Crypto analyst Investing Haven has provided a bullish outlook for the FLOKI, predicting that the meme coin could record a 200% surge. The analyst also revealed what must happen before FLOKI can record such a parabolic price surge.

FLOKI Price To Surge 200% If This Happens

In an X post, Investing Haven predicted that the FLOKI price could rally to its 2025 bullish target of $0.0005. However, he remarked that holding the critical support at $0.000122 early this year is key to maintaining bullish momentum and aiming for a breakout to this new all-time high (ATH).

The analyst asserted that a bounce from this support level could propel the top meme coin toward this 2025 target of $0.0005. So far, FLOKI has held well above this crucial support level, which is undoubtedly a huge positive, especially considering the bearish sentiment in the broader crypto market.

With the FLOKI price holding comfortably above this support level, Investing Haven suggested this might be the perfect ‘buy the dip’ opportunity.

A recent coinpress report also noted how the Bitcoin SOPR was hinting at this recent market downtrend being the perfect opportunity to accumulate more coins.

A 5X Price Increase Is A Possibility

Crypto analyst CryptoElites has predicted that the FLOKI price could witness a 5x increase from its current level. That means the meme coin could rally to as high as $0.00088.

CryptoElites seemed confident that FLOKI could record such a rally, noting that the technical setup is completely positive. The $0.00088 price target is a level that Investing Haven also believes that the meme coin could reach this year.

Crypto analyst Master Kenobi also believes that a FLOKI price rally may be imminent. He noted that FLOKI may be at the stage where it could witness volatility before a significant pump.

His accompanying chart showed that a 10x price increase was possible, with the top meme coin rallying to as high as $0.0011. The analyst had previously highlighted $0.00021 and $0.00028 as two price levels to watch before FLOKI hits ATH.

The post Analyst Predicts 200% Surge For FLOKI Price But This Must Happen First appeared first on coinpress.

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.

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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Shiba Inu (SHIB) and Dogecoin (DOGE) investors may need to exercise caution as they may face a rough ride ahead as both cryptocurrencies show signs of significant price corrections. Shiba Inu recently dropped by 10% in the past week, while Dogecoin saw a 14% drop in the same period. Whale activity and a shift in investor sentiment are factors that may cause further declines. The fading hype and lack of fundamental strength could spell trouble for these popular meme coins in the near future.

Whale Activity and Market Sentiment Impacting Shiba Inu and Dogecoin

The influence of whales on the meme coin market cannot be overstated. Shiba Inu and Dogecoin have both seen significant movements driven by whale activities, often causing price fluctuations. Recently, Dogecoin whales have been dumping $219 million of DOGE.

This sell-off has contributed to the token’s decline and may trigger a chain reaction as smaller retail investors often follow the actions of large holders. With Dogecoin’s price showing weakness, this could spell trouble for the token if the trend continues.

Similarly, Shiba Inu is also experiencing heightened volatility, with its price swinging wildly over the past week. This has raised concerns that retail investors are engaging in speculative trading, rather than making long-term investments based on solid fundamentals.

The sell-offs by whales, combined with the lack of clear market drivers, could lead to a further erosion of investor confidence in both of these tokens. As the market sentiment shifts from optimism to caution, both meme coins may face challenges sustaining their price levels, which could eventually lead to significant corrections.

The Fading Hype and Fundamental Weaknesses Meme Tokens

Shiba Inu and Dogecoin have thrived on the back of community-driven hype and speculative trading rather than real-world utility. Over the years, both tokens have built massive followings, fueled by social media buzz and endorsements from celebrities like Elon Musk. However, as the novelty of meme coins begins to fade, these assets face growing difficulties in maintaining their value.

Shiba Inu has been increasingly viewed as a speculative asset, driven more by trading activity than by any fundamental development or application. Despite efforts such as the Shib token burn mechanism, the overwhelming selling pressure has continued to weigh on SHIB’s price. Besides, the SHIB token burns also plunged recently, which has weighed on the investors’ sentiment.

