Bhushan Akolkar https://coinpress.live/author/bhushan/ coinpress - 24*7 Crypto Updates Sat, 11 Jan 2025 13:18:03 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://coinpress.live/wp-content/uploads/2023/11/cropped-coinpress_logo2-32x32.png Bhushan Akolkar https://coinpress.live/author/bhushan/ 32 32 Bitget Token Price Jumps 12% Defying Market Trend, Can BGB Rally Continue? https://coinpress.live/bitget-token-price-jumps-12-defying-market-trend-can-bgb-rally-continue/ Sat, 11 Jan 2025 13:18:03 +0000 https://coinpress.live/?p=233059 Bitget token (BGB) price shot up by 12% in the last 24 hours reclaiming its spot in the top twenty crypto-list despite the broader crypto market in a downtrend. Since the beginning of 2025, BGB has resumed its upward trajectory gaining nearly 20% over the past week even in this market volatility with surging trading

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Bitget token (BGB) price shot up by 12% in the last 24 hours reclaiming its spot in the top twenty crypto-list despite the broader crypto market in a downtrend. Since the beginning of 2025, BGB has resumed its upward trajectory gaining nearly 20% over the past week even in this market volatility with surging trading volume showing investor confidence.

Will the Bitget Token Price Rally Continue?

The Bitget token witnessed a parabolic rally soon after Donald Trump’s election victory in early November, registering nearly 8x gains in less than two months time. However, after dropping to $5 support levels, the Bitget token price has been on an upward trajectory since the beginning of 2025.

A Closer Look Into BGB Price Chart

With today’s surge, the Bitget token has given a strong breakout above the crucial resistance of $6.72. More importantly, this breakout comes with a 101% surge in daily trading volume at $739 million which suggests that the rally will continue for some more time.

Prior to this breakout, BGB successfully surpassed a descending trendline resistance at the $6.30 level on the technical chart. Historically, such trendline breakouts have triggered significant rallies in BGB, often propelling the token to new all-time highs.

Source: TradingView

If this pattern holds, BGB could target its previous all-time high of $8.50, with another 20% gains from the current price of $7.25.

Technical Indicators In Focus

Moreover, other technical indicators for Bitget tokens like MACD (Moving Average Convergence Divergence) are showing bullish momentum as the MACD line crosses above the signal line hinting at a continued upward price action.

On the other hand, the Relative Strength Index (RSI) is currently at 75.2 suggesting strong buying momentum. Although it is approaching the overbought territory, it suggests that the buyers are still in control.

Key Factors Behind the BGB Rally

Apart from the technical breakout for the Bitget token price, there are some fundamental contributing to the BGB rally. First and foremost is the Bitget exchange securing approval from El Salvador’s Central Reserve Bank to function as a licensed Bitcoin Service Provider. It would allow it to enable fiat-to-Bitcoin exchange services as well as BTC custody offerings. Besides, Bitget Wallet also introduced AI Agent trading zone recently with the growing AI hype globally. This is also likely to contribute to its ongoing positive momentum.

Another reason that supported the rally was the 800 million BGB token burn which reduced the supply by 40%. The exchange has pledged to conduct regular quarterly burns, reducing supply and enhancing the token’s value through increased scarcity.

Furthermore, the exchange announced that it will merge the Bitget wallet token (BWB) with the BGC token thereby creating a unified token experience in the ecosystem. More recently, crypto exchange Bitget has revealed the cross-chain integration of its native token, Bitget Token (BGB), onto the Morph Chain, enhancing its utility and accessibility across the blockchain ecosystem.

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Fed Rate Cuts Not Coming Before June 2025, BTC Price Rally Delayed? https://coinpress.live/fed-rate-cuts-not-coming-before-june-2025-btc-price-rally-delayed/ Sat, 11 Jan 2025 08:57:52 +0000 https://coinpress.live/?p=233000 The US non-farm payroll data (NFP) data showed that the US economy added greater than expected jobs last month in December 2024. This has dwindled the chances of a Fed rate cut coming in March this year, which could further delay the chances of a BTC price rally to $200K this year. Fed Rate Cuts

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The US non-farm payroll data (NFP) data showed that the US economy added greater than expected jobs last month in December 2024. This has dwindled the chances of a Fed rate cut coming in March this year, which could further delay the chances of a BTC price rally to $200K this year.

Fed Rate Cuts Delayed To June 2025

Following December’s employment data, top market analysts stated that the stronger-than-expected jobs market is likely to have stick inflation going ahead which would prevent the Fed from announcing rate cuts soon.

The U.S. economy added 256,000 jobs in December, surpassing expectations of 164,000. On the other hand, the unemployment rate dropped to 4.1%, better than the projected 4.2%.

Goldman Sachs economists, led by Jan Hatzius, now anticipate Fed rate cuts in June and December 2025, as well as June 2026. This revises their earlier forecast of cuts in March, June, and September while maintaining their projection for a terminal rate of 3.5%-3.75%. According to a new report, Bank of America economists led by Aditya Bhave wrote:

“After a very strong December jobs report, we think the cutting cycle is over. The conversation should move to hikes”.

Economists Andrew Hollenhorst and Veronica Clark at Citigroup stated in a note that they are “not overly concerned about scenarios where the Fed refrains from cutting rates this year”. They added:

While employment “is holding up better than we had expected, price and wage inflation are both cooling and should have officials comfortable cutting even in a still-strong economy”.

BTC Price Recovery to See Delays?

Following the all-time highs in December last month, the Bitcoin price has continued to stay under selling pressure slipping under $95,000 levels. However, with the Fed rate cuts, analysts are concerned that it could further delay BTC price recovery from here amid the absence of fresh liquidity.

However, Bill Barhydt, founder of Abra Global, has forecasted the return of quantitative easing (QE) and looser bank balance sheet policies as necessary measures to address the 30-year U.S. Treasury bubble. In a statement, Barhydt asserted that upcoming Federal Reserve rate cuts alone will not be sufficient to tackle the issue.

“QE is coming. Fed rate reductions will not prick the 30-year Treasury bubble. Only QE and looser bank balance sheet policies will do that. Buckle up,” he said.

Furthermore, Wall Street analysts are confident of a Bitcoin price recovery along with the expansion of the global M2 money supply. With Donald Trump’s inauguration just 10 days from now, the crypto industry is also hoping for the Trump effect to kick in.

Bitcoin Chop Won’t Last Long

Crypto analyst IncomeSharks has suggested that Bitcoin’s current consolidation phase may be shorter and more bullish compared to previous cycles. “Just be lucky we don’t have to chop for 7 months this time,” the analyst noted. However, the analyst noted that the current 2 to 3 months of consolidation could lead to capitulation for many investors.

Source: IncomeSharks

Despite this, IncomeSharks described the ongoing market movement as a “more bullish consolidation pattern than before,” signaling potential optimism for Bitcoin’s trajectory in the coming months.

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Crypto Czar David Sacks To Host Inaugural Crypto Ball, What to Expect? https://coinpress.live/crypto-czar-david-sacks-to-host-inaugural-crypto-ball-what-to-expect/ Sat, 11 Jan 2025 07:29:24 +0000 https://coinpress.live/?p=232998 The newly appointed AI and Crypto Czar David Sacks will host the inaugural Crypto Ball with several industry leaders in attendance next week. As Donald Trump takes charge as President on January 20, the crypto industry has high hopes from Sacks with expectations of more crypto-friendly policies. Crypto Ball to Have Exclusive VIP Reception With

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The newly appointed AI and Crypto Czar David Sacks will host the inaugural Crypto Ball with several industry leaders in attendance next week. As Donald Trump takes charge as President on January 20, the crypto industry has high hopes from Sacks with expectations of more crypto-friendly policies.

Crypto Ball to Have Exclusive VIP Reception With David Sacks

Next Friday, BTC Inc. along with Stand With Crypto will host the inaugural Crypto Ball event featuring a VIP reception hosted by MAGA Inc., a Trump-aligned super PAC. AI and Crypto Czar David Sacks will be leading the event, reported Fox Business’ crypto journalist Eleanor Terret.

A Closer Look Into The Development

Citing sources familiar with the matter, Terret also stated that President-elect Donald Trump won’t be attending the event. The tickets for the exclusive VIP reception are currently priced at $100,000 each.

For those seeking a premium experience, a $1 million package is also available, which includes four reception tickets and a single ticket to a future dinner with President Trump. With the Inaugural Crypto Ball event, crypto industry leaders are likely to assert more influence in Washington DC.

