Stock Resumes Uptrend

Posted on by Skerdian Meta

The Tesla stock closed 7% lower today, dragging the Nasdaq lower, while most stocks such as Meta resumed the uptrend today, closing higher.

The decline in tesla shares picked up pace today
The decline in tesla shares picked up pace today

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Coinbase CEO Says BTC Adoption Could Hit 3B Users by 2030

Posted on by Arslan Butt

Bitcoin is experiencing an unprecedented adoption curve, with numbers suggesting up to 3 billion people could be using it by 2030.

Brian Armstrong, CEO of Coinbase (Nasdaq: COIN), weighed in on this rapid growth, responding to a post comparing Bitcoin’s adoption to the internet and mobile phones.

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XRP vs. SEC: Lawyer Spills Tea on ETF Impact & Future

Posted on by Arslan Butt

The long drawn out legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has left investors wondering about the impact on XRP ETF approval.

But a lawyer has clarified that the lawsuit won’t hinder approval.

Pro-XRP lawyer Jeremy Hogan recently tweeted that while a Ripple settlement may precede XRP ETF approval, the two are not linked. He said ETF approvals take time due to regulatory reviews not legal disputes.

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