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.

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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Spot Bitcoin ETFs, a year after their approval, remain the talking point of the town. However, the outflow recorded on the last day of this week is causing worry. That marked the second outflow day with BlackRock’s IBIT leading the pack with a massive amount of outbound movement.

US Bitcoin ETF Records Outflow

This week ends with an outflow from US Bitcoin ETF according to a report by Farside Investors. The total outward movement stands at $149.4 million with BlackRock’s IBIT leading the pack. The issuer of the US Crypto ETF noted $183.6 million worth of outflows to its name followed by Bitwise’s BITB at $1.6 million.

Several issuers didn’t report their numbers but others did show positive sentiments. This includes Fidelity’s FBTC, Ark’s ARKB, and Grayscale’s GBTC. Their flows were $16.6 million, $5.7 million, and $13.5 million, applicable in the same order. It remains to be seen if interest in Spot Bitcoin ETFs will change in the coming days, or maintain a similar momentum till Donald Trump takes the US Presidential office.

Effect on BTC Price

The significant outflows from the US Bitcoin ETF have had little impact on the BTC price today. The flagship cryptocurrency has been down slightly by 0.18% in the last 24 hours but has traded in green for most of the hours. The price has also been down by 4.03% and 6.40% in the last 7 days and 1 month, respectively, potentially demonstrating a correction after it achieved the milestone of $100,000. The market cap of Bitcoin tokens has plunged by 0.26% and the 24-hour trading volume has taken a hit of 10.13%. Open Interest is down by 0.95% amid the volatility of approximately 3.62%.

A few factors show that the BTC rally will eventually get back to mark upticks. Dips in the prices of Bitcoin tokens are being looked at as a chance to accumulate more BTC at a discounted price. Another factor includes the nomination of Paul Atkins as the SEC Chair to replace Gary Gensler who is preparing to step down when Donald Trump assumes the office.

Besides, the latest US job data also appears to have encouraged investments which would fuel a rally for Bitcoin and altcoins in the coming days. What’s still a concern is the size of the rate cut which is anticipated to be 25 bps in the next FOMC.

What’s Happening to Spot Ether ETF?

Amid the Bitcoin ETF outflux, it is worth noting that the sentiment of outward movement is mutually shared with Spot Ether ETF except, it’s Fidelity’s FBTC leading the chart. The issuer recorded an outflow worth $65.4 million on January 10, 2025, as no data from BlackRock made its way to the surface. The only other issuer that reported its number was Bitwise’s ETHW which was $3.1 million.

Total outflows stood at $68.5 million taking the historical cumulative inflow to $2,456.3 million. Spot Ether ETFs, too, marked the second day of outflows after January 08, 2025, when the negative flow was $159.4 million.

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Crypto prices today remained steady, with Bitcoin (BTC) trading near $94K and Ethereum (ETH) holding firm after the release of U.S. jobs data. The global crypto market cap saw a slight increase of 1%, reaching $3.29 trillion, despite a 7% drop in trading volume to $144 billion. Grayscale, a leading crypto asset management firm, boosted market sentiment by revealing plans to consider 39 cryptocurrencies, including popular altcoins like Dogecoin (DOGE), BNB, Hedera (HBAR), Kaspa (KAS), and Aptos (APT).

Among major altcoins, Bitcoin SV (BSV) emerged as the top gainer, recording a 15% rise in the last 24 hours, highlighting strong performance in an otherwise stable market.

Crypto Prices Today: BTC Crosses $94K, XRP Gains Over 2%

Crypto prices today showed stability as Bitcoin (BTC) rebounded past $94K after making a low of $92K. Ripple’s XRP recorded a notable gain of over 2%, contributing to the overall market’s positive momentum. Meme coins also followed the BTC trend. Dogecoin (DOGE) and Shiba Inu (SHIB) both gained over 2% in the last 24 hours, reflecting renewed interest in the altcoin market.

Bitcoin Price Today

Bitcoin price today was trading at $94,203, up by 1% at the time of writing. The 24-hour low and high for BTC stood at $92,235 and $95,755, respectively.

As per Farside Investors data, Bitcoin ETFs recorded an outflow of $149 million. The major outflow was because BlackRock sold $183 million in ETF. Fidelity led the purchases with an investment of $16.6 million, while Grayscale added $13.5 million to its BTC ETF holdings.

Ethereum Price Today

Ethereum price today was trading at $3,234. The 24-hour low and high for ETH stood at $3,196 and $3,321, respectively.

ETH ETFs saw an outflow of $68 million, with Fidelity offloading $65 million. Fidelity has been consistently selling ETH ETFs for the last three days. Meanwhile, BlackRock’s data on ETH ETFs is still awaited, keeping investors watchful.

XRP Price Today

XRP price today was trading at $2.33, recording a 2.7% gain over the last 24 hours. The 24-hour low and high for XRP stood at $2.256 and $2.364, respectively.

According to a report by coinpress, data insights from Santiment revealed that the number of HODLers for XRP and other cryptocurrencies has grown during the early days of this new year.

Solana Price Today

Solana price was down by 1.5% in the last 24 hours, trading at $186. The 24-hour low and high for SOL stood at $183 and $192, respectively.

Top Cryptocurrency Gainer Prices Today

As per crypto prices today, here are the top 5 crypto gainers over the last 24 hours:

Bitcoin SV (BSV)

Price: $59.56
24-hour gain: +15%

IOTA (IOTA)

Price: $0.335
24-hour gain: +10%

Fantom (FTM)

Price: $0.699
24-hour gain: +8%

Algorand (ALGO)

Price: $0.364
24-hour gain: +6.5%

Bitget Token (BGB)

Price: $6.82
24-hour gain: +6%

Top Cryptocurrency Loser Prices Today

As per crypto prices today, here are the top 5 crypto losers over the last 24 hours:

ai16z (AI16Z)

Price: $1.33
24-hour loss: -13%

Virtual Protocols (VIRTUAL)

Price: $0.98
24-hour loss: -8%

SPX6900 (SPX6900)

Price: $1.10
24-hour loss: -6.87%

Hyperliquid (HYPE)

Price: $20.14
24-hour loss: -6%

Ethena (ENA)

Price: $0.8851
24-hour loss: -5.15%

Meme Crypto Prices Today

As per crypto prices today, meme coins have mirrored Bitcoin’s price movement. The top meme coin, Dogecoin (DOGE), rose by 2.3% and is currently trading at $0.3324. Shiba Inu (SHIB) also saw a 1% increase, trading at $0.0000215. Grayscale has recently considered DOGE, HBAR, and other cryptocurrencies for future investment products which shows bullish behaviour in the these altcoins.