Similarly, Dogecoin, while holding a strong position in the top meme coin space, has no real technological advancements to justify its market value. As the crypto market matures, investors may shift their focus to more utility-driven cryptocurrencies. This could lead to price corrections as the market begins to reassess the value of these coins.

However, despite that, some market experts remained bullish on the long-term trajectory of the coins. For context, the phenomenal gains in the assets’ prices over the years have attracted many investors towards the segment. If the momentum continues, the coins may emerge as the leading players shrugging off the bearish trends.

Price Context and Technical Indicators for SHIB and DOGE Token

Both SHIB and DOGE were showing concerning signs in their price charts. Dogecoin price was currently trading at $0.3346, up by 2.09% in the last 24 hours. Notably, the token has experienced a notable 14% drop over the past week and 20% in the last month. With a market cap of $49 billion and trading volume of $2.62 billion.

On the other hand, Shiba Inu price was trading at $0.00002167, showing a slight 2.14% increase in the last 24 hours. However, SHIB has experienced a significant 10% drop over the past week and 24% in the last month. The current market cap for Shiba Inu was $12.93 billion, with a trading volume of $490 million.

The post Why Shiba Inu And Dogecoin Meme Coins May Crash Ahead? appeared first on coinpress.

The Shiba Inu community has burned a significant number of SHIB tokens in the last 7 days. The objective is to bring down the circulating supply to create scarcity and spike SHIB prices by leveraging the concept of demand supply. It is anticipated that prices of the second-ranked meme coin in terms of market cap will rebound in the coming days.

Shiba Inu Community Burns 87 Million SHIB

In the past week, the Shiba Inu community has burned as many as 87,175,135 SHIB tokens. This translates to 87.17 million tokens in the last 7 days with an increase of 52.74% in burn rate. The X post by Shibburn has further highlighted that the burn rate is down by 90.17% in the last 24 hours. A core objective here is to control the circulating supply of the meme coin to mark upticks in the prices. SHIB’s circulating supply now stands at 589.25 trillion.

As per an early report, Shib burn rate had declined by 72% in a single day. Thereby, triggering speculation over its impact on the price.

Effect on SHIB Price

SHIB prices, so far, have reacted positively to this development by marking an uptick of 1.33% over the last 24 hours. However, SHIB price remain significantly down by 9.52% in the last 7 days and 23.63% in the last 1 month. The 24-hour trading volume has also taken a hit of 10.29% while Open Interest has gained 31.32% of value. Overall sentiments towards SHIB are bearish with an FGI of 69 points and volatility of around 10.09%.

Removing tokens from circulating supply has worked in the past and Bitcoin is a prime example of it. BTC prices are now hovering above $90,000 months after Bitcoin Halving which happened in April 2024. Therefore, the Shiba Inu community is optimistic that the prices of its SHIB holdings will eventually navigate a way for a bull run.

What’s Next for the Shiba Inu Community?

Two factors are at play for the Shiba Inu community, namely drawing speculation for future SHIB prices and experiencing the launch of the TREAT token. SHIB prices, according to Coincodex, may grow by almost 0.52% to touch the value of $0.00002216 in the next 30 days. The nearest speculation is extremely bullish with a growth of 105.39% in the picture. It is important to note that the crypto market is highly volatile and price movements could go North or South at any moment.

Finally, the launch of the TREAT token is scheduled to happen on January 14, 2025. This has been teased as a revolutionary endeavor for the Shiba Inu ecosystem across the world.

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A crypto trader turned $458K into $4.9M in just two weeks with Swarms, an AI-powered meme coin on Solana. The investment grew nearly 10x, showcasing the rapid rise of Solana-based meme coins. Backed by SwarmShield, which offers military-grade encryption and secure communications, the AI token has gained significant attention in the crypto market. However, the swarms token dropped by 25% in the last 24 hours despite its recent surge.

