The CMC altcoin season index indicates that it is still bitcoin’s season at the current reading of 22. However, the trading activity paints a different picture. On the one hand, Bitcoin spot ETFs have recorded a 7-day streak of net outflows as the market sentiment shifts to extreme fear.
As Bitcoin and other crypto majors record persistent selling pressure, savvy investors are increasingly investing in revolutionary meme crypto projects. Bitcoin Pepe, the first meme ICO on Bitcoin network, is one of the entities on meme lovers’ radar. Based on its infrastructure and positioning, it has the potential to dominate in 2025.
Bitcoin price extends losses as ETF outflows soar
Bitcoin price plunged further on Friday, dropping below $80,000 for the first time since mid-November 2024. Tariff jitters have triggered a shift in market sentiment from last week’s neutral of 49 to extreme fear of 16.
With the risk-off mood, Bitcoin’s institutional demand has dropped, yielding BTC spot ETFs’ outflows of $275.83 million on Thursday. According to SoSoValue, BlackRock’s IBIT topped the list with daily net outflows of $189.02 million while WisdomTree’s BTCW recorded outflows of $53.78 million.
On its daily chart, the formation of a bearish death cross pattern points to further losses in the short term. At its current level, the bulls are keen on defending the crucial support zone of $75,550.
Besides, at an RSI of 20, the crypto is deep in the oversold territory. As such, it will likely record a corrective rebound with the bulls’ target being at $81,601.49. Beyond that level, Bitcoin price may experience tough resistance at around $85,000.
Bitcoin Price chart by TradingView
Bitcoin Pepe model to favor early adopters and long-term holders
Bitcoin Pepe is bringing the ultra-popular meme culture to the highly steady and secure Bitcoin network while incorporating the Solana-style transaction speed. It is this trifactor, which is the first of its kind, that has investors rushing to amass BPEP tokens at its currently affordable price of $0.0255. In slightly over two weeks, the presale has already raised over $3.6 million.
Notably, the project’s model is set to benefit early adopters and long-term holders. At the start of its presale on 11th February, BPEP token price was at $0.0210. At stage 5, its early adopters already have their initial investment up by 15.7%.
By the end of the 30 stages, they will have cumulative gains of $311.4%. As such, this is the ideal time to buy and hold some BPEP tokens. Find out how to buy Bitcoin Pepe here.
String of ETF outflows pushes Ethereum price to a 15-month low
ETH price chart by TradingView
Ethereum price has erased the gains recorded in the past two weeks amid a risk-off mood. With extreme fear shaping trading activity in the broader crypto market, institutional demand for majors like Bitcoin and Ethereum has reduced significantly.
As seen on SoSoValue, Ethereum spot ETFs have recorded daily outflows for seven sessions in a row. On Thursday, the daily net outflows totaled $71.08 million. BlackRock’s ETHA, Grayscale’s ETHE, and Fidelity’s FETH topped the list with outflows of $26.06 million, $19.57 million, and $25.45 million respectively.
In the short term, the range between $2,000 and $2,554.95 will be worth watching. A move below the range’s lower limit will have the bears eyeing the lower level of $1,800.
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