Other notable meme coins, including PEPE, PENGU, and WIF, experienced declines of 1 to 2% in the last 24 hours.

Additionally, the hourly chart shows a slight bearish trend, with BTC down by 0.2% in the last hour. Major altcoins followed suit, showing bearish behavior. However, Bitcoin SV (BSV) stood out, gaining 1% in the past hour.

The post Crypto Prices Today: Bitcoin (BTC) and ETH Maintain Stability Following US Jobs Data appeared first on coinpress.

A Meta shareholder has submitted a proposal urging the company to assess the potential benefits of incorporating Bitcoin into its treasury. The proposal highlights Bitcoin’s historical growth and its potential as an inflation-resistant asset compared to traditional cash and bonds.

Meta Shareholder Board to Consider Bitcoin Treasury?

As per the proposal, by the end of the year 2024, that is, by December 30, the price of Bitcoin had increased by 124% in a year which was even better than the average performance of bonds.

In the last five years, the price of Bitcoin has risen by 1,265%, while bonds have been a distant second with an average return difference of 1,245%. Amid this announcement, Bitcoin price has seen a recovery with the price swaying between an intra-day high and low of $95,770 and $92,250, respectively.

The submission also points out that cash and cash equivalents (which account for $72 billion out of $256 billion of Meta’s total assets as of September 30, 2024) are vulnerable to depreciation owing to inflation. It posits that integrating a part of these cash reserves with Bitcoin may be a way of preserving shareholder value even with the known volatility of Bitcoin.

Bitcoin Adoption Among Corporations and Institutions

The proposal emphasizes the transition of Bitcoin from an investment or a payment method to a treasury asset for companies and institutions. MicroStrategy, a business that acquired Bitcoin early on, claimed that its equity rose by 17,000% through using BTC in its balance sheeting strategy. Likewise, Square (now Block) was 2.5 times better than the Nasdaq index and 12 times better than Meta’s performance.

Moreover, BlackRock, the second biggest Meta’s institutional investor, has introduced a Bitcoin ETF that turned into the most popular ETF in history. BlackRock has also come out in public stating that 2% of investment in Bitcoin is a good approach towards investing for the future.

The Meta shareholder’s proposal is that an allocation of this kind for Meta’s treasury could demonstrate progressive financial stewardship and be consistent with other leading companies.

Support from Meta Leadership and Industry Trends

According to the proposal, Meta’s leadership and its stakeholders have displayed interest in Bitcoin and its ecosystem. Meta’s founder, Mark Zuckerberg, and its board member Marc Andreessen who is also a member of Coinbase’s board has previously supported blockchain and cryptocurrencies. 

The shareholder argues that Meta shareholders should receive treasury management strategies that are similar to the sophisticated financial management strategies that most probably, some of Meta’s directors and executives have used.

The submission also mentions several companies and governments considering Bitcoin or already implementing it in the treasuries. For example, a bill was recently submitted to the New Hampshire legislature, which provides for the ability of the state treasury to hold Bitcoin as a reserve asset together with precious metals such as gold and silver. 

In the same way, public firms such as Heritage Distilling Holding Company and Genius Group Ltd have also embraced Bitcoin where Genius Group Ltd for instance purchased $5 million worth of bitcoins as part of its Bitcoin-first strategy.

Request for Assessment and Fiduciary Duty

The proposal calls on Meta’s board to perform an assessment to find out if it would be in the best interest of shareholders to include Bitcoin in Meta’s reserve. Thus, it postulates that as a fiduciary duty, the board should consider investments that can yield a return higher than cash and bonds, even if these investments are associated with higher risks.

Meta has always been known as a technology leader and a pioneer of new approaches to business. The Meta shareholder argues that this will strengthen this reputation by making Meta as one fo the first corporations to embrace Bitcoin. The request is more of a proposition but does not require a particular action, which focuses on the need to evaluate the possibility of using Bitcoin as a strategic asset.

Concurrently, John Deaton, a pro crypto lawyer has pointed out that Microsoft shareholders recently rejected the idea of investing in Bitcoin after a similar motion was made. Deaton further explained that Meta shareholders might find themselves in a similar situation but pointed out that companies that are waiting for future legislation that supports Bitcoin adoption such as the State Bitcoin Reserve (SBR) provisions in the Lummis Bill might view BTC as an acquisition of strategic importance.

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Heritage Distilling Holding Company, listed on the Nasdaq under the ticker CASK, has officially announced its Bitcoin Treasury Policy Statement. The company intends to incorporate Bitcoin into its operations by accepting it as payment and holding it as a strategic asset. This initiative positions the craft distiller as an early adopter of cryptocurrency within the craft spirits industry.

Heritage Distilling Adopts Bitcoin Strategy for Treasury and E-Commerce

In a recent press statement, Heritage Distilling outlined plans to integrate Bitcoin into its business model. The company will accept Bitcoin as payment through its direct-to-consumer e-commerce platform, enabling customers to purchase craft spirits using cryptocurrency. This move reflects a broader trend of businesses leveraging digital assets for seamless payment options.

Heritage Distilling also plans to hold Bitcoin as part of its corporate treasury strategy. The company believes this strategy enhances its financial flexibility and broadens its consumer base.

Notably, the growing adoption of Bitcoin strategy among institutional players has raised a lot of buzz in the cryptocurrency market. Most recently, CryptoQuant CEO Ki Young Ju revealed the only scenario in which MicroStrategy’s Bitcoin Strategy could lead to bankruptcy. According to him, the company, which holds $46 billion in BTC against $7 billion in debt, faces a liquidation threshold if Bitcoin’s price drops to $16,500—a situation he deems highly improbable.