Crypto Trader Makes $4.9M Profit in With Swarms Token

On January 11, Lookonchain revealed that a crypto trader turned a $458K investment into $4.9M in just two weeks by trading swarms. As per Solscan data, the trader initially bought 20 million tokens for $458K. Recently, they sold 5 million for 7,232 SOL, valued at $1.35M, while still holding 15 million tokens worth $4.02M.

Swarms powers SwarmShield, a platform providing military-grade encryption, secure communication management, and auditing for swarm-based multi-agent systems. These advanced features have driven significant interest in AI meme coins, setting them apart from other meme coins. The crypto trader’s profit highlights the growing appeal of innovative tokens combining technology with meme culture, attracting high-profile traders.

Crypto Whale Profit Reflects Growing Interest in Solana Meme Coins

The massive profit of the crypto trader highlights the growing interest in top Solana meme coins like swarms. These coins have received much attention as part of the wider boom of the Solana ecosystem. While the network grows, the increase in meme coin popularity is boosting investor sentiment and boosting Solana market trading activity.

Moreover, a crypto whale holding the AI16Z token recently started buying swarms and invested $12.8K when its market cap stood at $336M. This reflects the rising popularity of AI-powered meme coins within the Solana ecosystem. With SwarmShield’s robust capabilities and increasing market traction, this AI coin has become a standout performer, fueling interest among traders looking to capitalize on Solana’s thriving meme coin market.

A $ai16z whale just bought $12.80K of $swarms at $336.71M MC

— Whale Watch (@whalewatchalert) January 10, 2025

Solana Ecosystem and SOL Price

SOL price was trading at $186, down approximately 3% in the last 24 hours. The token’s 24-hour low and high are $183 and $193, respectively, with a market cap of $90 billion and a trading volume of $3.4 billion. The overall growth of the Solana network reflects the increasing interest in the ecosystem, including meme coins.

However, Swarms price dropped by 25% in the last 24 hours to $0.267 despite the crypto trader’s massive profit. The crypto’s market cap stood at $265 million and trading volume was $212 million. Despite this, the token has surged by 40% in the past week and 70% in the last month.

Solana meme coins are gaining traction, with exponential growth in some tokens over the past month. coinpress reported that crypto whales are making big bets on coins like WIF and POPCAT, further signaling the rise of Solana’s meme coin trend. This continued interest in meme coins within the Solana ecosystem suggests that the momentum will persist, attracting more investors and traders to the network.

The post Crypto Trader Turns $458K Into $4.9M With This Meme Coin In 2 Weeks, Here’s All appeared first on coinpress.

In the latest XRP news, the whales have caught the eyes of investors with their recent massive transactions. According to recent reports, large investors have purchased about 1 billion coins recently, highlighting their strong confidence in the crypto. Amid this, a top expert has revealed key price levels to watch for Ripple’s native crypto ahead, which has also caught the investors’ eyes.

XRP News: Ripple Whales Making Big Move

The Ripple whales are once again on their buying spree, as evidenced by the recent reports. This XRP news has further cemented bets towards a potential rally in the crypto’s price in the coming days. So, here we take a close look at the latest developments in the market.

Whales Accumulate 1 Billion Coins

In a recent X post, top market analyst Ali Martinez has shed light on the accumulation trend of the large investors or whales. According to his social media post, Ripple whales have purchased 1 billion XRP coins in only about two days, showcasing their robust interest in the coin.

Meanwhile, this development also had an impact on the crypto’s price, as evidenced by its recent performance. However, this massive accumulation trend also comes after Ripple Labs recently moved 300 million XRP to an unknown wallet, valued at around $682 million, which has fueled market speculations.

How’s XRP Price Performing?

XRP price today was up around 4% and exchanged hands at $2.39, while its trading volume rose 10% to $5.6 billion. Notably, the crypto hovered between $2.43 and $2.26 in the last 24 hours, reflecting the impact of the Ripple whales buying on the price. Further, the asset’s Futures Open Interest rose 8% to $4.6 billion, CoinGlass data showed.