The Trump administration is likely to be the most overtly pro-crypto in history, with plans to implement industry-friendly policies. This also includes a comprehensive overhaul of financial regulations to address the sector’s key priorities.

Crypto Czar David Sacks In Focus

The role of crypto czar David Sacks would be crucial in crypto-policy framing as he will serve as the bridge between the Trump administration and the crypto industry. Market analysts believe that he would play a crucial role in removing excessive regulations and bringing conducive policies for the crypto industry to function in sync with the traditional financial industry.

This would also pave the way for building a strategic US Bitcoin reserve. Besides, the anticipation over the reserve is also soaring as Paul Atkins is also scheduled to succeed the current US SEC Chair Gary Gensler later these months. These are among the top crypto events for January alongside Donald Trump’s inauguration.

Industry Leaders Extend Support

Some of the top crypto industry firms like MicroStrategy, Coinbase, MetaMask, Metaplanet, and Galaxy Digital, have joined as sponsors of the Crypto Ball event. Bitcoin miner Marathon Digital recently joined the list of sponsors for the event. Chairman and CEO of MARA Holdings, Fred Thiel stated:

“Bitcoin represents the future and America is primed to lead the charge, empowering a new era of economic growth, national security, and freedom. MARA is proud to sponsor the Inaugural Crypto Ball in Washington DC, hosted by David Sacks and David Bailley”.

The industry will be watching the first major crypto event directly in association with the lawmakers from the White House. This would help to fast-track crypto policies and help in realizing Trump’s dream of making America the crypto capital of the world.

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Altcoins Bull Market: Just A Shakeout or Endgame? https://coinpress.live/altcoins-bull-market-just-a-shakeout-or-endgame/ Fri, 10 Jan 2025 12:08:18 +0000 https://coinpress.live/?p=232862 With Bitcoin and the overall crypto market facing a major correction, investors question whether this is the end of the altcoins bull market. However, popular analyst Michael van de Poppe believes that the bull market is very much intact and the current phase is just the final shakeout before a mega rally ahead. Altcoins Market

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With Bitcoin and the overall crypto market facing a major correction, investors question whether this is the end of the altcoins bull market. However, popular analyst Michael van de Poppe believes that the bull market is very much intact and the current phase is just the final shakeout before a mega rally ahead.

Altcoins Market Rally to Continue Per Historical Trends

Calling it a temporary shakeout in the altcoins market, popular crypto analyst Michael van de Poppe draws comparisons with the historical patterns from the past bull runs in 2017 and 2021 and the overall outperformance in that bullish cycle.

Similarly, while Bitcoin has dominated market trends in 2023 and 2024, with a meteoric rise from $17,000 in late 2022 to $93,000 today, altcoins are poised for a resurgence. Michael van de Poppe explained that recent setbacks, including fears surrounding USDT Tether, rising yields, and a strong U.S. dollar, have dampened market sentiment.

However, political and economic developments, such as President-elect Donald Trump’s pledge to lower interest rates, signal a potential shift. Trump’s policies aim to address high debt payments and a strong dollar, mirroring his approach in 2016, which subsequently boosted markets following a massive expansion of global M2 money supply.

Key Factors to Watch Ahead

In his message on the X platform, Michael van de Poppe shares some of the key macro indicators and other factors to watch ahead for big opportunities in the altcoins market. Below are the three key factors to watch for:

  1. Macroeconomic Shifts: Inflation, slowing GDP, and weakening labor markets are signs of economic softness. If these trends result in lower yields and quantitative easing (QE), cryptocurrencies stand to benefit.
  2. Political Influence: Trump’s potential economic policies, including reduced interest rates and a weaker dollar, could catalyze a bullish crypto cycle.
  3. Altcoin Valuations: Many altcoins are at cycle lows against Bitcoin, historically a signal for future market rallies.

Altseason Index Drops Under Crucial Support

Following the recent crypto market correction, the altseason indicator has dropped under crucial support levels indicating that the market is not in an altseason. However, with the indicator dropping below the 50 mark, it presents a promising opportunity for investors to accumulate altcoins, noted Michael van de Poppe, citing Blockchain Center data.

Source: Blockchain Center

He predicts that crypto will thrive under a crypto-friendly Trump administration, particularly as QE policies gain traction. As meetings between Trump and crypto leaders make headlines, investors are urged to remain patient. Current market conditions, while challenging, are not indicative of a bear market.

With altcoins at low valuations and Bitcoin yet to enter a euphoria phase, the crypto market is poised at the cusp of a potentially massive 4-year cycle. Also, the announcement of a US Bitcoin reserve in Q1 could be a game-changer for the overall crypto space.

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19000 BTC Options to Expire Ahead Of Key US Non-Farm Payrolls Data https://coinpress.live/19000-btc-options-to-expire-ahead-of-key-us-non-farm-payrolls-data/ Fri, 10 Jan 2025 09:50:38 +0000 https://coinpress.live/?p=232843 A massive 19,000 Bitcoin (BTC) options are set to expire before the release of US Nonfarm Payrolls (NFP) data release today. The BTC price is showing some volatility taking a dive to $91,380 levels earlier today before recovering back above $94,000. A drop in Bitcoin funding rate and exchange volume hints at volatility in the

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A massive 19,000 Bitcoin (BTC) options are set to expire before the release of US Nonfarm Payrolls (NFP) data release today. The BTC price is showing some volatility taking a dive to $91,380 levels earlier today before recovering back above $94,000. A drop in Bitcoin funding rate and exchange volume hints at volatility in the short-term. In addition, a massive 141,000 ETH options will also expire today.

19000 BTC Options Expiry Amid Bitcoin Price Drop

A total of 19,000 Bitcoin options expired this week with a notional value of $1.81 billion. The BTC options expiry has a put-call ratio of 0.65, a maximum pain point of $97,000, hinting that the bullish bias continues despite the price decline, per the data from Deribit exchange.

Source: Deribit

The expiration occurred against the backdrop of a sharp pullback in the broader market, driven by weakness in U.S. equities and unfavorable macroeconomic conditions. Bitcoin price briefly dipped below $91,000, marking its lowest level in nearly a month. This decline comes along with a sharp surge in short-term implied volatility (IV) for BTC options, thereby hinting at market panic and uncertainty.

The crypto market is bracing for some macro headwinds such as Nonfarm Payrolls (NFP) data on Friday, US CPI data release on Jan 15, and the FOMC meeting later this month. Some Wall Street analysts are optimistic about Bitcoin price recovery along with a surge in the global M2 money supply.

Bitcoin Short-Term Prediction After BTC Options Expiry

Along with BTC options data, Bitcoin short-term indicators flash concerns showing weakness for the world’s largest crypto asset class. A key metric, Hot Capital—representing capital revived over the past seven days—has plummeted 66.7%, dropping from its December 12 peak of $96.2 billion to $32.0 billion.

19000 BTC Options, 141,000 ETH Options to Expire Ahead Of Key US Non-Farm Payrolls Data
Source: Glassnode

Similarly, the 30-day average of Bitcoin exchange volume has now dropped to the 365-day average showing a sharp drop in capital flows since the all-time high of $108K in December. The 7-day moving average of the mean funding rate, along with rates from the top three perpetual markets, remains below the neutral threshold of 0.01%.

This reflects a persistent lack of demand from aggressive buyers, even after the brief rally to $102,000. As of press time, BTC price is trading 1.28% up at $94,517 levels with a market cap of $1.87 trillion.

19000 BTC Options, 141,000 ETH Options to Expire Ahead Of Key US Non-Farm Payrolls Data
Source: Glassnode

141,000 ETH Options Expiring Today

A total of 141,000 Ethereum (ETH) options expired today, carrying a notional value of $460 million. The contracts closed with a Put/Call ratio of 0.48, signaling a bullish skew in market sentiment. The Max Pain point for the expiration was recorded at $3,450, highlighting a key price level for traders and market makers.

Source: Deribit

Along with Bitcoin, the Ethereum price faced strong selling pressure and is trying to establish support at $3,300. According to the recent analysis from Glassnode, Ethereum (ETH) futures open interest (OI) is following a pattern similar to Bitcoin (BTC).

The mid-term trendline for ETH futures OI peaked in mid-December before experiencing a decline. However, the short-term trendline has since rebounded, indicating that traders are reopening positions after an initial reduction. Additionally, the Ethereum whale buying can provide further support to the upside.

