3 hours ago
By Omkar Godbole (All times ET unless indicated otherwise)
Bitcoin remains well supported supra $100,000 arsenic it eyes grounds highs, buoyed by reports that the caller SEC enactment has established a task unit to make a model for crypto assets. Pundits person agelong said regulatory clarity could pave the mode for further terms appreciation.
Gold's terms rebound from December lows has besides gathered gait and is present conscionable 1% shy of mounting caller highs supra $2,790 per ounce. That's unusual: Bitcoin typically rallies when the terms of golden stagnates.
Perhaps golden is saying the Fed volition locomotion backmost connected its hawkish December bias that signaled less complaint cuts, helping support BTC bid. And wherefore not? Reports bespeak that Trump's tariffs volition beryllium lighter than anticipated and research from MacroMicro shows that their inflationary interaction during his erstwhile presidency was minimal.
In the broader crypto market, on-chain information from IntoTheBlock reveals that 80% of addresses holding LINK, 1 of the caller apical performers, are successful nett astatine the going marketplace complaint of $25.70. Key absorption levels person been identified astatine $27 and $29, which acted arsenic barriers past year.
The question of XRP, different caller outperformer, betwixt addresses owned by whales and centralized exchanges has slowed considerably from the grounds levels earlier this month. That whitethorn beryllium a motion these ample holders person slowed their profit-taking activity.
Meanwhile, traders are expressing enthusiasm with sentiments similar "we are truthful back," particularly aft Bloomberg's James Seyffart shared filings for ETF applications involving coins including LTC, SOL, DOGE, XRP and others. It seems the momentum successful some the crypto and accepted markets could beryllium mounting the signifier for an breathtaking play ahead. Stay alert!
What to Watch
Crypto
Jan. 22, 10:30 a.m.: Solana-powered decentralized speech (DEX) aggregator Jupiter's JUP airdrop assertion goes live. Jupiter’s users person 3 months to claim.
Jan. 22, 10:25 p.m.: dYdX Chain (DYDX) volition acquisition a software upgrade to v8.0 connected artifact 35,602,000.
Jan. 23: First deadline for SEC determination connected NYSE Arca's proposal to database and commercialized shares of Grayscale Solana Trust (GSOL), a closed-end trust, arsenic an ETF.
Jan. 25: First deadline for SEC decisions connected proposals for 4 spot solana ETFs: Bitwise Solana ETF, Canary Solana ETF, 21Shares Core Solana ETF and VanEck Solana Trust, which are each sponsored by Cboe BZX Exchange.
Jan. 29: Ice Open Network (ION) mainnet launch.
Feb. 4: MicroStrategy Inc. (MSTR) reports Q4 2024 earnings.
Feb. 4: Pepecoin (PEPE) halving. At artifact 400,000, the reward volition driblet to 31,250 pepecoin.
Feb. 5, 3:00 p.m.: Boba Network's Holocene hard fork web upgrade for its Ethereum-based L2 mainnet.
Feb. 12: Hut 8 Corp. (HUT) reports Q4 2024 earnings.
Feb. 15: Qtum (QTUM) hard fork web upgrade is scheduled to instrumentality spot astatine artifact 4,590,000.
Feb. 20: Coinbase Global (COIN) reports Q4 2024 earnings.
Macro
Jan. 22, 8:30 a.m.: Statistics Canada releases December’s Industrial Product Price Index.
PPI MoM Est. 0.8% vs. Prev. 0.6%.
PPI YoY Prev. 2.2%.
Jan. 22, 10:00 a.m.: The Conference Board releases December's Leading Economic Index (LEI) report for the U.S.
MoM Est. -0.1% vs. Prev. 0.3%.
Jan. 23, 8:30 a.m.: The U.S. Department of Labor releases the Unemployment Insurance Weekly Claims Report for the week ended Jan. 18.
Initial Jobless Claims Est. 215K vs. Prev. 217K.
Jan. 23, 10:00 a.m.: The National Association of Realtors releases December 2024 U.S. Existing Home Sales report.
Existing Home Sales Est. 4.16M vs. Prev. 4.15M.
Existing Home Sales MoM Prev. 4.8%.
Jan. 23, 4:30 p.m.: The Fed releases the H.4.1 report, the cardinal slope equilibrium sheet, for the week ended Jan. 22.
Total Reserves Prev. $6.83T.
Jan. 23, 6:30 p.m.: Japan's Ministry of Internal Affairs and Communications releases December 2024's Consumer Price Index (CPI) report.
Inflation Rate MoM Prev. 0.6%.
Core Inflation Rate YoY Est. 3% vs. Prev. 2.7%.
Inflation Rate YoY Prev. 2.9%.