Notably, here we explore the key levels to watch for the crypto, as highlighted by a top market expert.

Key Levels To Watch For Ripple’s Native Crypto

In a recent analysis shared on the X platform, prominent expert Dark Defender has shared key levels to watch soon for XRP. Besides, he also hinted towards a potential “upside break-out” for the crypto soon. According to the post, the analyst said that the key targets for XRP stand at $2.40, $2.86, $4.55, and $5.85.

Having said that, it is expected that the crypto might rally to around $6 in the coming days. For a potential move towards the south, the support levels for the crypto are at $2.23 and $2.13, the analyst noted.

In a separate X post, Dark Defender has compared XRP’s surge to Ethereum. He noted that after September 24, “XRP has appreciated three times more than Ether.” Comparing the price surges, he said that XRP will soon flip the later in the “3rd wave we are in.”

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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.

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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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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Paul Grewal, Chief Legal Officer (CLO) of Coinbase, raised concerns regarding the Federal Deposit Insurance Corporation’s (FDIC) handling of Freedom of Information Act (FOIA) requests. Grewal’s remarks came after Coinbase encountered redacted and incomplete responses from the FDIC, which raised questions about the agency’s transparency.

Coinbase CLO Paul Grewal Calls Out FDIC

In a series of posts on X, Coinbase CLO Paul Grewal has outlined concerns about the FDIC’s process in responding to FOIA requests. He claimed that the FDIC did not perform full-text searches in its Regional Automated Document Distribution (RADD) database. In addition, the agency reportedly denied the requests for documents that were stored in collaboration tools like Microsoft Teams, thus restricting the range of the disclosed data.

Coinbase CLO Paul Grewal also pointed to specific guidelines in the FDIC’s instructions that required setting some documents as deliberative or attorney-client privileged, which he argues was done to avoid sharing them. Additionally, Coinbase found that at least 150 documents that are potentially related to the case were not included in the FOIA replies provided by the FDIC. Grewal pointed out these loopholes as a cause of concern in the agency’s accountability.

The FDIC representatives answered saying,

“Considering the increase in the scope of your requests, we shall need time to deliberate on your communication and provide our response.”

Concerns About FDIC’s Use of “Pause Letters”

The controversy includes the FDIC’s use of “pause letters” sent to banks, urging them to halt services to cryptocurrency clients. Coinbase alleges these letters were later redacted heavily under FOIA Exemption 8, which protects sensitive financial regulatory matters. 

Paul Grewal claims the exemption was misused to hide information that was not initially considered confidential.

The letters allegedly focused on issues like cryptocurrency lending, stablecoins and blockchain based payment systems. Coinbase Chief Legal Officer Paul Grewal noted that such actions posed legal risks for compliant crypto businesses since banks were not provided with explanations for the restrictions.

Operation Choke Point 2.0 Allegations Resurface

This has brought back the conversation about the ‘Operation Choke Point 2.0’ which was a term used to explain the claims of regulators to deny banking services to cryptocurrency companies. The critics have ascribed the FDIC and other regulators to covertly forcing the banks to shy away from processing crypto transactions using the cover of compliance.

The letters, which were written in 2022 and 2023, showed that the FDIC instructed the banks to cease services on different cryptocurrency products but had not given further instructions afterwards. Critics have claimed that this has slowed down innovation and prevented the expansion of financial services within the crypto industry.

Similarly, some of the comments made by Coinbase CLO Paul Grewal have elicited reactions from other legal and political personalities such as Senator John E. Deaton. Deaton called for more supervision, and noted that the danger of officials discretionarily cutting off access to financial networks cannot be overlooked.

The Coinbase CLO also pointed out that the FDIC should answer clearly as the information disclosed should be made public to ensure that all industries are treated equally, including the cryptocurrency industry.

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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.