US Nonfarm Payrolls Data Release Today

On Friday, the Bureau of Labor Statistics (BLS) will publish the much-awaited US Nonfarm Payrolls (NFP) data for December 2024. This jobs report will be critical in deciding the next direction of US Dollar giving some insights into future rate cuts by the Fed.

Economists predict the December Nonfarm Payrolls report to reveal an addition of 160,000 jobs to the U.S. economy. Furthermore, the unemployment rate is likely to stay at 4.2%. Amid stick inflation, the Fed has already hinted that they would move slowly with interest rate cuts this year. While reviewing the December employment situation, analysts at TD Securities said:

“We expect payroll growth to cool down closer to trend in December following the October-November gyrations that were triggered by one-off shocks. The UE rate likely stabilized at 4.2% despite our expectation for a meaningful rebound in the household survey’s employment series. Separately, we look for wage growth to mean-revert to 0.1% m/m following a string of hot monthly prints”.

Also, the dollar index (DXY) remained above the 109 level while US 10-year Treasury yields hovered around 4.7%, reflecting the Federal Reserve’s hawkish shift.

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Bitcoin Price To Recover With Global M2 Money Supply Soon: Wall Street Analyst https://coinpress.live/bitcoin-price-to-recover-with-global-m2-money-supply-soon-wall-street-analyst/ Fri, 10 Jan 2025 06:12:10 +0000 https://coinpress.live/?p=232827 Bitcoin price has recovered above $94,000 levels after making a fresh low of $91,380 earlier today as selling pressure on the world’s largest cryptocurrency fades slightly. Veteran Wall Street investor Raoul Pal expects the Global M2 Money supply to expand once again, triggering a strong recovery in BTC from here onwards. Will Bitcoin Price Follow

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Bitcoin price has recovered above $94,000 levels after making a fresh low of $91,380 earlier today as selling pressure on the world’s largest cryptocurrency fades slightly. Veteran Wall Street investor Raoul Pal expects the Global M2 Money supply to expand once again, triggering a strong recovery in BTC from here onwards.

Will Bitcoin Price Follow Global M2 Expansion Similar to 2016-17?

The Global M2 money supply has been falling in the last two years, which led to discussions that Bitcoin doesn’t have enough liquidity support for the price rally to continue.

Founder of Global Macro Investor and Wall Street veteran Raoul Pal said investors should not panic from the recent market movements. The global money is exactly similar to the 2016-17 charts and could probably witness a strong expansion moving ahead, he added.

Source: Raoul Pal

However, the major concern among investors is that while the global money supply has shrunk in the last 2 years, Bitcoin price hasn’t retraced enough to stage a trend reversal. For several years, BTC has been closely following the M2 supply. Thus, if it repeats this pattern, we might see a drop to $70,000 before resuming the uptrend. Several market analysts are already stressing this possibility considering macro headwinds ahead.

Source: Raoul Pal

BTC Follows 2016 Pattern

However, Pal counters this fear rhetoric by showing that Bitcoin price is showing an exactly similar move to that in 2016. Sharing a chart of the current BTC movement and the 2016 pattern, Pal wrote:

“It’s all going to be just fine. Maybe a bit lower or maybe it’s done already. Either way, higher over time. Don’t expect an exact repeat but a rhyme. Valhalla waits. Don’t Fuck This Up”.

Source: Raoul Pal

Bitcoin Will Be Gold on Steroids

Chris Kuiper, the Director of Research at Fidelity Digital Assets, recently noted that the US economy could see a stagflation-like condition similar to the 1970s. The report draws parallels between the current economic environment and 1977, predicting a surge in inflation over the next three years.

However, Kuiper believes that Bitcoin can play a crucial role in this scenario while acting as “gold on steroids”. As per historical data, Gold and CPI experienced significant spikes in the three years following January 1977. The Fidelity report that this time we could see a Bitcoin price surge repeating this pattern.

Bitcoin Price Recovery Along With Global M2 Money Supply To Follow Soon
Source: Fidelity

Bitcoin Price Volatility Ahead?

With the US Consumer Price Index (CPI) data due on January 15 next week, investors are bracing for BTC price volatility ahead. With Bitcoin already correcting more than 15% from its all-time high levels, it is currently trading at a crucial support level. Speaking on the current price action, popular crypto analyst Rekt Capital noted:

“Bitcoin has dwindled to pretty much the very bottom of its $91000-$101165 range. Needs to hold the $91k Range Low as support (blue) to avoid further downside and actually deepening this multi-week corrective period”.

Source: Rekt Capital

As analysts predict a BTC price recovery ahead, the Bitcoin open interest shows a decline in the speculative momentum. “The mid-term trendline (30-day SMA) peaked and is now slightly declining, while the short-term trendline (7-day SMA) has fallen below it. This indicates that traders have been closing positions, in response to uncertain market conditions,” noted Glassnode.

Bitcoin Price Recovery Along With Global M2 Money Supply To Follow Soon
Source: Glassnode

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US Bitcoin Reserve in Q1 2025? Crypto Industry Lobbies Amid Selloff News https://coinpress.live/us-bitcoin-reserve-in-q1-2025-crypto-industry-lobbies-amid-selloff-news/ Thu, 09 Jan 2025 11:48:05 +0000 https://coinpress.live/?p=232723 The crypto industry has already started lobbying behind President-elect Donald Trump to approve a US Bitcoin reserve as soon as he takes office on January 20. As per the previous reports, Trump is willing to issue several executive orders starting from the first day, and the crypto industry leaders are pursuing key crypto orders as

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The crypto industry has already started lobbying behind President-elect Donald Trump to approve a US Bitcoin reserve as soon as he takes office on January 20. As per the previous reports, Trump is willing to issue several executive orders starting from the first day, and the crypto industry leaders are pursuing key crypto orders as well.

US Bitcoin Reserve Approval Soon Under Donald Trump?

On the heels of Donald Trump’s inauguration, the crypto industry is urging the new administration to deliver on campaign promises to establish a pro-crypto regulatory environment. The industry is already having high hopes from Trump who pledged to be a “crypto President”.

Sources familiar with the matter stated that the key promises include a federally-backed US Bitcoin reserve, ensuring crypto companies have access to banking services, and forming a dedicated crypto council, reported Reuters.

Insiders say the industry is pressing for these executive orders to be issued within Trump’s first 100 days in office, with expectations that at least one directive could be announced as early as January 20.

Analysts remain curious as to whether the President-elect will use executive orders, through the Treasury Department, to establish a federal Bitcoin reserve or if such a move would require Congressional approval.

Bitcoin Policy Institute Submits Draft Proposal

Crypto industry advocacy group the Bitcoin Policy Institute has submitted a draft proposal explaining how the reserve could be created. The draft talks of building a strategic Bitcoin reserve asset and mandates the Treasury Secretary to allocate $21 billion over a year to build a national Bitcoin stockpile.

Zack Shapiro, head of policy at the Bitcoin Policy Institute, emphasized the importance of the United States taking the lead in monetizing Bitcoin even before its geopolitical rivals. “The U.S. should act now, rather than risk the price skyrocketing without holding any reserves,” he added. Other countries like Bitcoin-friendly Bhutan, Hong Kong, Germany, and Czech Republic are already working in that direction.

The current Biden administration is acting completely opposite. Reports of the US government selling Bitcoins worth $6.7 billion, obtained through the Silk Road route, have gained traction recently leaving negative market sentiment.

What to Expect With Crypto Policy Changes?

Earlier in July, Donald Trump said that he would end Operation Choke Point unleashed by traditional banks on crypto firms. An executive order instructing bank regulators to adopt a more lenient approach toward crypto could signal the administration’s stance and offer political cover to agency officials.

However, some executives cautioned that it would likely lack legal authority, as federal bank regulators operate independently. Jonah Crane, partner at financial firm Klaros Group said:

“(They) are not going to change policy on the ground on day one. But they will tell you what direction this administration wants to head.”

However, Trump transition team head Brian Hughes said that they are working actively to address concerns of the crypto industry. “There has been an effort in the Washington bureaucratic swamp to stifle innovation… but President Trump will deliver on his promise to encourage American leadership in crypto,” he said.