Strategic Cushion Against Bitcoin Volatility

Heritage Distilling emphasized its ability to mitigate potential risks associated with Bitcoin price volatility. As a producer of consumer goods, the company benefits from a margin between the cost of production and the retail price of its products. This margin is a cushion allowing the company to absorb fluctuations in Bitcoin price without impacting its stability.

The company’s leadership noted that the recent updates to financial accounting standards simplify how public companies report Bitcoin holdings. This change makes it easier for businesses like Heritage Distilling to incorporate Bitcoin into their operations without accounting challenges.

Leadership and Governance Behind the Initiative

Heritage Distilling’s Board of Directors has established a Technology and Cryptocurrency Committee to oversee the development and implementation of its Bitcoin Strategy. Chaired by Matt Swann, a leader in technology and digital payments, the committee is tasked with crafting a formal Bitcoin Treasury Policy for board approval.

According to CEO Justin Stiefel, this initiative positions Heritage Distilling as an innovator in the craft spirits industry. The company aims to attract new customers, including Bitcoin users, while leveraging the potential growth of Bitcoin as an asset. 

 Justin Stiefel commented,

“Heritage has always been an innovator and once again we are leading the way in the craft spirits space as we prepare to accept Bitcoin as a form of payment for online e-commerce sales and to acquire and hold Bitcoin as an asset.”

Meanwhile, another notable Bitcoin adopter, Genius Group, has boosted its Bitcoin Treasury by $5 million, bringing its total holdings to $35 million. The AI-powered education firm remains committed to its “Bitcoin-first” strategy. It leverages crypto-backed loans to fund reserves and integrate blockchain into its educational platforms.

The company most recently boosted its Bitcoin Treasury by $10 million, bringing its holdings to 319.4 BTC at an average cost of $93,919 per BTC.

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A new bill introduced by New Hampshire Representative Keith Ammon could authorize the state treasury to hold Bitcoin and precious metals as reserve assets. The proposed legislation would permit the state to store Bitcoin alongside traditional assets such as gold, silver, and platinum, making New Hampshire one of the first U.S. states to formally consider such a move.

Hampshire Bill Proposes Investment in BTC and Gold

The bill presented by Republican lawmaker Keith Ammon explains the plans to build a “strategic reserve” for the state with both physical and digital currencies. The bill aims at making it possible for New Hampshire’s treasury to invest in Bitcoin and precious metals for its reserves.

Consequently, this represents a paradigm shift in the manner that states handle their financial assets as cryptocurrencies continue to gain acceptance.

The bill also provides for how the digital assets will be secured as seen in the “secure custody solutions”. This would mean that the state would have to work with so called “qualified custodians” in order to avoid possible risks connected with storage of digital assets. The legislation seeks to address security and legal issues that are important especially given that more states are turning to cryptocurrencies like El Salvador BTC buying strategy.

Rising Interest in Bitcoin Reserves Across States

New Hampshire’s proposal follows similar steps taken by other states, such as Texas, Ohio, and Pennsylvania. The idea toward using Bitcoin as a reserve has become more popular in the last one year as more people are embracing cryptocurrencies and the use of decentralized finance.

Incoming US president Donald Trump has also contributed to the discussion recently during his campaign where he pledged that United States would become the leader of cryptocurrency. The Trump administration had previously stated that the federal government owns 207,000 Bitcoin and this gave steam to other state-level initiatives like the one in New Hampshire.

Dennis Porter, CEO of the Satoshi Action Fund, confirmed the bill’s introduction in a statement posted on the X . According to Porter, the bill seeks to position New Hampshire as a forward-thinking state by embracing digital assets and ensuring their safe storage.

Global Interest in BTC as a Reserve Asset

The idea of using Bitcoin as part of government reserves is not limited to the United States. Countries such as Brazil and Poland have also begun exploring this concept, with some nations taking steps to include cryptocurrencies in their national treasuries.

Notably, Bhutan recently announced its plans to expand crypto adoption in its Gelephu Mindfulness City (GMC) initiative. Bhutan’s decision to hold Bitcoin, Ethereum, and Binance Coin in its reserves highlights the growing global acceptance of digital assets. Binance Co-Founder Changpeng Zhao remarked that this approach reflects a willingness to diversify reserves beyond Bitcoin alone.

Should the bill be approved, New Hampshire may become a pioneer in the implementation of the cryptocurrency into the public sector financial systems. However, the bill could be opposed by politicians who remain skeptical of the digital assets’ price fluctuations and the safety of storage solutions.

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Spot Bitcoin ETF products got the green light to trade precisely a year ago after about a decade of waiting on the United States Securities and Exchange Commission (SEC). At the time, 11 different asset managers received approval to launch the product. These BTC ETF products have stunned the financial world with record milestones.

Standout Spot Bitcoin ETF Products

Bloomberg Senior ETF Analyst James Seyffart shared a chart comparing Bitcoin ETFs with their counterparts in the broader market. Per the chart, the BlackRock iShares Bitcoin Trust (IBIT) has the largest asset valuation after 1 year. The BlackRock IBIT crossed $50 billion AUM in December 2024. 

IBIT is now worth $52.33 billion, beating its closest rival, the Invesco QQQ Trust Series, with $18.3 billion. Notable, Invesco QQQ Trust Series is one of the world’s largest in the broader financial world.

The Fidelity Wise Origin Bitcoin Fund (FBTC) secured third place among the best ETF launches ever. After a year, its assets under management were worth $19.681 billion. Other ETF products from ARK 21Shares and Bitwise earned $4.391 billion and $3.3829 billion, respectively.

According to Seyffart, adjusting this Bitcoin ETF’s accrued assets for inflation will still place them among the top 20. The performance aligns with earlier records that show BTC and Ethereum funds dominated across 740 ETF launches in 2024. 

Tough Competitor To Gold ETFs

Acknowledging the strides of the BTC ETF products, Fox Business Journalist Eleanor Terrett also shared interesting numbers. Per her update, these ETF products have accumulated 1 million BTC units worth over $95 billion in today’s prices.