Jan. 23, 10:00 p.m.: The Bank of Japan (BoJ) releases Statement connected Monetary Policy.
Interest Rate Decision Est. 0.5% vs. Prev. 0.25%.
Token Events
Governance votes & calls
CoW DAO is discussing the imaginable allocation of 80 cardinal COW to empower the halfway treasury squad for further liquidity provisioning, economical opportunities, and the improvement of the DAO’s merchandise roadmap from 2025 to 2028.
Morpho DAO is discussing reducing incentives by 30% crossed each networks and assets.
Yearn DAO is discussing backing and endorsing a subDAO called Bearn to absorption connected gathering and launching products connected Berachain.
Jan. 22: Mantle (MNT) volition big a livestream with updates connected its 2025 roadmap astatine 8 a.m.
Jan. 23: Pendle (PENDLE) is hosting Pendle Swing Hour astatine 7 a.m.
Unlocks
Jan. 31: Jupiter (JUP) to unlock 41.5% of circulating proviso worthy $626 million.
Token Launches
Jan. 22: Jambo (J) is listing connected OKX, Gate.io, Bitfinex and Bybit.
Jan. 22: Liquity (LQTY) and Gravity (G) are being listed connected Kraken.
Jan. 22: Telegram Gifts are launching arsenic NFTs connected TON.
Conferences:
Day 10 of 12: Swiss WEB3FEST Winter Edition 2025 (Zug, Zurich, St. Moritz, Davos)
Day 3 of 5: World Economic Forum Annual Meeting (Davos-Klosters, Switzerland)
Jan. 24-25: Adopting Bitcoin (Cape Town, South Africa)
Jan. 25-26: Catstanbul 2025 (Istanbul). The archetypal assemblage league for Jupiter, a decentralized speech (DEX) aggregator built connected Solana.
Jan. 30, 12:30 p.m. to 5:00 p.m.: International DeFi Day 2025 (online)
Jan 30-31: Plan B Forum (San Salvador, El Salvador)
Jan. 30 to Feb. 4: The Satoshi Roundtable (Dubai)
Feb. 3: Digital Assets Forum (London)
Feb. 5-6: The 14th Global Blockchain Congress (Dubai)
Feb. 7: Solana APEX (Mexico City)
Feb. 13-14: The 4th Edition of NFT Paris.
Feb. 18-20: Consensus Hong Kong
Feb. 23 to March 2: ETHDenver 2025 (Denver, Colorado)
Token Talk
By Shaurya Malwa
Uniswap to statesman v4 deployments this week for builders to trial hooks and integrations on-chain. The caller architecture of v4, including the singleton declaration and flash accounting system, is designed to trim transaction costs and amended efficiency, which could pull much developers and users to the platform, expanding the wide usage of Uniswap, and, successful turn, request for UNI tokens.
AI16Z and AI Rig Complex's ARC rallied implicit 30% connected Tuesday portion GRIFFAIN, ZEREBRO besides booked double-digit advances. President Trump unveiled a $500 cardinal concern successful backstage assemblage AI infrastructure concern with firms specified arsenic OpenAI, Oracle and Softbank involved.
Derivatives Positioning
TRX, SHIB, PEPE and DOGE pb perpetual futures unfastened involvement maturation successful large-cap tokens. However, TRX is the lone 1 with a affirmative cumulative measurement delta, representing nett buying unit successful the past 24 hours.
Front-end telephone bias successful BTC and ETH options connected Deribit continues to mean portion connected the CME, telephone skew jumped to highest since the U.S. predetermination Tuesday.
Block flows featured agelong positions successful BTC calls astatine $110K and $115K strikes and bull telephone spreads successful ETH.
Market Movements:
BTC is down 0.9% from 4 p.m. ET Tuesday astatine $105,161.32 (24hrs: +1.32%)
ETH is unchanged astatine $3,312.58 (24hrs: +0.28%)
CoinDesk 20 is up 0.6% astatine 4,000.99 (24hrs: +2.27%)
Ether staking output is down 28 bps astatine 3.3%
BTC backing complaint is astatine 0.0045% (4.9% annualized) connected OKX
DXY is down 0.23% astatine 107.81
Gold is up 0.56% astatine $2,759.03/oz
Silver is up 0.33% astatine $30.88/oz
Nikkei 225 closed +1.58% to 39,646.25
Hang Seng closed -1.63% to 19,778.77
FTSE is up 0.41% astatine 8,583.19
Euro Stoxx 50 is up 0.83% astatine 5,209.04
DJIA closed connected Tuesday +1.24% to 44,025.81
S&P 500 closed +0.88% to 6,049.24
Nasdaq closed +0.64% to 19,756.78
S&P/TSX Composite Index closed +0.44% to 25,281.63
S&P 40 Latin America closed +0.51% to 2,269.78
U.S. 10-year Treasury is unchanged astatine 4.58%
E-mini S&P 500 futures are up 0.49% astatine 6,114.25
E-mini Nasdaq-100 futures are up 0.88% astatine 21,900.00
E-mini Dow Jones Industrial Average Index futures are up 0.19% astatine 44,320.00
Bitcoin Stats:
BTC Dominance: 58.67
Ethereum to bitcoin ratio: 0.031
Hashrate (seven-day moving average): 769 EH/s
Hashprice (spot): $60.7
Total Fees: 10.2 BTC / $1.1 million
CME Futures Open Interest: 502,406
BTC priced successful gold: 38.1 oz
BTC vs golden marketplace cap: 10.83%
Technical Analysis
The dollar scale (DXY) looks south, having dived retired of a bullish trendline from precocious September lows adjacent 100.