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US CFTC Issues Subpoena to Coinbase In Polymarket Case, What’s Happening? https://coinpress.live/us-cftc-issues-subpoena-to-coinbase-in-polymarket-case-whats-happening/ Thu, 09 Jan 2025 08:57:20 +0000 https://coinpress.live/?p=232658 The U.S. Commodity Futures Trading Commission (CFTC) has issued a fresh subpoena to crypto exchange Coinbase just days ahead of President Joe Biden leaving office. This comes as part of the US CFTC’s ongoing investigation into betting markets Polymarket thereby requiring Coinbase to provide specific information regarding customers involved in the case. US CFTC Seeks

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The U.S. Commodity Futures Trading Commission (CFTC) has issued a fresh subpoena to crypto exchange Coinbase just days ahead of President Joe Biden leaving office. This comes as part of the US CFTC’s ongoing investigation into betting markets Polymarket thereby requiring Coinbase to provide specific information regarding customers involved in the case.

US CFTC Seeks Coinbase Customers

Under the outgoing Biden administration, the CFTC has cracked a whip issuing a subpoena to crypto exchange Coinbase in the Polymarket lawsuit.

After receiving an email for the same from the exchange, Eric, co-author of Ethereum’s EIP-1559, shared this information in the public domain. “The dems crypto pivot truly was something else!” he wrote.

The exchange informed its customers through email that it may be required to share account-related information with the US CFTC. However, the company noted that no action is required from customers at this time.

Crypto Exchange Need to Comply Soon

The action comes with a deadline, unless Coinbase receives a motion to dismiss or other legal documentation by the close of business on January 15, 2025, the company will be required to comply.

The announcement comes just ahead of the CFTC chair Rostin Behnam stepping down before President-elect Donald Trump takes oath on January 20. The Trump transition team has reviewed at least six potential candidates to lead the US CFTC, aligning with the president-elect’s pledge to establish a more crypto-friendly regulatory framework.

Polymarket And Its Regulatory Scrutiny

Polymarket, a decentralized prediction market platform, gained huge popularity during the US Presidential Elections in 2024 drawing attention from regulators like the US CFTC. The regulator demanded limiting the operation of the prediction market while labeling them as gambling platforms.

Unlike the promises by Vice President Kamala Harris of a crypto pivot, the Democrats have continued with the crypto crackdown even in their last days in office. Coinbase and the CFTC have yet to comment publicly on the matter, but the subpoena marks another pivotal moment in the intersection of U.S. regulatory oversight and the cryptocurrency industry.

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Breaking: US Govt Sells $6.7 Billion in Bitcoin, Will BTC Price Crash Soon? https://coinpress.live/us-govt-sells-bitcoin-will-btc-price-crash-soon/ Thu, 09 Jan 2025 05:47:02 +0000 https://coinpress.live/?p=232651 The US govt has dumped a massive 69,370 Bitcoins, worth a massive $6.7 billion, seized from the popular darknet marketplace Silk Road. This comes as the US Department of Justice (DoJ) approved clearing the prolonged dispute of BTC claims by Battle Born Investments. This has led investors to question whether another BTC price crash under

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The US govt has dumped a massive 69,370 Bitcoins, worth a massive $6.7 billion, seized from the popular darknet marketplace Silk Road. This comes as the US Department of Justice (DoJ) approved clearing the prolonged dispute of BTC claims by Battle Born Investments. This has led investors to question whether another BTC price crash under $90,000 is coming soon as the asset took a dip under $93,000 earlier today.

US Govt Liquidates Silk Road Bitcoin on US DoJ Authorization

As reported earlier by DB News, the US DOJ approved the government to sell 69,370 Bitcoins seized from the Silk Road darknet. DOJ cited Bitcoin price volatility as the reason for allowing the US govt to liquidate the assets.

Hours after the reports, the balance in the US government wallet dropped to zero, from $6.7 billion on January 8, as per the data by Arkham Intelligence,

Source: Arkham Intelligence

Interestingly, the selloff comes just 10 days before Donald Trump took office at the White House on January 20. While the Trump team has been thinking about building strategic Bitcoin reserve, the Biden govt has made a hasty decision to liquidate Bitcoin.

DOJ cleared sell $6.5 billion bitcoin
Source: DB News

Interestingly, this decision from the federal judge comes soon after the new administration took charge of the office two weeks ago. The ruling, made on December 30, comes after the resolution of a prolonged ownership dispute with Battle Born Investments. The investment firm failed to get the ownership of BTC through a bankruptcy estate.

Battle Born’s legal team has strongly criticized the decision, with their attorney characterizing it as “another egregious example of the DOJ’s abuse of the Civil Asset Forfeiture process.” They argue that the government employed “procedural trickery to make sure the facts are never heard.”

BTC Price Correction Under $90,000 Soon?

Following the rejection at the $100K level, the Bitcoin price is seeing strong selling pressure wiping off all the weekly gains. As of press time, the BTC price is trading 2.47% down at $93,915.9 with a market cap of $1.86 trillion.

Furthermore, the BTC price is showing no strength in the derivatives market as the Bitcoin funding rates have dropped considerably. CryptoQuant analyst ShayanBTC noted:

“In the recent Bitcoin rally, Funding Rates showed a sharp increase midway through the upward trend, suggesting a delayed influx of demand. However, after Bitcoin faced rejection at the $108K resistance, Funding Rates declined significantly”.

On the other hand, short-term traders are moving to exchanges at a loss in what seems to be a panic selling ahead. As per the on-chain data, short-term holders have moved 23,200 to exchange recently at a loss.

Top Leaders Continue to Remain Optimistic

However, popular leaders like Robert Kiyosaki stay bullish about BTC. He wrote:

“BITCOIN crashing. Great news. I continue buying Bitcoin because Bitcoin crashing means Bitcoin is on sale. Remember “Buy low….and HODL.” Less than 2 million more Bitcoins to be mined”.

The month of January following the halving year has always been volatile for Bitcoin, historically. On the other hand, former BitMEX CEO Arthur Hayes predicts a $612 billion liquidity infusion in Q1 2025 which will take Bitcoin to new highs.

El Salvador President Nayib Bukele hinted at adding more Bitcoins to its portfolio as US govt sold. He said, “Maybe we’ll all get the chance to buy Bitcoin at a discount!”

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Cathie Wood’s Ark Invest Sells Coinbase (COIN) Stock Amid Insiders Sales Red Flag https://coinpress.live/news/stocks/cathie-woods-ark-invest-sells-coinbase-coin-stock-amid-insiders-sales-red-flag/ Tue, 07 Jan 2025 09:19:02 +0000 https://coinpress.live/news/stocks// Cathie Wood’s asset management firm Ark Invest did a major reshuffling to its portfolio on Monday, selling 3769 Coinbase (COIN) shares from its portfolio. The recent sell-off comes as the Coinbase stock shows signs of bounceback while gaining 11.2% on the weekly chart. Amid a strong recovery on Wall Street, the COIN stock gained 6.32%

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Cathie Wood’s asset management firm Ark Invest did a major reshuffling to its portfolio on Monday, selling 3769 Coinbase (COIN) shares from its portfolio. The recent sell-off comes as the Coinbase stock shows signs of bounceback while gaining 11.2% on the weekly chart. Amid a strong recovery on Wall Street, the COIN stock gained 6.32% ending the trading session at $287.

Cathie Wood’s Ark Invest Dumps Coinbase Stock

On Monday, the Ark Fintech Innovation ETF (NYSEARCA: ARKF) sold a total of 3769 Coinbase stock worth $1.08 million from its total holdings. This quantity of COIN stock sold contributed only a 0.1% drop in the portfolio holdings and comes as part of periodic adjustments.

Last September, Ark Invest loaded Coinbase shares in big quantities just ahead of the mega rally in the COIN stock. Back then the share price was trading at just $150. However, since then the share price has appreciated by a massive 91% with Ark generating massive ROI within just four months of its investments.

Ark Investments is an early investor in Coinbase and continues to hold a large amount of COIN stocks even today. The Ark Fintech Innovation ETF (ARKF) that holds the Coinbase stock has delivered massive returns of 50% over the past year, along with investments in Shopify and Block Inc.

Under the leadership of Cathie Wood, the asset manager is likely to pursue more such investments. With Donald Trump taking the office at White House this month, Wood is even more optimistic about the US economy in the coming years.

Cathie Wood of Ark Invest highlighted that a restructuring of the U.S. SEC under Trump’s administration could significantly boost American innovation. She noted that new leadership at the SEC and FTC could pave the way for a transformative era of technological advancement in the U.S.

