1. Market observation
Keywords: Trump, ETH, BTC
On January 20, 2025, on the eve of the inauguration of US President-elect Donald Trump, Bitcoin broke through $109,000 to set a record high. It is worth noting that Trump-related organizations have shown a strong interest in cryptocurrencies. His family project World Liberty Financial purchased millions of dollars worth of Bitcoin a few hours before the inauguration. After taking office, Trump's World Liberty Organization invested an additional $47 million in Bitcoin.
However, Trump did not mention Bitcoin in his inaugural speech, which unexpectedly caused market shocks and led to liquidations of up to $1.28 billion in the cryptocurrency market. Bitcoin traders reacted cautiously to this and generally waited to see whether President Trump would issue an executive order in favor of BTC. Although Bitcoin briefly pulled back to $99,000, analysts are still optimistic about its future performance and expect it to break through $110,000 to set a new high.
Meanwhile, the Ethereum ecosystem is also developing actively. The Ethereum Foundation is exploring new options for ETH staking as a payment method, and has taken an important step in supporting the decentralized finance (DeFi) ecosystem by transferring $165 million in ETH to establish a multi-signature wallet. Despite the Foundation's active actions, Ethereum prices still fell by 2% due to weakening demand. However, market experts remain optimistic about its prospects, predicting that Ethereum prices are expected to reach $14,000 by the end of 2025.
It is worth mentioning that El Salvador continues to stick to its cryptocurrency strategy and continues to increase its holdings of Bitcoin. This move has triggered market speculation that the price of Bitcoin may break through the $150,000 mark.
2. Key data (as of 10:10 HKT on January 22)
S&P 500: 6,049.24 (+2.85% year-to-date)
Nasdaq: 19,756.78 (+2.31% year-to-date)
10-year Treasury yield: 4.591% (+1.50 basis points this year)
US dollar index: 108.12 (-0.32% year-to-date)
Bitcoin: $105,908 (+13.38% year-to-date), with a daily spot volume of $82.18 billion
Ethereum: $3,334.99 (-0.29% year-to-date), with a daily spot volume of $30.88 billion
3. ETF flows (January 21 EST)
Bitcoin ETF: +$140.64 million
Ethereum ETF: +$18.11 million
4. Important Dates (Hong Kong Time)
Second-hand housing sales (January 24, 23:00)
Actual: To be announced / Previous value: 4.15 million units / Expected: 4.16 million units
5. Hot News
Circle has minted 2.5 billion USDC on Solana in the past 4 days
Trump: Signed pardon for Silk Road founder Ross Ulbricht
Trump responds to coin issuance: I don’t know much about TRUMP coin, I just know that I launched it
Trump: OpenAI, SoftBank and Oracle will invest $500 billion in artificial intelligence
US SEC launches cryptocurrency task force to develop regulatory framework
Kenya proposes law requiring digital asset businesses to have local offices
Circle acquires Hashnote to enter asset tokenization market
Bitstamp plans to launch regulated crypto derivatives trading service in Europe
KULR adds $8 million to Bitcoin investment, total holdings reach 510
MicroStrategy purchased 11,000 additional Bitcoins, with a total value of approximately $1.1 billion
Linea: 476,000 Sybil attack addresses found, no airdrops will be provided
Mark Cuban considers creating meme coin, sales proceeds will go to the U.S. Treasury
Utah lawmaker proposes strategic Bitcoin reserve legislation
Trump's speech ends without mentioning cryptocurrencies
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