This Week's Crypto Watch: Bitcoin, XRP, Dogecoin & More Amid Market Turmoil

The crypto market is currently deep in the red ahead of Donald Trump’s inauguration, influenced by an unexpected jobs report and fears of higher-than-expected inflation data. This situation highlights the growing interconnection between the crypto market and broader macroeconomic trends.

Cryptocurrencies to Watch

Here’s a closer look at the cryptocurrencies that are capturing attention this week:

Bitcoin (BTC)

Bitcoin has seen a drop of over 9% in the past week, trading at $90,303. The market is bracing for increased volatility as Trump prepares for his inauguration, with speculation surrounding potential favorable policies for crypto miners.

Illustration: Chesnot (Getty Images)

Ether (ETH)

Ether, the second-largest cryptocurrency, has underperformed Bitcoin, posting a 17% loss over the past week, now at $3,037. The decline is attributed to a sustained outflow from Ether exchange-traded funds (ETFs).

Illustration: Dan Kitwood (Getty Images)

XRP

XRP is under the spotlight as Ripple faces a pivotal hearing on January 15 regarding its legal battle with the U.S. Securities and Exchange Commission (SEC). Currently, XRP is trading at $2.45, with a slight increase of 0.74% over the week.

Illustration: INA FASSBENDER (Getty Images)

Dogecoin (DOGE)

Dogecoin is also in focus, trading at $0.32 with a 17% weekly decline. Speculation about potential price swings is fueled by Elon Musk's close ties to Trump.

Illustration: Chesnot (Getty Images)

Bitget Token (BGB)

In contrast, Bitget Token (BGB) is on the rise, trading at $6.6 with a 5.8% increase this week. This growth is linked to Bitget introducing Solana limit order functionality and burning 40% of its circulating tokens, reducing supply and potentially increasing value.

Image: SOPA Images (Getty Images)