Considered the biggest asset in the world, these new ETF players also dusted Gold’s earlier milestones. The Bitcoin Exchange Traded Fund products have surpassed Gold’s AUM of $128 billion. 

A little more on just how significant the $BTC ETFs have been:

Since the launch, the ETFs have accumulated over 1 million bitcoin, worth over $95 billion at today’s prices.

4 of the ETFs are now in the top 20 best performing U.S. ETF launches of all time — @BlackRock’s…

— Eleanor Terrett (@EleanorTerrett) January 10, 2025

As pointed out by Terrett, Gold ETFs took approximately 20 years before achieving the $128 billion milestone. BTC ETFs scored this record in a year. Considering the fast growth pace of Bitcoin over gold, Michael Saylor advised investors to ditch gold for BTC.

Price Impact and Institutional Embrace

Spot Bitcoin ETF products form one of the biggest sources of demand for the underlying current. Owing to the consistent accumulation, Bitcoin price recorded its highest level in 2024. Per an earlier coinpress report, the coin hit $108,000 in December 2024 after multiple records scored in the past months.

Institutional investors in the U.S. and worldwide bought Bitcoin ETF in the US at an unexpected pace. With Donald Trump’s incoming pro-crypto administration set to start this month, there are expectations that more favorable policies to attract firms to BTC will be rolled out.

Bitwise CIO Matt Hougan is also optimistic about these funds’ performance for 2025, highlighting them as one of the three sources of insatiable Bitcoin demand in 2025. 

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Since the price of Bitcoin (BTC) fell below the $100,00 mark on January 7, it has continued to experience intense volatility amid a push for a rebound. With investors staying cautious, market data tracker CryptoQuant has hinted at a “buy the dip” opportunity traders must watch out for. 

Hopes for Bitcoin (BTC) Price Amid SOPR Signal

According to the insight from CryptoQuant’s Analyst MAC.D, the more short-term investors experience pain, the better the buying opportunities. He noted that as the BTC price dropped, the negative headlines on social media skyrocketed. Despite the ongoing price correction, he said this means the market is turning bearish.

MAC.D pointed at the Spent Output Profit Ration (SOPR) indicator to confirm waning sentiments. Per the CryptoQuant data, the SOPR is now pegged at 0.987. This proves that Bitcoin investors who have held the coin for 6 months or less are selling at a loss.

Short-term SOPR below 1, a good time for accumulation

“As short-term investors experience more pain, it often presents better opportunities for accumulation.” – By @MAC_D46035

Further details https://t.co/gNGhFcp7DB pic.twitter.com/BOUJjBFzGp

— CryptoQuant.com (@cryptoquant_com) January 10, 2025

Drawing on historical trends, MAC.D said the market is always known to rebound whenever short-term investors are selling. He reiterated that this is the right time to accumulate or “buy the dip.”

Has Bitcoin Hit Cycle Top?

The CryptoQuant Analyst said cycle indicators like the MVRV, NUPL, Puell Multiple, and the short-term investor ratio (now at 60%) all prove that Bitcoin has not hit its cycle top.

Driving the crypto market fall in the past 24 hours, Bitcoin price hit a low price of $91,220.84. At the moment, BTC is changing hands for $95,726, up 3.16% in 24 hours. Despite the earlier drawdown, MAC.D said the selloff does not signal the end of the upward cycle.

The analyst said if short-term investors continue to sell their BTC, smart ones might accumulate at a discount. He concluded that selling now might be “a very unwise decision.”

More Volatility Ahead of Trump’s Inauguration

Bitcoin price has shown that it remains a volatile financial asset that reacts to even macroeconomic conditions. Earlier this week, there were reports that the U.S. Department of Justice has received the green light to liquidate about $6 billion in BTC seized from the Silk Road marketplace.

The market tumbled in response to this update. However, industry leaders like Bitwise CIO Matt Hougan reassured the market would absorb and buy back the BTC should the U.S. government sell. Despite these assurances, the coin has yet to recover.

With expectations on the incoming Donald Trump administration to do right by the industry, the volatility might increase more in the coming days.

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The latest nonfarm payrolls data shows a surge in the US employment rate for December. Meanwhile, the unemployment rate also came in lower than expected. These macroeconomic figures could significantly impact Bitcoin and the broader crypto market.

US Nonfarm Payrolls Surge To 256,000

The Labor Department data shows that the total nonfarm payroll employment increased by 256,000 in December, beating the estimates of 160,000. This again represents a strong US job data after an increase to 227,000 in November.

The unemployment rate dropped to 4.1%, as against the expected 4.2% recorded in November. Following the release of this nonfarm payrolls report, traders are now betting against a first-half rate cut from the Federal Reserve.

These traders predict that the Fed will only cut rates once this year, and it is unlikely to happen earlier than June. Specifically, they project that the only interest rate cut this year will occur in October.

This development presents a bearish outlook for the BTC price, considering how this macro data could play out in the minds of investors. The Fed made three interest rate cuts last year, which makes a potential one rate cut this year more disappointing.

Treasury Yields Rise To Highest Levels Since 2023

Following the release of the nonfarm payrolls report, the US 10-year and 30-year treasury yields rose to their highest levels since November 2023. This macro data also presents a bearish outlook for Bitcoin and the broader crypto market.

Meanwhile, as expected, the US dollar has strengthened amid the strong US job data report. These macro factors have already added to the significant volatility that is being experienced in the crypto market today.

There had already been a lot of volatility since the day began due to the 19,000 BTC options, which expired just before the release of these macro data.

All eyes will be on the Producer Price Index (PPI) and Consumer Price Index (CPI) inflation figures, which will come out next week. Those inflation figures will likely further dampen expectations of a Fed rate cut in the first half of the year.

What Next For The Bitcoin Price?

The Bitcoin price flash crashed to as low as $92,000 following the release of the nonfarm payrolls data but is now back above $93,000. However, the flagship crypto is still at risk of a significant price correction, especially with the likelihood of the US government selling its $6.5 billion Silk Road BTC stash before Donald Trump takes office.

Crypto analyst Titan of Crypto has also drawn the crypto community’s attention to a Bitcoin correction fractal from 2020 that is unfolding following the strong US job data.