COIN Share Price Expectation for 2025

Amid the broader crypto market rally in 2024, Coinbase stock price has appreciated by a strong 80% over the past year. Market analysts expect this rally to continue further from here this year into 2025. On Monday, the Coinbase share price gained 6.32% ending the trading session at $287.

As the crypto exchange is preparing to release its Q4 earnings report, analysts have raised price targets for the same. As per analysts, the COIN stock can hit $400 ahead of its earnings report, which is another 37% upside from here. Favorable regulatory environment and crypto market euphoria under Donald Trump could serve as a catalyst for this.

Coinbase Insiders Are Selling the Stock

Apart from Ark Invest, there has also been more selling coming from Coinbase insiders in recent weeks. Last week on January 2nd, Coinbase CTO Paul Grewal offloaded 10,000 shares from his holdings netting more $2.57 million. As a result of this transaction, his stake in the company decreased by 12.59%, leaving him with 69,407 shares valued at approximately $17.82 million. Paul Grewal has been offloading his COIN stock holdings over the past few months.

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Arthur Hayes Predicts Bitcoin and Crypto Market Peak by March, Followed by Crash https://coinpress.live/bitcoin-crypto-market-to-peak-by-march-followed-by-crash-predicts-arthur-hayes/ Tue, 07 Jan 2025 06:23:37 +0000 https://coinpress.live/?p=232287 BitMEX co-founder Arthur Hayes forecasts that Bitcoin and the crypto market will reach their peak before mid-2025, followed by a significant correction. His prediction hinges on the U.S. dollar liquidity dynamics expected to unfold in Q1 2025 as Donald Trump assumes office on January 20. Bitcoin and Crypto Market In Early 2025 BitMEX co-founder Arthur

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BitMEX co-founder Arthur Hayes forecasts that Bitcoin and the crypto market will reach their peak before mid-2025, followed by a significant correction. His prediction hinges on the U.S. dollar liquidity dynamics expected to unfold in Q1 2025 as Donald Trump assumes office on January 20.

Bitcoin and Crypto Market In Early 2025

BitMEX co-founder Arthur Hayes expects a crypto market rally will last until Q1 2025, as per a new blog on January 7. He cites a pro-business environment and pro-crypto policies as Donald Trump takes charge, which will continue to drive Bitcoin and other crypto assets higher. However, he also warned about a potential crash ahead for the market once it hits its peak in around March.

Notably, he stresses that the US Dollar liquidity will continue to drive optimism in crypto. Hayes believes that recent policy shifts, particularly from the U.S. Federal Reserve and the Treasury Department, will influence Bitcoin price trajectory.

Similar to the peak of the Fed’s Reverse Repo Facility (RRP) in Q3 2022, global liquidity saw a surge. Also, BTC found its bottom and reversed its trajectory since then. Hayes predicts that the Fed will continue its quantitative tightening (QT) at a pace of $60 billion per month until mid-2025. This will reduce liquidity in the financial system. This, along with the recent decision to adjust RRP rates, will likely cause liquidity levels to fall sharply in the first quarter of 2025.

Source: Arthur Hayes

However, it won’t be a matter of major concern says Hayes as he believes that other sources of liquidity will offset this concern. He added that the U.S. Treasury through its General Treasury Account (TGA) would inject liquidity into the market by spending funds rather than issuing debt, especially if the debt ceiling is raised in time.

Bitcoin, Crypto Market to Peak by March 2025 Followed By Crash, Predicts Arthur Hayes
Source: MaelStorm

Hayes predicts a net injection of $612 billion in US Dollar liquidity by the end of March 2025. If this happens, it will provide a significant boost to Bitcoin as well as the broader crypto market. He said that it will be interesting to see whether Trump’s political clout will allow for a timely resolution of the debt ceiling situation.

If the Treasury successfully navigates the debt ceiling issue and injects liquidity into the market, it could propel crypto assets, including Bitcoin, through the first quarter of 2025. Hayes recommends that investors remain bullish on the crypto market, suggesting the first quarter could offer a significant upside.

A Corrective Phase After Q1 2025

As per Arthur Hayes, the bullish phase may not last after Q1 2025 as liquidity conditions tighten and the Trump pump buzz fades away. Thus, he expects the market to enter a corrective phase after the first quarter. With both fiscal and monetary support waning, Bitcoin and the entire crypto market could face significant pullbacks, he said.

Additionally, tax season — with payments due in mid-April — will further deplete the TGA and create a liquidity squeeze. This might further dampen the investment sentiment, per Hayes. Arthur Hayes anticipates that this correction may manifest as a pullback similar to the one BTC experienced in mid-2024, following its local highs earlier in the year.

“In 2024, Bitcoin hit a local high of ~$73,000 in mid-March, then traded sideways, and began its multi-month decline on April 11th right before the 15th tax payment deadline.”

As Hayes remains optimistic for Q1 2025, he announced that his firm Maelstorm plans to shift into “DEGEN mode,” opting to invest in emerging decentralized science (DeSci) projects. His portfolio includes tokens such as BIO, VITA, ATH, GROW, PSY, CRYO, and NEURON.

The Bitcoin price is showing strength currently extending its weekly gains to more than 10% and is currently trading past $102,000. Amid this recent surge, the 24-hour total liquidation has shot up to $58 million of which $47 million is in short liquidation, per the Coinglass data. Also, the open interest is up by 4% highlighting optimism among futures traders.

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Ethereum Creator Vitalik Buterin Dumps ESTEE Meme Coin After 440% Rally https://coinpress.live/ethereum-creator-vitalik-buterin-dumps-estee-meme-coin-after-440-rally/ Mon, 06 Jan 2025 13:00:27 +0000 https://coinpress.live/?p=232191 Ethereum founder Vitalik Buterin has been once again on a meme coin-dumping spree recently offloading a few dog-themed meme coins like ESTEE, LDOG, etc. The recent dump comes after ESTEE price rallied 440% from its intraday low in a massive investor buying. Vitalik Buterin Offloads 50 Billion ESTEE As Price Surges As per the data

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Ethereum founder Vitalik Buterin has been once again on a meme coin-dumping spree recently offloading a few dog-themed meme coins like ESTEE, LDOG, etc. The recent dump comes after ESTEE price rallied 440% from its intraday low in a massive investor buying.

Vitalik Buterin Offloads 50 Billion ESTEE As Price Surges

As per the data from blockchain analytics platform Nansen, Ethereum co-founder Vitalik Buterin has reportedly sold 50.54 billion ESTEE meme coins, netting 116,306 USDC stablecoin in the process. The transaction took place through his known address, 0xab58…9aec9b.

ESTEE is a dog-themed meme coin particularly inspired by Shiba Inu (SHIB). Another meme coin VICKY, called ESTEE’s daughter, is also seeing strong trading activity.

While the ESTEE price saw some dip after selling by Vitalik Buterin, it has quickly recovered rallying all the way to $0.00001903 taking the daily gains to more than 200%, and a nearly 8x surge from its intraday bottom of $0.0000023. Additionally, the daily trading volume has surged by a massive 9141% all the way to $3.16 million.

Source: OnChain Lens on X

Dumping Other Meme Coins

Apart from ESTEE, Vitalik Buterin also offloaded other meme coins from his wallet in the last 24 hours. Buterin offloaded 340 LDOG tokens in exchange for 5.2 ETH approximately 13 hours prior to the ESTEE transaction. Additionally, he also sold over 10 trillion DINU coins for 4181 USDC. The sales have sparked discussions within the crypto community about Buterin’s portfolio adjustments and their potential market impact.

The Ethereum creator has continued to receive coins from different crypto projects as a gift. As a result, he has also been offloading meme coin holdings and donating the proceeds from it periodically. Thus, the current selling from Buterin is nothing new and very much part of the routine.

Last week, embraced a new role as the foster parent of Moo Deng, a baby pygmy hippopotamus. According to a statement from Khao Kheow Open Zoo on Thursday, Vitalik Buterin has joined their Wildlife Sponsorship Program, officially adopting the famous young hippo. This announcement was enough to send the meme coin MOODENG soaring higher by 70% in a day.

In his latest blog post, the Ethereum founder has also made suggestions on halting access to computational resources to “buy more time for humanity” amid the growing threats of AI superintelligence. He recommends donating these meme coins for charity.

