2025-01-28 20:44:49 by Benzinga

Cryptocurrency markets are up amid growing market optimism, with significant inflows into Bitcoin ETFs during President Trump's first week in office and Metaplanet setting a goal of acquiring 10,000 BTC by the end of 2025. CryptocurrencyPrice   Gains +/-Bitcoin BTC/USD $102,051.29+1.7%Ethereum ETH/USD $3,139.35+1.2%Solana SOL/USD $231.28+0.6%XRP XRP/USD $3.11+5.9%Dogecoin DOGE/USD $0.3256+0.06%Shiba Inu SHIB/USD $0.00001847-0.5%Notable Statistics: IntoTheBlock data shows large transaction volume increasing by 65.7% and daily active addresses grew by 22.3%. Transactions greater than $100,000 are up from 8,000 to 12,753 in a single day. Exchanges netflows are up by 33%. Coinglass data reports 91,940 traders were liquidated in the past 24 hours for $224.23 million. Notable Developments: EXCLUSIVE: Worksport Taps Coinbase As Cryptocurrency Custodian For Treasury Strategies Maple Finance CEO Sees Bitcoin Yield, AI, Cross-Chain As DeFi’s Next Frontier ‘Asia’s MicroStrategy’ Metaplanet Targets 21,000 Bitcoin Holdings By End Of 2026 Jim Cramer Endorses Bitcoin As A ‘Great Thing,’ But Guess What He Had To Say About MicroStrategy Tuttle Capital Pushes Boundaries With TRUMP And MELANIA Memecoin ETFs, Along With Few Others Top Losers: CryptocurrencyPrice   Gains +/-Pudgy Penguins PENGU/USD$0.0171-19.3%Fartcoin FARTCOIN/USD $0.844-10.8%Virtuals Protocol VIRTUAL/USD$1.95-8.4%Trader Notes: As Bitcoin prices rise, crypto trader Jelle observed that key support has been reclaimed. He points out that “$110,000 remains the level to break. Above that, it's thin air.” He also suggests Bitcoin is setting up nicely for another cycle of “Red Monday, green week.” Crypto trader Kevin pointed out that everything today feels irrelevant ahead of Wednesday’s first FOMC meeting of the year, which will set the tone for monetary policy in 2025 and act as a major market mover. He is especially watching to see if the Fed significantly slows the pace of its balance sheet reduction—a sign that QT could be ending soon. A dovish Powell, paired with the new administration, might ignite a rally. Daan Crypto Trades, on the other hand, emphasizes that while people often argue “this time is different” for Bitcoin, he prefers to focus on the chart. He expects the upward trend to continue as long as the bullish market structure holds. Daan advises against overcomplicating things and warns that focusing too much on lower timeframes can make it harder to navigate a strong bull trend. $BTC There's always plenty of arguments why this time would be different.But I like to let the chart speak and until the bullish market structure is lost, I'm assuming the trend is still ongoing and to expect higher over time.Overcomplicating and focussing too much on the… pic.twitter.com/aa1pHT8It1— Daan Crypto Trades (@DaanCrypto) January 28, 2025 Read Next:  Bitcoin Drop To $95,000 Could Be Imminent, Analyst Warns Image: Shutterstock Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.