The crypto analyst remarked that there are mixed implications ahead for risk assets like BTC and other cryptocurrencies. His accompanying chart showed that BTC is at risk of falling to as low as $81,000, depending on how this plays out.

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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.

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.

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.

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.

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.

The post 19000 BTC Options to Expire Ahead Of Key US Non-Farm Payrolls Data appeared first on coinpress.

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.

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.

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”.

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 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”.

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.

The post Bitcoin Price To Recover With Global M2 Money Supply Soon: Wall Street Analyst appeared first on coinpress.

Cryptocurrency prices today reflect a bearish trend as Bitcoin (BTC) hit a low of $92,000, while major altcoins like Ethereum (ETH) and XRP saw declines of around 2.51% and 3%, respectively. The global crypto market cap dropped by 1.68% to $3.25 trillion, with trading volumes falling 11% to $155 billion. These declines come as markets anticipate U.S. jobs data, which could impact interest rate expectations and crypto valuations. The Fear and Greed Index remains at 43, indicating neutral market sentiment amid ongoing volatility.

Crypto Prices Today: BTC, ETH, XRP, and SOL Struggle to Hold Key Levels

Bitcoin (BTC) dropped to $92,000, continuing its bearish trend, while Ethereum (ETH) fell by 2.51%. XRP declined by 3%, and Solana (SOL) recorded losses amid overall market weakness. Meanwhile, CleanSpark announced that it has mined over 10,000 BTC in its treasury, showcasing resilience despite market volatility.

Bitcoin Price Today

Bitcoin (BTC) price was trading at $93,433 after hitting a low of $91,231 earlier in the day. The leading cryptocurrency was down by 1% at the time of writing. Its market cap has once again fallen below the $2 trillion mark, now standing at $1.85 trillion. As per Coinglass data, in the last 12 hours, Bitcoin saw a liquidation of $43 million, with $33 million from long positions and $9 million from short positions.

Ethereum Price Today

Ethereum (ETH) was trading at $3,245, down 2.55% in the past 24 hours. Its 24-hour low was $3,159, while the high touched $3,341. Crypto prices today remained bearish, but a coinpress analyst suggested ETH could potentially hit its all-time high, as Fidelity deposited 103 million ETH into Coinbase, sparking fresh market interest.

XRP Price Today

XRP was trading at $2.28, reflecting a 3% drop in the last 24 hours. Its 24-hour low stood at $2.23, while the high reached $2.36. In other news, on-chain data revealed that Ripple Labs transferred 300 million XRP to an anonymous wallet, sparking concerns of a potential sell-off in the market.

Solana Price Today

Solana (SOL) was trading at $188, down by approximately 4% in the last 24 hours. Its 24-hour low was $182, while the high reached $195. The coin is facing some downward pressure, continuing the bearish trend in the broader market.

Top Cryptocurrency Gainer Prices Today

As per crypto prices today, here are the top 5 crypto gainers over the last 24 hours:

Kaia (KAIA)

Price: $0.21
24-hour gain: +3%

Litecoin (LTC)

Price: $103.93
24-hour gain: +2.15%

BitTorrent (BTT)

Price: $0.000001161
24-hour gain: +2.06%

Movement (MOVE)

Price: $0.88
24-hour gain: +2%

KuCoin Token (KCS)

Price: $10.60
24-hour gain: +1.67%

Top Cryptocurrency Loser Prices Today

As per crypto prices today, here are the top 5 crypto losers over the last 24 hours:

THORChain (RUNE)

Price: $3.27
24-hour loss: -17%

SPX6900 (SPX)

Price: $1.17
24-hour loss: -10%

Bittensor (TAO)

Price: $430.80
24-hour loss: -7.15%

Dogwifhat (WIF)

Price: $1.57
24-hour loss: -6.84%

Virtual Protocols (VIRTUAL)

Price: $3.21
24-hour loss: -6%

Meme Crypto Prices Today

Meme crypto has shown a mixed reaction as Bitcoin touched the $92K mark. Dogecoin (DOGE) was down by approximately 4%, trading at $0.326, while Shiba Inu (SHIB) was trading at the same price as yesterday, with a slight gain, now at $0.00002129.

Other top meme coins such as PEPE, PENGU, and BONK are down by approximately 4% in the last 24 hours.

U.S. Non-farm Payrolls Report: Key Market Trigger for Crypto Prices Today

The market now braces for the U.S. Non-farm Payrolls report, expected to highlight December’s job growth figures. Crypto analysts DegenDePraga predict a payroll increase between 100,000 and 125,000 jobs, which could signal that the Federal Reserve might hold interest rates steady. However, figures outside this range could trigger market volatility.

Same as the 3-day retrace on $BTC from 102k to 91k wasn’t the start of a bearmarket, this relief to 94k is not a bullish rebound.

Wait for the NFP job data at 8.30am NY time.

How to read Non-Farm Payrollls the data:

– 100-125k = very gud
– 50k-200k (outside of 100-125k) =…

— DegenDePraga (@thy_crypto) January 10, 2025

Analyst cautioned traders, saying, “whatever the number, there will be volatility first as trading bots get triggered sweeping liquidity (potentially both ways). Wait for the dust to settle. If we get 100-125k or close to that number, we may go up straight away short-term.”

On a more positive note, the hourly chart suggests some recovery, as Bitcoin and major altcoins are in the green in the last hour. AI16Z has been the top performer, up by 2% in the past hour.

The post Crypto Prices Today: Bitcoin & Major Altcoins Dip as Key Jobs Data Looms appeared first on coinpress.

CleanSpark, a Bitcoin mining company based in the United States, has recently mined more than 10,000 BTC in its treasury. As of January 9, 2025, when this report was written, the company is holding 10,097 BTC, all of which were mined. This comes after CleanSpark said it had mined 668 bitcoins in December 2024, which put the total number of Bitcoins available in its treasury at 9,952.

CleanSpark Reaches 10,000 BTC Milestone

CleanSpark announced in a press release that the company has accumulated over 10,000 BTC in its treasury through its self-mining in the USA. This amounts to a 236% yearly increase in the amount of Bitcoin the company has been holding. At the end of the year 2024, the company had mined 668 BTC in a month, taking the overall total of BTC to 10,097 from 9,952.