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Is Bitcoin Price Correction Behind Us Finally? https://coinpress.live/is-bitcoin-price-correction-behind-us-finally/ Mon, 06 Jan 2025 08:54:16 +0000 https://coinpress.live/?p=232168 Bitcoin price is once again showing strength as it bounced back almost 2% eyeing a move past $100K levels very soon. With more than 6% weekly gains, analysts predict that the BTC correction could finally be behind us. Moreover, investors can expect greater volatility moving ahead with Donald Trump swearing in just 15 days from

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Bitcoin price is once again showing strength as it bounced back almost 2% eyeing a move past $100K levels very soon. With more than 6% weekly gains, analysts predict that the BTC correction could finally be behind us. Moreover, investors can expect greater volatility moving ahead with Donald Trump swearing in just 15 days from now. Other macro factors like the US CPI release and FOMC could play a key role in driving volatility.

Where Is Bitcoin Price Moving Next?

Starting Monday, Bitcoin is entering week 10 of its price discovery phase with analysts closely monitoring the market’s ability to confirm the end of the corrective phase. As per Rekt Capital, BTC has effectively navigated the challenging Week 7 and Week 8 with only a modest -15% pullback, which is much less than the 30% decline seen during a similar phase in 2017.

The analyst added that the weekly BTC close above the blue support zone around $97,907 could probably market the end of the downtrend. However, to confirm the uptrend, Bitcoin price must give a close $100,970 level, as shown in the below image. In a message on the X platform, the analyst noted:

“Bitcoin is now back at the previously lost support area that is the blue Order Block ($97k-$98k). If Bitcoin Weekly Closes inside this blue area, there’ll be a good chance of reclaiming that previously lost support into support once again”.

Source: Rekt Capital

Will BTC Break Past $100K Soon?

Bitcoin price closing above $100K is essential to confirm the uptrend for new highs in 2025. Some market analysts believe that this won’t be a linear path and could come with some volatility ahead. Popular crypto analyst Benjamin Cowen stated:

“BTC still looking similar to what it did exactly one year ago. Basically it first spiked up in early January, then down in late January, before picking back up more durably in February”.

Source: Benjamin Cowen

Similarly, 10x Research Founder Markus Thielen hinted at a positive start in early January but added that it could soon meet pullback ahead of the CPI inflation data release on January 15. The analyst believes that Bitcoin price can rally again by Donald Trump’s inauguration and then see a correction again by the FOMC meeting. In the 10x Research report, Thielen wrote:

“A favorable inflation print could reignite optimism, fueling a rally into the Trump inauguration. However, this momentum may wane, with the market likely retreating somewhat ahead of the FOMC meeting on January 29”.

Source: 10x Research

As of press time, the BTC price is trading 1.12% up at $99,790. As per the Coinglass data, the open interest is up just 2.7% to $57.84 billion which shows that derivatives market interest and futures interest are still not much. Also, the 24-hour liquidations have shot up to $25.5 million.

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Metaplanet Stock Shoots 5% As CEO Plans to 5x Bitcoin Holdings in 2025 https://coinpress.live/news/stocks/metaplanet-stock-shoots-5-as-ceo-plans-to-5x-bitcoin-holdings-in-2025/ Mon, 06 Jan 2025 05:58:47 +0000 https://coinpress.live/news/stocks// Metaplanet stock is making strong moves today on the Tokyo Stock Exchange as its CEO Simon Gerovich disclosed plans to 5x their Bitcoin holdings in 2025. This is a bold move from Japan’s MicroStrategy which started accumulating BTC in May 2024 and already holds over 1,761 BTC on its balance sheet. As a result, the

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Metaplanet stock is making strong moves today on the Tokyo Stock Exchange as its CEO Simon Gerovich disclosed plans to 5x their Bitcoin holdings in 2025. This is a bold move from Japan’s MicroStrategy which started accumulating BTC in May 2024 and already holds over 1,761 BTC on its balance sheet. As a result, the stock price has also skyrocketed more than 2000% on the yearly chart and is currently trading around 3,600 JPY levels.

Metaplanet CEO Outlines Ambitious Goals for 2025

Metaplanet CEO Simon Gerovich has outlined an ambitious goal for this year 2025, looking to take the company’s Bitcoin holdings to more than 10,000 BTC. This would increase its BTC holdings by 5.6x from the current levels. In order to achieve this milestone, the company would be using advanced capital market tools and might follow the MicroStrategy blueprint of fundraising through a mix of debt and equity.

Furthermore, Metaplanet CEO stated that the firm will continue to seek innovative opportunities to amplify its impact within Japan as well as the broader Bitcoin ecosystem. In his message on the X platform, Gerovich wrote:

“Your belief in our vision fuels our commitment to excellence. Together, we’re not just building a company but driving a movement. Stay tuned—2025 is going to be another monumental year. Here’s to a year of progress, innovation, and success”.

Furthermore, the Japanese firm is planning to roll out new initiatives to boost transparency and increase shareholder engagement. Leveraging strategic partnerships, the firm aims to promote Bitcoin adoption both in Japan and on a global scale, added Gerovich.

Following Footsteps of MicroStrategy

Metaplanet has successfully adopted MicroStrategy’s Bitcoin strategy of accumulating more BTC as part of the company’s reserves and increasing shareholder value.

As a result, the Metaplanet stock surged 2000% over the past year. Earlier today, the stock gained another 5% shooting past 3640 JPY following the revelation of 2025’s ambitious plan.

With its massive Bitcoin buying in 2024, MicroStrategy’s MSTR stock price outperformed Bitcoin gains by nearly 3x hitting an all-time high of $473 in November. However, it has retraced significantly since then and is currently trading at $330. Market analysts predict that the MicroStrategy stock rally can continue moving into 2025 surging all the way to $500.

Besides, Metaplanet’s Simon Gerovich is also betting big on the United States’ official announcement of a Bitcoin reserve plan after Donald Trump takes charge. He wrote:

“The U.S. adopting a Bitcoin Strategic Reserve could trigger a global domino effect. As game theory kicks in, nation-states will race to accumulate Bitcoin, knowing the last to act will pay the highest price. Fixed supply. Infinite demand”.

Following the cues, other countries like Hong Kong and Germany are also exploring Bitcoin reserve options to deal with global economic uncertainties.

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SUI Price Hits ATH Eyeing Rally to $10, Key Factors to Watch https://coinpress.live/sui-price-hits-ath-eyeing-rally-to-10-key-factors-to-watch/ Sat, 04 Jan 2025 14:56:00 +0000 https://coinpress.live/?p=232087 Layer-1 blockchain network Sui is gathering major limelight, with SUI price hitting a fresh all-time high above $5, surging 20%. The massive 180% surge in daily trading volumes to $2.3 billion hints that the strong bullish momentum is likely to continue in 2025, with analysts predicting $10 and more. SUI Price Eyes Rally to $10

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Layer-1 blockchain network Sui is gathering major limelight, with SUI price hitting a fresh all-time high above $5, surging 20%. The massive 180% surge in daily trading volumes to $2.3 billion hints that the strong bullish momentum is likely to continue in 2025, with analysts predicting $10 and more.

SUI Price Eyes Rally to $10 As TVL Reaches $4 Billion

SUI is one of the top-performing altcoins today, surging by a massive 20% and hitting an all-time high of $5.15. As a result, the altcoin has grabbed the 12th rank with a market cap of $15.5 billion overtaking the likes of Chainlink (LINK) and Toncoin (TON). If the SUI price rally continues further, the crypto could soon break into the top ten cryptocurrencies by market cap. Also, the massive surge in SUI trading volumes hints at solid demand for the altcoin.

Source: 10x Research

The 10x surge in SUI price from the lows of $0.55 in August 2024 is nothing short of phenomenal, with several factors contributing to this surge. As per the data from DeFiLlama, the total value locked (TVL) on the Sui blockchain has reached $3.84 billion. Achieving this milestone in a very short time period shows strong user adoption and trust in the platform.

Another reason behind this massive SUI price surge is that the Layer-1 blockchain remains committed to delivering a user-friendly blockchain experience designed to rival the accessibility of mainstream internet services.

The platform has sparked notable market excitement fueled by its technological potential. Furthermore, there have been debates comparing SUI to Solana, with many highlighting areas where SUI might hold an edge.

Key Advancements and Partnerships

The Sui blockchain has introduced groundbreaking innovations such as the Mysticeti consensus engine and the Narwhal-Bullshark-Tusk mechanism. They help in boosting transaction speeds while significantly reducing latency.

