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Bitcoin Analysts Warn of a $95K ‘Bear Trap’ Ahead Despite $100,000 Monthly Close

Uncertainty has hit the Bitcoin (BTC) market despite closing January above the psychological $100,000 level. However, the leading digital asset has slid below this notable level just a day before the first business day in February. Is Inflation Fears Behind Bitcoin’s Dip? Market observers attribute the dip to inflation worries that have swept the broader market. Most market participants fear that President Donald Trump’s imposition of tariffs on the trio of Mexico, Canada, and China could trigger inflation. Others see the dip as part of a wider market correction, which could plunge BTC to $95,000. Ryan Lee, chief analyst at Bitget Research, however, identifies $95,000 as a crucial support level. Lee stressed the need for investors to monitor the broader financial space as it concerns federal policy expectations. He also expects market sentiments to play a role in determining the next move for Bitcoin. Bear Trap or Market Correction? Interestingly, Lee believes Bitcoin’s price might react to macroeconomic factors. Notably, the U.S. labor report could shape the coin’s price outlook for February. The Bureau of Labor Statistics in the U.S will release its market report by Friday, February 7. The price of Bitcoin could regain higher levels if the market report data paints the picture of a “slow economy.” This might spur investors to consider accumulating Bitcoin as an alternative, and the demand could push the price up. Meanwhile, Sensei, another analyst on X, in a post , described the current Bitcoin dip as a “huge bear trap.” He noted that BTC traders anticipating further decline might get caught unaware of Bitcoin’s rebound. Huge Bear Trap. Be ready. pic.twitter.com/MDkqMrDNsG — Sensei (@SenseiBR_btc) February 2, 2025 Sensei calls on traders to exercise caution, particularly those trading on short positions. If his projections turn out accurate, Bitcoin might record a sharp recovery. Analysts Predict Bitcoin to $180,000 As of this writing, Bitcoin is changing hands at $99,250.69, representing a 2.57% decline in the past 24 hours. The coin hit a low of $98,137.60 in earlier trading but has seen a mild 3.34% uptick to $42.78 billion in trading volume. Analysts have projected that Bitcoin could climb as high as $180,000 in 2025 as they anticipate the coin to have a bullish year. The post Bitcoin Analysts Warn of a $95K ‘Bear Trap’ Ahead Despite $100,000 Monthly Close appeared first on TheCoinrise.com . Bitcoin World

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Switzerland’s Largest Bank Tests Tokenized Gold Product on Ethereum Layer-2 ZKsync

Union Bank of Switzerland (UBS), the largest bank in Switzerland, is testing a tokenized gold product on Ethereum ( ETH ) layer-2 scaling solution ZKsync ( ZK ). In a new thread on the social media platform X, the developers behind ZKsync say that UBS is testing out its tokenized gold investment products on the blockchain as a means of improving functionality for global use. The product – UBS Key4 Gold, which allows users to buy and sell units of gold on-chain – is now being tested on the layer-2 network, according to its developers. “UBS, Switzerland’s largest bank, is modernizing digital gold investments on ZKsync. In a PoC (proof of concept) for UBS Gold, they tested ZKsync Validium. The goal: To address scalability, privacy, and interoperability for global expansion… UBS Key4 Gold allows for fractional gold investments for retail clients and includes real-time pricing, deep liquidity, secure physical storage, and optional delivery. UBS Key4 Gold is built on the UBS Gold Network, a permissioned blockchain connecting vaults, liquidity providers, and distributors.” ZKsync says that UBS deploying smart contracts on its testnet Validium was a success. As stated by ZKsync co-founder Alex Gluchowski, “This PoC reflects UBS’ continued efforts to explore how blockchain can enhance its financial offerings and support its broader digital asset strategy. I firmly believe that the future of finance will take place on-chain and ZK technology will be the catalyst for growth. This PoC is a testament to the fact that ZKsync is the ideal home for tokenized assets, building Web3 without compromise. We’re excited to play an integral role in the continued evolution of the space.” ZK is trading for $0.142 at time of writing, a 6.8% decrease on the day. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Switzerland’s Largest Bank Tests Tokenized Gold Product on Ethereum Layer-2 ZKsync appeared first on The Daily Hodl . Bitcoin World