According to CleanSpark, this achievement was attributed to operational efficiency and positioning. So, the company has been focusing on adequate capital management to develop the mining operations and not to affect company growth.

Chief Financial Officer of CleanSpark, Gary Vecchiarelli, added,

“As the digital asset landscape evolves, we are committed to using our bitcoin holdings in a manner that aligns with sound risk management principles and disciplined capital strategy. By avoiding unfavorable counterparty exposure and leveraging our bitcoin to lower our cost of capital, we are positioning CleanSpark as a leader in responsible financial innovation.”

These milestones come amid recent reports that the Bitcoin miner would be buying BTC after raising $550 million in convertible senior notes. However, Cleanspark clarified it would not use the funds to purchase Bitcoin, instead allocating $145 million to repurchase shares and settle debts.

Commitment To US-based Operations Drives Bitcoin Mining

Notably, all Bitcoin in CleanSpark’s treasury has been mined in the United States, supported by local energy resources and jobs. This approach aligns with the company’s dedication to boosting innovation and sustainability in the Bitcoin mining industry.

Additionally, CleanSpark’s CEO, Zach Bradford, emphasized the importance of operational excellence in achieving this milestone. The company’s operations reflect a broader commitment to supporting the growth of Bitcoin mining practices and responsible use of resources.

Zach Bradford emphasized, 

“Surpassing the 10,000-bitcoin mark reflects CleanSpark’s commitment to operational excellence, strategic growth, and disciplined capital management.”

Notable moves include the purchase of GRIID Infrastructure and the addition of seven new facilities in Knoxville, Tennessee. These developments have enabled the Bitcoin miner to diversify its mining portfolio and increase its operational capacity.

The company’s acquisition strategy optimizes its mining facilities, which are powered by low-cost and reliable energy sources. This approach has helped CleanSpark maintain a competitive edge in the dynamic Bitcoin mining industry.

Bitcoin Miner Financial Strategy

Also, the financial strategy of CleanSpark is a perfect balance between risk-taking and the efficient use of its Bitcoin assets. The company does not take risks with counterparties and uses its Bitcoin treasury to reduce capital expenses. This is especially the case given its goal of achieving sustainable financial value for stakeholders alongside financial resilience.

Moreover, another Bitcoin miner, Riot Platforms, revealed it produced 4% more BTC in December 2024, mining 516 BTC in total. The company launched the 400MW phase of its Corsicana Facility and this saw the company’s hash rate increase by 155%. Riot generated 4,828 BTC in 2024 while still managing to keep an average net power cost of $0.034 per kWh.

The post Bitcoin Miner CleanSpark’s BTC Stash Crosses 10,000 Milestone: Details appeared first on coinpress.

Bitwise Chief Investment Officer (CIO) Matt Hougan has commented on what will likely happen if the US government under Joe Biden sells its $6.5 billion Silk Road BTC stash. The Bitwise CIO’s remarks come following the court’s approval for the government to sell these coins.

Bitwise CIO Comments On US Government’s Potential Bitcoin Sale

In an X post, Bitwise CIO Matt Hougan mentioned that the market will hoover it up if the US government actually sells its $6.5 billion Silk Road stash in the remaining days of the Biden Administration.

He added that the new administration, led by Donald Trump, would buy these bitcoins back if the Biden administration sells them. However, it remains uncertain whether that will indeed happen, as Trump has yet to comment on this.

Hougan’s comments come following the court’s green light for the government to liquidate the 69,000 BTC ($6.5 billion) that it seized from the dark web marketplace Silk Road.

Meanwhile, while the US might be looking to offload these coins, other countries are looking to adopt a crypto Reserve. Bhutan’s Gelephu Mindfulness City recently announced plans to include Bitcoin, Ethereum, and BNB in its reserves.

Peter Schiff Holds A Different Opinion

While the Bitwise CIO believes that Donald Trump’s administration will buy these coins back, Bitcoin critic Peter Schiff has suggested this is unlikely.

In an X post, the renowned economist asserted that the US president-elect won’t buy these coins or even more if Biden’s government sells the BTC stash before he takes office.

Schiff also believes Biden’s government will sell these coins before January 20. He mentioned how he has been warning since the election in November last year that this current administration would sell all the US-owned BTC before Trump takes office. He added that Trump’s only campaign promise was not to sell the US-owned BTC, but he never promised to buy any more.

A $6.5 billion BTC sale by the US government could significantly impact the Bitcoin price. Interestingly, amid this potential price decline. Peter Schiff has also predicted an MSTR stock crash due to the company’s Bitcoin exposure.

Bitcoin Price Could Be Ready To Rebound

Crypto analyst Ali Martinez has provided some optimism amid the recent Bitcoin price crash. In an X post, he stated that BTC could be getting ready to rebound.

For Bitcoin to move higher, the analyst revealed that it needs to break above $94,600. A break above this resistance level could lead to a further rally to $96,300 or even $97,000.

Meanwhile, the analyst also revealed that 66.38% of traders on Binance are betting on a Bitcoin price rebound. The analyst noted that these traders have a track record of being right.

The post Bitwise CIO Reveals What Will Happen If The US Sells Its Silk Road BTC appeared first on coinpress.

A UK high Court judge has dismissed Bitcoin miner James Howells’ legal effort to recover a hard drive containing access to Bitcoin worth £600 million (almost $770 million).

The decision, handed down by Judge Andrew John Keyser KC, marks the end of a long-standing legal battle between Howells and Newport City Council over access to a landfill site in South Wales, Great Britain.

Court Denies Bitcoin Miner James Howell’s Claim

An early Bitcoin miner James Howells, said that he threw away a hard drive with 7,500 BTC in it in 2013. The council countered that once the hard drive was in the landfill, it became the property of the council under the current disposal of waste laws. The court also heard that environmental permits did not allow digging the landfill to extract the device.

According to the BBC report, Judge Keyser KC has dismissed Howells’ lawsuit stating that there are no reasonable grounds for the claim and there is no reasonable likelihood of success at trial. In the written judgment, the judge said that there was no good reason why the claim should be permitted to continue.