Such advancements make Sui a preferred choice for high throughput applications in decentralized finance (DeFi) and gaming. Furthermore, its ability to process transactions in parallel also gives Sui a competitive edge over other blockchains.

On the other hand, the platform has leveraged strategic partnerships to drive future growth. This includes collaboration with Circle for USDC stablecoin integration to boost liquidity and adoption. On the other hand, ecosystem developments such as Sui Play for gaming and the Sui Bridge for cross-chain interoperability have expanded the platform’s utility, leading to the SUI price rally.

DeepBook (DEEP) – A Sui Protocol to Watch for Mega Returns

While the SUI price rallied by 20% today, the DeepBook protocol running on the Sui blockchain saw a remarkable rally of 30%, with its market cap crossing $432 million. As per the reports from 10X Research, DeepBook (DEEP) could be among the top altcoins for 2025. With the altcoin market cap expected to hit $7 trillion in 2025, DEEP could have its own share of the pie in this.

DEEP, the native token of DeepBook, is an advanced liquidity layer built on the Sui blockchain. It integrates the functionality of a Central Limit Order Book (CLOB) with decentralized finance (DeFi) features, offering a scalable and flexible trading infrastructure.

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Why Litecoin Price Will Rally to $500 By Mid-2025? https://coinpress.live/litecoin-price-gearing-for-5x-rally-by-mid-2025-heres-why/ Sat, 04 Jan 2025 09:17:18 +0000 https://coinpress.live/?p=232008 Litecoin price has rallied 7% today shooting past $110 level and setting up the stage for a mega rally to $500 in the next six months. Technical chart patterns for LTC suggest bullish price action ahead supported by strong network activity. Furthermore, discussions around Litecoin ETF approval have gathered steam that can provide institutional liquidity

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Litecoin price has rallied 7% today shooting past $110 level and setting up the stage for a mega rally to $500 in the next six months. Technical chart patterns for LTC suggest bullish price action ahead supported by strong network activity. Furthermore, discussions around Litecoin ETF approval have gathered steam that can provide institutional liquidity moving ahead to the altcoin.

Litecoin Price Eyeing Mega Rally to $500

Reiterating his bullish stand, popular crypto analyst Crypto Patel stated that the Litecoin price could be staring at a target of $500. He said that a year back when LTC was trading in the $50-$60 range, investors were still skeptical, however, he continues to believe in the long-term potential of the altcoin.

“Many laughed when I shared these entries, but I’m still holding from $50-$60,” he stated. Patel has outlined interim targets at $296 and $387, with $500 as the ultimate milestone. As per the chart below, LTC could attain these milestones by mid-2025.

Source: Crypto Patel

The crypto has shown strong performance recently, gaining momentum amid broader market optimism, and analysts continue to watch for further price advances. A large part of the Litecoin price rally has come following Donald Trump’s election victory in November after which the altcoin market staged strong recovery. With analysts expecting the altcoin market cap to reach $7 trillion in 2025, LTC could be heading for massive gains as well.

LTC price today added 6.83% and traded at $111.82 with a market cap of $8.42 billion. Its daily trading volume jumped 12% to $683 million at the same time. As per Coinglass data, the Litecoin Futures Open Interest rose 12% to $477 million while 24 hour liquidation has shot up to $1.52 million.

Rising LTC Network Growth and User Engagement

The Litecoin price increase comes along with a strong boost in its network growth throughout 2024. In a major milestone, the LTC network saw 100% uptime for the first time since 2011.

Besides, Litecoin averaged 401,000 daily active addresses in 2024, reflecting an increase from 366,000 in 2023. Notably, the peak activity occurred in January, with 1.37 million active addresses recorded on a single day.

On the other hand, LTC is among the leading contenders for an exchange-traded fund (ETF) launch in 2025. Notably, Donald Trump’s election win and the incoming crypto-friendly SEC Chair’s appointment have fueled speculation over several other crypto ETFs launch in 2025. If approved, it could escalate institutional participation for the altcoin this year.

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US Bitcoin ETF Inflows Hit $900M As Fidelity Leads BlackRock, BTC Bottom In? https://coinpress.live/us-bitcoin-etf-inflows-hit-900m-as-fidelity-leads-blackrock-btc-bottom-in/ Sat, 04 Jan 2025 06:26:46 +0000 https://coinpress.live/?p=232001 After a weak start to 2025, US Bitcoin ETF inflows have bounced back strongly hitting $900 million on Friday. This time, it is Fidelity’s FBTC spot exchange-traded fund (ETF) that’s leading the charge scooping 3,640 BTC yesterday. Furthermore, BTC price is approaching $100K once again with on-chain indicators hinting at bottom formation. Moreover, the liquidation

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After a weak start to 2025, US Bitcoin ETF inflows have bounced back strongly hitting $900 million on Friday. This time, it is Fidelity’s FBTC spot exchange-traded fund (ETF) that’s leading the charge scooping 3,640 BTC yesterday. Furthermore, BTC price is approaching $100K once again with on-chain indicators hinting at bottom formation.

Moreover, the liquidation data shows traders and investors have a mixed outlook on Donald Trump’s inauguration day as both long and short liquidations are balanced. This uncertainty can also be observed in daily Bitcoin ETF flows.

US Bitcoin ETF Inflows Resume Again In Strong Reversal

After big outflows earlier this week, the US Bitcoin ETFs staged a strong reversal with nearly $900 million in inflows on Friday. As per Farside Investors data, Fidelity’s FBTC recorded the largest inflows yesterday among its peers at $357 million. After three consecutive days of outflows, BlackRock’s IBIT also saw a reversal with $252 million in inflows while Ark Invest’s ARKB saw $222 million.

Nate Geraci, President of the ETF Store, celebrated the strong reversal on Friday, after outflow from iShares Bitcoin Trust (IBIT) a day earlier. IBIT rebounded strongly by attracting over $250 million in fresh inflows today. BlackRock’s IBIT hit massive milestones this year with more than $37 million in inflows and $53 million in net assets under management.

Commenting on the overall ETF inflows, Geraci said: “That’s right… over $900 million. Just today,” adding that US  spot Bitcoin ETFs have now accumulated approximately $700 million in net inflows since the beginning of the year.

BTC On-Chain Metrics Show Strength

On-chain data shows strength for Bitcoin hinting that the bulls are willing to look past the current correction. Crypto analyst Ali Martinez has reported a significant outflow of Bitcoin from exchanges over the past week. According to Martinez, more than 48,000 BTC valued at over $4.5 billion have been withdrawn during this period.

Source: Ali Charts

The substantial outflow signals a potential shift in market sentiment, with investors opting for self-custody or preparing for long-term holding. Usually, these massive withdrawals happen just before the strong move to the upside.

The Coinbase Premium Index, a key indicator of institutional interest in Bitcoin, recently dropped to -0.23%, marking its lowest level in two years. However, the index has begun to rebound swiftly, signaling a resurgence in demand for Bitcoin among U.S.-based institutional investors. This narrative is further supported by inflows into US spot Bitcoin ETFs.

Source: Ali Charts

The Bitcoin community is now eagerly awaiting Donald Trump’s oath-taking ceremony on January 20. Traders believe that BTC can experience some volatility before the asset resumes its journey to $100K and beyond. “Rich Dad Poor Dad” author Robert Kiyosaki predicted Bitcoin price to hit $175K and $350K this year.

As of press time, BTC price is trading at 1.25% up near $98,000, with a trading volume down 13%. Per the Coinglass data, the 24-hour liquidation has soared to $53 million with more than $33 million in short liquidations.

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Marathon Digital Clocks 168% Bitcoin Hashrate Growth, Will MARA Stock Recover? https://coinpress.live/news/stocks/marathon-digital-clocks-168-bitcoin-hashrate-growth-will-mara-stock-recover/ Fri, 03 Jan 2025 08:33:32 +0000 https://coinpress.live/news/stocks// Bitcoin miner Marathon Digital attained a major milestone last year clocking an impressive 168% Bitcoin hashrate growth and expanding its position as an industry leader. This aligns with Donald Trump’s vision of making America the hub for BTC production. However, despite this growth, the MARA stock is down 17% on the year chart with investors

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Bitcoin miner Marathon Digital attained a major milestone last year clocking an impressive 168% Bitcoin hashrate growth and expanding its position as an industry leader. This aligns with Donald Trump’s vision of making America the hub for BTC production. However, despite this growth, the MARA stock is down 17% on the year chart with investors awaiting a strong recovery.