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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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As the price of Bitcoin (BTC) continues to fluctuate below the $100,000 price mark, altcoins like Ethereum (ETH), Dogecoin (DOGE), Cardano (ADA), and XRP are also in the spotlight. According to data insight from Santiment, the number of HODLers for these altcoins has fluctuated thus far this new year. The crypto analytics platform hinted at the implication of the HODLer count within each protocol’s ecosystem.

The Ethereum and XRP Standout

Santiment profiled six digital currencies, including the aforementioned Bitcoin and Chainlink. While Chainlink underperformed with 3,300 drops in hodler wallets, Ethereum and XRP stood out.

The shared data showed that Ethereum had recorded a 645,000 uptick in its hodler wallets. This figure underscores its dominance as the top altcoin among retail investors. XRP followed closely with a total hodler wallet recording a 58,000 count since the start of the year.

Ranking as the only meme cryptocurrency profiled by Santiment, Dogecoin has seen a 29,000 jump in investors holding it for the long term. Cardano scored the lowest figure, with just 2,800 wallets committing to long-term growth.

As 2025 has kicked off with roller coastering prices for crypto’s top assets, the amount of hodlers have fluctuated wildly since the new year:

Bitcoin $BTC: +102K Wallets
Ethereum $ETH: +645K Wallets
XRP Ledger $XRP: +58K Wallets
Cardano $ADA: +2.8K Wallets… pic.twitter.com/W07x43GgW4

— Santiment (@santimentfeed) January 10, 2025

It is worth noting that the term ‘HODLer’ denotes token holders with plans to hold their assets in the long term.  As the data provider hinted, when the hodler count grows, investors or the community will be comfortable with the project. This can aid ecosystem stability and long-term token growth. 

The opposite is true when the hodler count drops as investors focus on Fear, Uncertainty, and Doubt (FUD).

Ecosystem Projects and Dogecoin Advantage

Despite the ongoing bull cycle, fluctuations have shown how volatile and uncertain the market is. As reported earlier by coinpress, ETH price lost 9% of its value in under 24 hours, a trend visible in other altcoins.

Amid this uncertainty, investors focus on crypto developer activity, and other utilities focus beyond price. While Ethereum developers are working on the Pectra Upgrade, Ripple Labs launched RLUSD stablecoin to boost XRP liquidity.

Input Output Global developers are also working on perfecting the Cardano community governance. In all, Dogecoin might take more of the spotlight in the altcoin market in the long term.

This is based on the Elon Musk-led Department of Government Efficiency (D.O.G.E), which might fuel DOGE popularity. These ecosystem trends might explain why more users are betting on the altcoin’s long-term prospects.

ETH and DOGE Predictions for 2025

Amid the fluctuations of the past few weeks, experts believe the altcoin season is still ahead. Galaxy Research said the DOGE price will top $1 this year in its projections. The Mike Novogratz-associated firm tied this forecast to the D.O.G.E ties around the coin.

Top experts also believe this year holds something big for Ethereum. Bitwise predicted that Ethereum would hit a new all-time high this year, and the asset manager said it is possible for Ethereum to reach $7,000 by the end of the year.

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Crypto analyst Ali Martinez has provided a bullish outlook for the Cardano price. The analyst predicted that ADA could rebound to $1 following a potential price breakout.

Cardano Price Could Rebound To $1 As Bull Pennant Appears

In an X post, Ali Martinez stated that the Cardano price could break out from a bull pennant on lower time frames, signaling a potential surge to $1. This is a price level that ADA corrected from the marketwide sell-off, which began earlier this week.

The analyst had previously revealed how Whales sold over 70 million coins between January 6 and 8, which put significant selling pressure on the ADA price. However, based on Martinez’s recent analysis, Cardano could soon witness a bullish reversal.

Crypto analyst Sebastian also predicted that a rebound may be imminent for the Cardano price. The analyst revealed a possible inverse head-and-shoulder that was forming on the hourly ADA chart.

The crypto analyst also noted that the Bitcoin price is bouncing nicely, and ADA is following. He added that the pump after this dip would be epic and that the dip would be forgotten in a week from now.

