
Cryptocurrency Markets Surge on Inauguration Eve
The cryptocurrency market is experiencing a surge on the last trading day before the presidential inauguration. Data from IntoTheBlock shows an increase in large transaction volume by 6.4%, while daily active addresses have fallen by 2.9%. Transactions exceeding $100,000 have jumped from 11,601 to 12,233 in a single day. Additionally, exchange netflows have decreased by 268%.
Coinglass data reports that 94,646 traders were liquidated in the past 24 hours, amounting to $285.01 million.
Predictions for 2025
A crypto hedge fund predicts that 2025 will see the introduction of a Dogecoin ETF, a Strategic Bitcoin Reserve, and a "MicroStrategy of Ethereum."
Trader Notes
Bitcoin has reached the $105,000 mark, fueled by speculation that President-elect Donald Trump may announce a "Strategic" Bitcoin Reserve.
Economist Peter Schiff expressed concerns, hoping Trump won't compromise the country's integrity just to benefit Bitcoin donors. He warns that such a reserve could lead to higher inflation and a weaker economy.
Crypto chart analyst Ali Martinez pointed out that Bitcoin has broken out of a cup-and-handle pattern, suggesting a potential upside target of $276,400.
Crypto trader Stoic observed that Bitcoin has reclaimed a key level from the Dec. 18 sell-off, now 5% above the HTF range value. He believes that if Bitcoin stabilizes, altcoins could have room to perform over the weekend.
Crypto trader Jelle highlighted a spot-driven rally that breached a key level, signaling strong momentum. He predicts that if Bitcoin closes the day around $104,738, the path will be clear for new all-time highs.
Bitcoin ETFs Outperform in First Year
An expert notes that Bitcoin ETFs have outperformed in their first year, but Solana and XRP ETFs face challenges.