Howells had several times presented Newport City Council with a piece of the Bitcoin, which he estimated could be worth over £1 billion ($1.2 billion) by 2026 if the council helped him access the hard drive.

Environmental Concerns Block Newport Landfill Access

Newport City Council told the court that James Howell should not be allowed to use the landfill because it would be against the law. The landfill, which contains over 1.4 million tonnes of waste, cannot be excavated under the current permit.

James Howells said that the search had been concentrated on an area that contained 100,000 tonnes of waste, where the hard drive was last known to be. However, the council argued that just trying to get the hard drive back could also be dangerous to the environment.

The council’s legal representative, James Goudie KC, stated that the planned excavation would make the council have to “play fast and loose” with the environmental laws. The court supported the council arguing that a set of waste management legislation was more significant than Bitcoin miner’ rights to the lost device.

Bitcoin to Remain Buried Impacting its Value

James Howell bought the 7,500 BTC in 2009 when the currency was not very valuable. Since then, the value of Bitcoin has increased, and in recent years, it has touched historical market values. Between 2024 alone, the price of Bitcoin rose by over 80%, and Howells felt that he had to act faster and renewed the efforts to get his BTC back.

At the time of the decision of the court, BTC price was standing at nearly $94,000, thus making the lost wallet one of the most valuable single ownership of bitcoins. Howells said that the lost funds could be a life-changing amount of money, but he could not retrieve the hard drive due to legal and regulatory restraints.

However, Howells had said earlier that he was ready to wheel his case to the UK Supreme Court. However, with the dismissal of the claim, it is quite difficult for him to recover the lost Bitcoin.

The James Howell case has drawn attention to the broader issue of lost Bitcoin and its potential effect on the cryptocurrency market.

In a separate case, the United States government liquidated 69,370 BTC, worth $6.7 billion, seized from the Silk Road marketplace. The US DOJ decided to go ahead with selling Bitcoin amid fluctuations in prices. Bitcoin’s volatility has also been highlighted, as the digital asset briefly fell below $92,000 following the recent liquidation.

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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.

The post US Bitcoin Reserve in Q1 2025? Crypto Industry Lobbies Amid Selloff News appeared first on coinpress.

Nayib Bukele, the President of El Salvador, has hinted that a Bitcoin buying opportunity looms, sparking optimism among investors. This stems from the recent development wherein the US Government sold $6.7 billion worth of Bitcoin tokens. The community anticipates a higher selling pressure which will pull down prices, potentially to $90,000.

El Salvador President Teases BTC Buying Opportunity

Prices of Bitcoin, or any other cryptocurrency for that matter, have fluctuated based on the market sentiment along with other factors. Besides, it also reflects the heavy selling pressure in the market, indicating that the volatility is likely to continue for some time now.

However, while some look at it as a bearish phase, others call it price correction. Besides, a flurry of prominent figures like Rich Dad Poor Dad author Robert Kiyosaki, Nayib Bukele, and others deem it a great chance to buy the token at a discounted price.

There is no denying the fact that the price of BTC has been struggling for the last couple of days, considering it has dropped below $95,000 with many calling it a price crash. The US Government has sold Bitcoin tokens that were seized from Silk Road and the token price is only going downhill since that development.

Assuming BTC does fall to $90,000, it would be a ‘prophecy which came true’ moment for El Salvador’s President, Nayib Bukele, allowing crypto enthusiasts to accumulate more tokens to their portfolio.

What’s Next for BTC?

The current exchange BTC price is $94,061.07 which is down by 1.26% in the last 24 hours and 1.43% in the last 7 days. There is also a decline in the market cap and 24-hour trading volume of 1.25% and 2.99%, respectively. The flagship token did touch upon the pinnacle of $102,464.43 earlier this week but the struggle is more than evident now and chances are that what’s next for the token is a further decline in the price chart.

A flurry of market participants are rather optimistic about the scenario with most of them pitching to proceed with the purchase of tokens if prices decline and become the ‘next Singapore’. This case could demand becoming the next ‘El Salvador’ because the nation is also known for boosting its crypto holdings and mainstreaming them widely.

Coming days for BTC are filled with two perspectives with one establishing a good chance to buy the dips and another depicting a chance to save losses if anyone is holding BTC for a short term. It is still highly speculated that BTC will fall further unless Donald Trump makes another move as he did recently by hosting Brad Garlinghouse over a dinner.

Bottomline

Nayib Bukele’s post on X has sparked an optimistic side for BTC enthusiasts. There is a high chance that Bitcoin price will bounce back if it does fall to around $90,000, for it might be backed with heavy purchases by those wanting to make the most of the dips.

Besides, Robert Kiyosaki also shared a similar sentiment recently, where he said that he would continue to accumulate more BTC as the prices went towards the South. This showcases the confidence of the traders towards the flagship crypto. However, given the heightened volatile scenario in the market, investors should exercise due diligence before putting their bets into the assets.

The post El Salvador President Nayib Bukele Hints at Buying More Bitcoin As US DOJ Approves Sell appeared first on coinpress.

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,

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.

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.

Short-Term Holders moved 23,200 $BTC to Exchanges at a Loss. pic.twitter.com/lhTY2GmTZd

— Maartunn (@JA_Maartun) January 8, 2025

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!”

The post Breaking: US Govt Sells $6.7 Billion in Bitcoin, Will BTC Price Crash Soon? appeared first on coinpress.

The crypto market today remains in bearish territory as Bitcoin slipped below $95K, with major altcoins following suit and several tokens trading in the red. THORChain (RUNE) and Injective (INJ) were among the worst performers, both dropping 11% from their daily highs. The global crypto market cap declined by around 2%, settling at $3.33 trillion, though trading volume saw a slight 4% increase over the past 24 hours, reaching $168 billion. Let’s dive into the latest prices of the top cryptocurrencies by market cap.

Crypto Market Today: BTC, ETH, SOL Drop in Bearish Trend

The crypto market today saw a continued bearish trend, with Bitcoin (BTC) down 3%, Ethereum (ETH) falling 2%, and Solana (SOL) dropping 2.5%. Despite the downturn, a positive sign emerged as Bitcoin whales began accumulating BTC once again.