ADA Holders Are On The Rise

In an X post, on-chain analytics platform Santiment revealed that ADA holders are on the rise, which provides a bullish outlook for the Cardano price. According to the platform, the number of Cardano wallets has increased by 2,800. This represents a 0.1% increase in holders since the start of 2025.

Santiment noted that if wallets are rising fast, the community is confident in the project for the long term. A recent ADA technical analysis showed that the Cardano price boasts more bullish than bearish indicators, which explains why investors could be bullish on the coin for the long term.

However, in the short term, ADA and the broader crypto market are undoubtedly still at risk of a significant price correction, especially following the release of the nonfarm payrolls report, which reduced optimism of a Fed rate cut in the first half of this year.

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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 Dogecoin whales have made headlines with a massive selloff recently, which has sparked market concerns. Notably, two whales have collectively sold over 219 million DOGE to a leading crypto exchange, with experts keeping close track of the development’s impact on price. Besides, the dump also comes a day after Elon Musk backtracked from his expectations of cutting US Federal spending with the Department of Government Efficiency (D.O.G.E.).

Dogecoin Whales Dump 219 million DOGE

The recent dump by the Dogecoin whales has caught the eyes of investors, with many speculating the move to significantly impact the DOGE price ahead. According to Whale Alert data, the large investors have dumped 219 million DOGE, worth around $74 million. This has fueled discussions in the broader meme coin community.

Detailed Look Into The Whales Move

According to Whale Alert, an investor, identified by the wallet address “D7fXy…4QLW3” has moved 106.43 million DOGE, valued at around $35.88 million, to the Coinbase exchange. Following that, another trader conducted a similar move. In a separate transaction, the whale with wallet address “D8hi4..RsF1j” moved 112.62 million coins, worth around $37.99 million, to the same leading crypto exchange.

Notably, these selloffs came as the Dogecoin price recorded a slight recovery today after volatile trading this week. Notably, most of the top meme coins, alongside other assets, have recorded massive volatility this week. However, these recent dump indicates a waning risk-bet appetite of the investors towards these assets. Simultaneously, it also comes as Elon Musk has lowered his expectations with the Department of Government Efficiency (D.O.G.E.).

Elon Musk Lowers D.O.G.E. Expectations

Elon Musk has downgraded his initial estimate of cutting $2 trillion from the federal budget as co-head of the Department of Government Efficiency (DOGE). In a recent interview with Mark Penn, Musk stated that the $2 trillion figure was a “best-case outcome” and that he now thinks cutting half that amount is a more realistic goal.

In other words, Musk’s revised estimate is a significant departure from his earlier claim of slashing “at least $2 trillion” in government spending during a Trump rally in October. This reversal has sparked concerns in the crypto community, particularly among Dogecoin investors, given Musk’s previous support for the meme coin. Besides, the department’s acronym also resembles the Dogecoin ticker, which has further added to the discussions recently.

So, it appears that these statements of Musk could have impacted the market sentiment and acted as a catalyst for the recent dump. However, there are several other factors that may have caused the recent Dogecoin whale dumps.

How’s Dogecoin Price Performing?

DOGE price today declined almost 2% and exchanged hands at around $0.33, while its trading volume fell almost 15% to $3.62 billion. This price decline has occurred partly due to the bearish sentiment in the broader crypto following the release of a strong US job data and reduced expectations of a Fed rate cut this year.

Notably, the crypto has touched a 24-hour high and low of $0.3385 and $0.3151, respectively. However, despite the surge, CoinGlass data showed that the top dog-themed meme coin’s Futures Open Interest fell 1.5%, reflecting a bearish sentiment in the market.

Meanwhile, a recent DOGE price analysis indicates that the crypto could soon target the $0.35 mark. Besides, the leading crypto asset management firm, Grayscale has recently considered DOGE, HBAR, and others, as the crypto assets under consideration for future investment products. This has further bolstered market sentiment, offsetting the recent Dogecoin whale dump concerns.

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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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