Bitcoin (BTC) has recorded massive volatility over the last several weeks, rising past the $100,000 milestone only to retrace to the $90,000 range. This has sparked debate over whether the crypto market has topped, drawing opinions from various analysts and traders.

Despite market fluctuations, many remain optimistic about the future trajectory of Bitcoin and altcoins, while others caution against unchecked bullish sentiment.

Optimism for Q1 and Bitcoin’s Bullish Trend

Crypto Rover remains confident that history will repeat itself, maintaining that Bitcoin’s price target remains steadfast at $175,000. According to the renowned analyst, a bullish breakout is imminent.

“Q1 is always bullish for altcoins. This time will not be any different. I trust history,” Rover remarked.

Meanwhile, some analysts urge investors to shift their focus away from short-term market tops. Instead, they should concentrate on identifying strong communities with longevity, citing a “war of attrition” in the crypto space.

HODL Protocol reinforces that momentum should guide decision-making rather than an obsession with whether the market has peaked. Their advice is to stay adaptable and focus on long-term gains.

In the same tone, Crypto Nova, a seasoned investor, cautions against attempting to time market tops. Instead, she recommends taking profits gradually, regardless of whether the market continues to rise. This strategy, she argues, will ultimately outperform most traders.

“Hear it from someone that has been here for quite a while: Don’t ever try to time to the top on anything. Not on Bitcoin, not on your favorite alts, not on anything. Eventually, the goal is to take profits before the top of the market happens. Regardless if it keeps running or not. Do that and you’ll outperform almost anyone in this entire space,” the analyst quipped.

Trump’s Influence on Bitcoin and the Crypto Market

Elsewhere, analyst Crypthoem presents an intriguing theory regarding the Trump family’s influence on the crypto market. He suggests that strategic announcements regarding tariffs and liquidity events have been used to depress altcoin prices, making Ethereum (ETH) an attractive buy for major investors.

“Release TRUMP Sucks liquidity out of all alts, allows world liberty fi to buy cheap ETH. Release MELANIA Dumps all alts, allows world liberty fi to buy cheap ETH. Announcing tariffs causes a liquidation cascade in an already weak altcoin market, allowing the world liberty fi to buy cheap ETH. Calls of tariffs bags have been filled,” Hoem wrote.

This theory implies that these events create shakeouts that ultimately benefit well-positioned players.

Nachi, a top trader on Binance, sees a pattern in Trump’s market influence. He suggests the recent tariff news was a deliberate political maneuver to create a crisis, shake out traders, and allow major investors to accumulate Ethereum at lower prices. He believes this cycle will repeat with China, leading to further shakeouts before another major price rally.

Ran Neuner, founder of Crypto Banter, reiterates this allusion, referencing Eric Trump’s tweet suggesting, “It’s a great time to add ETH.” The tweet was later edited, leading analysts like Duo Nine to speculate about potential insider knowledge.

“The Trumps are the ultimate KOL,” Neuner remarked.

However, The DeFi Investor counters this view, arguing that Trump’s DeFi project had already purchased over $100 million worth of Ethereum before Trump’s tariff announcement. This means their holdings also suffered.

Caution Amid Market Uncertainty

Despite the optimism, some analysts are urging caution. Andrew Kang believes the recent rally was a massive mechanical bounce and advises traders to take profits while they can.

“Massive mechanical bounce today. If you made good profits, IMO it is a good spot to secure them. Easy mode is over for alts. Mean reversion buyers turn into mean reversion sellers. There will be more great buying opportunities in February/March,” Kang advised.

In the same tone, Binaso advises traders to cash out profits into their bank accounts instead of stablecoins or other crypto assets. The analyst encourages a disciplined approach to securing gains. Others add to the skepticism, highlighting excessive leverage in the market as traders have been front-running Bitcoin’s rise since $15,000. Nevertheless, with open interest still at extreme levels, chances of a correction remain high.

Sachin Sharma, a market analyst, refutes the notion of an imminent crash. He points out that true market tops are typically marked by excessive speculation and unsustainable valuations, which, in his view, have not yet materialized. He also argues that AI-driven innovations are more likely to fuel growth than cause a downturn.

“Market tops near when IPO and speculative growth tech is going up with no revenue to back. As a sector, tech financial metrics are still within 1-sigma to mean. And BTW the whole AI saga which is leading the market to dip today comes with a promise that you can use AI to improve productivity, products, cash cycle, lower costs, and higher revenues,” the analyst challenged.