Bitcoin Market Today: BTC Drops 3%, ETF Outflows Continue

Bitcoin price was trading at $94,390, reflecting a 3% drop in the last 24 hours. The 24-hour low and high for BTC stood at $92,559 and $96,666, respectively.

As per SoSo Value data, BTC ETFs witnessed an outflow of $582 million. Fidelity led the sell-off, offloading $258 million worth of Bitcoin. Ark and 21Shares also sold $148 million in Bitcoin, while BlackRock sold $124 million.

Ethereum Market Today: ETH Price Down 1.5%, ETF Outflows Surge

Ethereum price was down by 1.5%, currently trading at $3,325. The 24-hour low and high for ETH were recorded at $3,210 and $3,387, respectively.

ETH ETFs saw an outflow of $159 million in the past 24 hours, with Fidelity contributing $147 million to the sell-off. The ongoing bearish sentiment continues to impact the crypto market today, reflecting declining prices and significant fund outflows from major institutions.

XRP Market Today: Only Gainer Among Top 10 Coins

XRP price stood out as the only coin in the top 10 to register a gain, rising by 0.40% in the last 24 hours. It was trading at $2.351, with a 24-hour low of $2.214 and a high of $2.396. Additionally, Ripple’s stablecoin RLUSD has been listed on the Bitstamp exchange, adding more utility to the XRP ecosystem.

Solana Market Today: SOL Price Drops 2%

Solana (SOL) price was down by approximately 2%, currently trading at $195.45. Its 24-hour low and high were recorded at $189 and $199, respectively.

Crypto Market Gainers Today

XDC Network

XDC price was up by 7%, now trading at $0.0973. Its 24-hour low and high were $0.087 and $0.0975, respectively. With a market cap of $1.45 billion and a trading volume of $59.35 million, XDC stands out amidst the crypto market today’s overall downturn.

Monero

XMR has been the 2nd top gainer for today, with its price trading at $196, reflecting a 4% increase. Its 24-hour low and high were recorded at $183 and $201, respectively. With a market cap of $3.61 billion and a trading volume of $86.49 million.

Hyperliquid (HYPE), GateToken (GT), and NEO token have also shown gains in the crypto market today, with each token up by 2% to 4% in the last 24 hours. Despite the broader market’s bearish trend, these tokens have managed to perform well.

Crypto Market Losers Today

THORChain

RUNE price was down by 11%, currently trading at $3.94. Its 24-hour low and high were recorded at $3.86 and $4.35, respectively, reflecting a significant decline in the crypto market today.

Injective

INJ price was down by 11% in the last 24 hours, trading at $21.60, with a 24-hour low of $20.54 and a high of $23.88. Despite the downward trend in the market, INJ price has been up by 11% in the last quarter and saw a 13% increase in the past week after the community passed a major governance proposal, amid growing market interest in AI coins.

WIF, MOVE, AIOZ, and SPX have also faced a decline of 7% to 9% in the last 24 hours. This adds to the overall bearish sentiment in the market.

Besides this, the hourly chart also shows a bearish sentiment in the crypto market, with Bitcoin down by 0.13% in the last 24 hours. Fartcoin dropped by 4% in the last hour, and major altcoins are also in the red, reflecting continued selling pressure across the market.

The post Crypto Prices Drop Jan 9: Bitcoin, ETH, RUNE & INJ Hit Hard appeared first on coinpress.

After an intense selloff earlier this week, Bitcoin (BTC) whales are likely fueling a rebound in the broader crypto market. Now in consolidation, the market might face a potential breakout if ongoing acquisition from BTC whales translates into a short-term price rally.

Bitcoin Whales Taking Advantage of Correction

According to CryptoQuant data, large buying activity has resumed onchain after what it termed the biggest selloff of 2024. As reported earlier by coinpress, the BTC price fell suddenly after the US jobs and ISM Services Prices PMI came in strong. Despite this macro data, which indicated no rate cut by the US Federal Reserve, traders stayed cautious.

Today, the Bitcoin price traded from a high of $97,258.32 to as low as $92,525.84. Noting the price outlook, CryptoQuant Analyst Cauê Oliveira said market whales waited patiently to accumulate just below the $95,000 level.

After the biggest dump of 2024, whales are accumulating Bitcoin again

“However, large players took advantage of the consolidation to open TWAP positions, patiently accumulating just below US$ 95K.” – By @caueconomy

Full post https://t.co/yGOkuW0zo7 pic.twitter.com/9lqlHoWa4O

— CryptoQuant.com (@cryptoquant_com) January 8, 2025

In his detailed analysis, Oliveira said that institutional investors dumped around 79,000 BTC over a week. This action triggered a 15% correction that the market is still not free from. He pointed out that large whales took advantage of the situation to open “TWAP Position” over the past 30 days.

Institutional Investors Shielding the Market

Per the CryptoQuant analyst, Bitcoin whales have bought more than 30,000 BTC units over the past month. He confirmed that institutional investors are the primary source behind the buying pressure for the recovery of BTC.

The analyst pointed out that the retail demand for BTC has remained at its highest level in five years. Meanwhile, Bitcoin whales or institutional interest remains high overall.

Most institutional buyers include firms like MicroStrategy and Riot Platforms. In a recent report, MicroStrategy bought $22 billion BTC in 2024. Following its purchases, the firm recorded a BTC yield of 74.3%.

If related acquisitions continue, there are projections that it can help BTC print new highs in the mid-term.

The Shift to a Third Force

While institutional investors formed the Bitcoin whales caucus that pushed the coin’s price to an all-time high of $108,000, nation states are predicted to join soon.

After President-elect Donald Trump’s inauguration, conversations about a strategic Bitcoin reserve are growing. During his campaign, Trump pledged to set up such a reserve once he entered office, and the industry now expects him to fulfill his promises.

If the US makes this move, market experts predict that other nations will follow. In the long run, the impact on Bitcoin price might be profound.

The post Bitcoin Whales Are Accumulating Again, Is Price Rebound Ahead? appeared first on coinpress.