The diminution successful DXY could adhd to the bullish momentum successful risky assets.
Crypto Equities
MicroStrategy (MSTR): closed connected Tuesday astatine $389.10 (-1.87%), down 0.63% astatine $386.58 successful pre-market.
Coinbase Global (COIN): closed astatine $294.19 (-0.44%), down 1% astatine $291.26 successful pre-market.
Galaxy Digital Holdings (GLXY): closed astatine C$31.25 (+0.32%)
MARA Holdings (MARA): closed astatine $19.56 (-1.76%), down 1.07% astatine $19.35 successful pre-market.
Riot Platforms (RIOT): closed astatine $12.74 (-4.85%), down 0.24% astatine $12.71 successful pre-market.
Core Scientific (CORZ): closed astatine $15.27 (+1.8%), down 0.79% astatine $15.15 n pre-market.
CleanSpark (CLSK): closed astatine $10.96 (-7.67%), up 0.36% astatine $11 successful pre-market.
CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed astatine $24.97 (-1.58%).
Semler Scientific (SMLR): closed astatine $64.94 (+0.4%), down 4.22% astatine $62.20 successful pre-market.
Exodus Movement (EXOD): closed astatine $40 (+3.87%), down 2.35% astatine $39.06 successful pre-market.
ETF Flows
Spot BTC ETFs:
Daily nett flow: $802.6 million
Cumulative nett flows: $39.98 billion
Total BTC holdings ~ 1.155 million.
Spot ETH ETFs
Daily nett flow: $74.4 million
Cumulative nett flows: $2.74 billion
Total ETH holdings ~ 3.622 million.
Source: Farside Investors
Overnight Flows
Chart of the Day
The illustration shows XRP's speech reserve oregon equilibrium held successful wallets tied to centralized exchanges since June 2024.
The equilibrium has dropped sharply since Jan. 16, signaling a resumption of the broader downtrend.
The renewed exodus of coins from exchanges indicates capitalist bias for holding.
While You Were Sleeping
Deribit's Crypto Trading Volume Nearly Doubled to Over $1T successful 2024 (CoinDesk): Cryptocurrency speech Deribit’s full trading measurement roseate 95% year-on-year to $1.185T successful 2024, driven by a 99% surge successful options trading to $743B, reflecting organization adoption and marketplace maturity.
Trump Pardons Silk Road Creator Ross Ulbricht (Cointelegraph): President Trump granted a afloat pardon to Ross Ulbricht, sentenced to beingness without parole successful 2015 for creating and operating Silk Road, an online marketplace unopen down successful 2013 that utilized bitcoin for payments.
Trump-Affiliated World Liberty Financial Makes Another TRX Buy (CoinDesk): World Liberty Financial, a crypto task linked to Trump’s family, added 10.8 cardinal TRX ($2.6 million) to its treasury, raising full TRX holdings to $7.5 million. Sources accidental WLFI plans to further summation its TRX holdings.
Dollar Could Fall if U.S. Tariffs Less Stringent Than Threatened (The Wall Street Journal): The dollar whitethorn weaken if Trump’s tariffs are milder than expected, analysts say. The yuan shows resilience arsenic markets set to a imaginable 10% tariff connected Chinese imports, little than Trump’s run pledges of 60%.
BOJ Heads Toward Rate Hike arsenic Markets Take Trump successful Stride (Bloomberg): The Bank of Japan is expected to rise rates by 25 ground points to 0.5% connected Friday, the highest since 2008, with swaps pricing a 90% accidental and 74% of analysts expecting the move.
The Market Is Wrong About US Rates Under Trump successful 2025 (Financial Times): In an op-ed, the laminitis of ABP Invest argues markets are incorrect to expect Fed complaint cuts successful 2025. He predicts robust U.S. maturation and Trump’s policies volition thrust complaint hikes from September.
In the Ether
English (US) 