However, Evanss6 takes a firm stance, estimating a 90-95% chance the cycle has topped. 

As the debate over whether the crypto market has topped remains highly contentious, traders must navigate the market cautiously. Balancing optimism with risk management strategies to maximize gains ultimately, but investors must also conduct their own research.

BeInCrypto data shows BTC was trading for $98,900 as of this writing, up by over 5% since Tuesday’s session opened.

Crypto prices today have shown signs of recovery as U.S. President Donald Trump’s newly announced import tariffs on Canada and Mexico were paused for 30 days. Bitcoin (BTC) price regained its value, hitting a $102K high amid broader market recovery. Whereas, leading altcoins such as Ethereum (ETH), XRP, and Solana (SOL) pumped over 10% intraday. Simultaneously, meme coins also showcased considerable rising trajectories, with DOGE, SHIB, and PEPE surging nearly 20%.

Here’s a brief overview of some of the most trending crypto market updates for February 4.

Crypto Prices Today Recover Amid Pause On Trump’s Tariffs

Notably, the broader cryptocurrency sector shows signs of recovery as Donald Trump’s newly announced import tariffs on Canada and Mexico have been paused for 30 days. In turn, a trade war triggered previously has now subsided globally, with the market sentiment uplifting.

The U.S. has come into agreement with Canada and Mexico, mainly targeting areas such as border enforcement, drug cartels, and dealing with organized crimes. As a result, “Proposed tariffs will be paused for at least 30 days,” Canadian Prime Minister Justin Trudeau posted on X. However, it’s noteworthy that the tariffs on China stay as is.

In turn, the cryptocurrency prices recovered on Tuesday, with the trade war being one of the quickest ever witnessed. The global crypto market cap soared 8.46% intraday, reaching $3.32 trillion.

Bitcoin Price Recovers Amid Broader Trend

BTC price gained nearly 7% in the past 24 hours and is currently sitting at $100,733. Besides, the coin’s intraday low and high were $92,767.89 and $102,514.17, respectively. Bitcoin’s market dominance saw a 0.99% decline to 60.27%, signaling that altcoins’ recovery outperformed BTC’s.

ETH Price Soars Over 10%

ETH price pumped by 11% intraday and is currently trading at $2,803. The coin’s 24-hour low and high were $2,450.66 and $2,919.48, respectively. The coin rises alongside the broader market recovery, whereas another bullish event unfolded in the past 24 hours. Donald Trump’s World Liberty purchased a staggering 1,826 ETH, per Lookonchain on X, sparking optimism on the coin’s price movements ahead despite its recent ETH dumps.

XRP Price Pumps 20%

XRP price surged by a whopping 20% in the past 24 hours and is currently trading at $2.71. The coin’s intraday bottom and peak were recorded as $2.14 and $2.78, respectively. Notably, the Ripple-backed cryptocurrency also mimics the broader crypto market trend today.

Solana Price Today

SOL price witnessed a 9% uptick in value as of press time, reaching $216. Its intraday low and high were $190.28 and $220.00, respectively.

Meme Crypto Prices Today Mimic Uptrend

Simultaneously, DOGE price rocketed 20% in the past 24 hours, reaching $0.2818. Also, Shiba Inu price soared by 19% intraday and is currently trading at $0.00001627. Further, even PEPE witnessed gains worth 17% over the past day and stood at $0.00001065.

Top Crypto Gainer Prices Today

Onyxcoin (XCN)

Price: $0.03159
24-Hour Gains: +30%

Bittensor (TAO)

Price: $380.68
24-Hour Gains: +30%

Artificial Superintelligence Alliance (FET)

Price: $0.8317
24-Hour Gains: +27%

Meanwhile, there was no market loser today, per Coinmarketcap data, primarily as the market recovered and glimmered with bullishness.

Donald Trump’s Sovereign Wealth Fund Adds To Crypto Market Optimism

Meanwhile, U.S. President Donald Trump has recently signed an executive order to create a Sovereign Wealth Fund, another bullish news for the market. Notably, this fund is aimed at providing America with long-term economic stability. In light of Trump’s pro-crypto approach, market participants now anticipate if Bitcoin and Ethereum could be included in the fund’s assets. Given that this feat is achieved ahead, the BTC and ETH markets could see substantial gains, although no confirmations have been made officially yet.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.