Marathon Digital Records High Bitcoin Hashrate Growth

Last year in 2024, MARA Pool, operated by Marathon Digital Holdings, recorded a massive 168% annual growth in BTC hashrate thereby consolidating its market position even further. This figure far exceeds the 49% growth of Bitcoin’s overall network during the same period, solidifying MARA Pool’s position as a leader in the mining sector.

As a result, the Bitcoin miner is contributing strongly to Donald Trump’s vision of boosting US influence in the global Bitcoin mining landscape. Last year was a turning point for America’s Bitcoin mining industry leaving behind the likes of top Asian players like Antpool.

Apart from Marathon Digital, the Foundry USA Pool witnessed significant growth while extending its lead over Antpool by a massive 100%. According to real-time Cloverpool data, Foundry’s hashrate surged from 157 EH/s in January 2024 to approximately 280 EH/s by December. On the other hand, Antpool’s hashrate rose modestly from 130 EH/s to 147 EH/s, falling behind Bitcoin’s overall network growth of 49%.

What’s Behind the MARA Stock Fall

While Marathon Digital has been expanding its market dominance, the MARA stock has underperformed market expectations. The stock ended the last year of 2024, 18% down.

This happened as the Bitcoin miner took a major hit in revenue following the Bitcoin halving event in March 2024, which reduced the mining rewards by 50%. The overall Bitcoin mining industry has been facing the heat of this.

Marathon Digital is projected to report a quarterly loss of $0.32 per share, reflecting a staggering year-over-year decline of 1,500%, according to the Zacks Consensus Estimate. For the full fiscal year, the consensus estimate anticipates an earnings loss of $0.29 per share, marking a year-over-year decrease of 270.6%

However, some market analysts believe that MARA would be a better bet than MicroStrategy (MSTR) moving into 2025. This is because the company has made strategic investments in expanding its Bitcoin mining operations while consolidating its market position.

Bitcoin Buying Spree Continues

Bitcoin miner MARA continued its BTC buying spree with nearly $1 billion in Bitcoin acquisitions last month in December. In his latest interview, Fred Thiel, the CEO of Marathon said that he is optimistic about 2025 and suggests investors invest a little bit in Bitcoin every month.

“We are very optimistic about this year. If the strategic Bitcoin reserves happen, lots of other countries will follow suit. Which means somebody has to acquire that Bitcoin from somewhere, because the little amount of Bitcoin that is mined every month, will not be enough. So, you’re going to see price increases there,” said Thiel.

While the MARA CEO refrained from specifying a target price for Bitcoin, he emphasized that the regulatory landscape suggests a bullish outlook for BTC. Thiel highlighted the potential scarcity of Bitcoin supply in the current market, noting that rising demand could significantly boost prices in 2025.

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Cardano (ADA) Price Eyes 300% Rally In Few Weeks Per This Chart https://coinpress.live/cardano-ada-price-gears-up-300-rally-few-weeks-per-this-chart/ Fri, 03 Jan 2025 05:54:45 +0000 https://coinpress.live/?p=231843 Cardano price has shot up by 8% in the last 24 hours surging past $1.0 while extending its weekly rally to more than 16%. The current technical setup for ADa mirrors that before the 2021 bull rally suggesting that a 300% rally to $4 could be in the making. Here’s Why Cardano Price Can Rally

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Cardano price has shot up by 8% in the last 24 hours surging past $1.0 while extending its weekly rally to more than 16%. The current technical setup for ADa mirrors that before the 2021 bull rally suggesting that a 300% rally to $4 could be in the making.

Here’s Why Cardano Price Can Rally to $4

Amid the broader market recovery, Cardano is showing greater strength in comparison to its peers with a remarkable gain among the other top altcoins. Crypto analyst Ali Martinez draws parallels between the current Cardano price action and its performance in the previous market cycle between November 2020 and August 2021, when ADA experienced a mega bull rally.

Considering a similar breakout ahead, Martinez believes that ADA price could surge all the way to $4 in the coming weeks.

Source: Ali Martinez

Following Donald Trump’s victory, the crypto staged a 3x rally in a month’s time amid strong euphoria in the broader altcoin market. Market analysts believe that the altcoin market cap can be nearly 5x in 2025 reaching all the way to $7 trillion. Thus, this 300% rally won’t come as a surprise in that case.

ADA price today was up 8.07% at $1.01 with a market cap of $35.63 billion. Also, the daily trading volume has surged by 5% to $1.26 highlighting the chances of a sustained rally moving ahead. As per the Coinglass data, the ADA open interest is also up 7% and is currently at $781 million. Also, amid the Cardano price surge, the 24-hour liquidations have soared to $2.38 million with $1.56 million in short liquidations.

Charles Hoskinson Stays Bullish for ADA in 2025

Cardano founder Charles Hoskinson also shared a bullish take on Cardano (ADA) for this year of 2025. Hoskinson has forecasted unprecedented growth for the network, citing the potential integration of Bitcoin DeFi through the BitcoinOS network as a key driver. This development could channel billions of dollars into the Cardano ecosystem by incorporating Bitcoin’s liquidity and functionality.

Furthermore, Hoskinson remains committed to greater decentralization for the Cardano blockchain adding that his last “duty is to remove any roadblock for this transition, and there is no way in hell anyone or thing is going to derail that process”. Recently, he had also questioned the Cardano Foundation’s stronger control in overall decision-making. Such developments could be bullish for Cardano price in the long term.

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Altcoin Market Cap to Hit $7 Trillion In 2025, Chart Explains How https://coinpress.live/altcoin-market-cap-to-hit-7-trillion-in-2025-chart-explains-how/ Thu, 02 Jan 2025 09:25:55 +0000 https://coinpress.live/?p=231685 Altcoins are gearing one for one of the biggest crypto market rallies in history with analysts predicting the entire market cap to 5x from here and reach $7 trillion. The strong technical setup shows that a major blow-up in the sector is in the offing similar to the 2021 bull run. Is the Altcoin Sector

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Altcoins are gearing one for one of the biggest crypto market rallies in history with analysts predicting the entire market cap to 5x from here and reach $7 trillion. The strong technical setup shows that a major blow-up in the sector is in the offing similar to the 2021 bull run.

Is the Altcoin Sector Preparing for a 5x Rally?

Crypto market analysts expect altcoins to kickstart a mega bull run in Q1 2025 as the technical chart setup shows a similar pattern that before the 2021 bull run. By connecting the market cap top of the previous bull runs in 2018 and 2021, the below chart shows that the next top could be around $7 trillion.

Source: TradingView

Throughout December 2024, the crypto market has faced major volatility along with Bitcoin price swings between $90,000 to $110,000. As per the data from CoinGeckco, the current market cap of all cryptocurrencies except Bitcoin is just under $1.5 trillion. However, the current situation shows that there’s a strong bottom formation suggesting that the altcoin correction could be behind us.

Additionally, the alt season index has been forming a strong base at 47 after dropping all the way from 88 last month on December 4. Moreover, with Bitcoin dominance showing signs of decline, this index is likely to recover from here on the upside.

Source: Blockchain Center

Crypto Market Stages Strong Recovery

The crypto market movement today is showing a strong push on the upside with top altcoins contributing to the most of it. The XRP price surge of 15% is leading the show with other players like Solana (SOL), Dogecoin (DOGE), Cardano (ADA), and Avalanche (AVAX) gaining anywhere between 6-10%. Thus, the start of 2025 seems pretty strong driven by overall optimism.

For its 2025 prediction, Steno Research forecasts that Bitcoin (BTC) and Ethereum (ETH) will exceed $150,000 and $8,000, respectively. Furthermore, analysts have expressed growing optimism about an upcoming altcoin season.

This bullish forecast for Bitcoin and Ethereum comes with the expectations of a highly favorable regulatory environment for cryptocurrencies, a supportive macroeconomic backdrop with declining interest rates, and improved liquidity. Furthermore, the report notes that the year following the Bitcoin halving has always been very bullish for the crypto market. It added:

“On top of this, institutional adoption is expected to reach unparalleled levels, further bolstered by significant inflows into U.S.-based Bitcoin and Ethereum ETFs.”

In January 2025, AI agents and tokens like ai16z are likely to increase market dominance. Other crypto events like token unlock, Solana ETF approval deadline, etc will dictate the direction of market movement ahead.

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