Crypto market update: LTC, FTT rise as BTC regains $98K

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Written on Feb 6, 2025

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Bitcoin traded near $99k but continued to struggle below $100K.
Litecoin and FTX Token were among top gainers on the day, up 5% and 8% respectively.
Analysts say BTC dominance indicates alts may continue to struggle.

Cryptocurrencies continue to struggle after sharp declines earlier in the week.

This sees Bitcoin (BTC) hover below $100,000 and most altcoins battling to hold onto recent gains.

However, Litecoin (LTC) and FTX Token (FTT) are among top gainers on February 6, 2025.

Here’s an update for the crypto market today.

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Bitcoin bounces to $98K but are bears done?

Bitcoin continued to show some resilience on Thursday, with price bouncing from lows of $96,174 to trade above $98,700.

However, the gains still see the top digital asset stuck below the psychological $100K level.

This follows bears’ rejection of bulls’ attempts to build momentum following last week’s brutal sell-off for equities and digital assets.

The DeepSeek AI impact and tariffs added to the overall struggles for TradiFi, while a lack of clear catalysts for crypto means BTC remains weak.

According to on-chain and financial metrics platform glassnode, Bitcoin’s realized volatility over a three-month rolling window has dropped to 50%.

In previous bull markets, it has exceeded 80%, suggesting a change in BTC volatility profile.

glassnode

@glassnode

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#BTC‘s Realized Volatility on a 3-month rolling window is typically below 50% this cycle, whereas it regularly exceeded 80% to 100% in the prior two bull runs. These historically low levels for a bull market show #Bitcoin‘s volatility profile is changing: glassno.de/4hLnLqL

12:16 pm · 6 Feb 2025

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Altcoin market update

Despite Bitcoin’s price outlook, crypto analyst Rekt Capital pointed to BTC Dominance as rising 6% since the end of 2024.

Per CoinMarketCap, Bitcoin dominance stood at 60.4% and Ethereum at 10.6% – the ETH price having dipped to lows of $2,100 amid the recent sell-off not helping the top altcoin.

Ethereum was nonetheless up to $2,850 at the time of writing, up 3% in the past 24 hours.

Bitcoin’s The resilience shown by BTC means most altcoins have not picked up upward momentum as expected. Ripple (XRP), Solana (SOL) and BNB (BNB) trade near key support levels.

Avalanche (AVAX) and Cardano (ADA) prices managed 1.6% uptick and -2% respectively early in the day.

This is despise bullish developments related to Swedish digital asset manager Virtune, which announced the launch of AVAX and ADA exchange-traded products (ETPs) on Nasdaq Helsinki.