FameEX Weekly Market Trend | January 16, 2025
2025-01-16 10:29:35
1. BTC Market Trend
From January 13 to January 15, the BTC spot price swung from $89,344.51 to $100,658.7, a 12.66% range.
In the past three days, the Federal Reserve (Fed) and the European Central Bank (ECB) have made the following important statements:
1) On January 15, Fed’s Schmid said that if Trump's tariffs cause inflation or employment to deviate from the expected path, the Fed will take action.
2) On January 14, ECB Governing Council Member Rehn indicated that Interest rates would exit restrictive territory in the coming months, at the latest by “midsummer”.
3) On January 14, ECB Governing Council Member Vujcic stated that the ECB is unlikely to accelerate the pace of rate cuts.
4) On January 15, ECB Chief Economist Lane expected a stronger recovery this year, along with another round of inflation easing.
Tether announced it is nearing completion of its Digital Asset Service Provider (DASP) and stablecoin issuance license applications in El Salvador and will relocate its group headquarters there. CEO Paolo Ardoino stated the move would strengthen Tether’s presence in emerging markets and leverage El Salvador’s innovation-friendly regulatory environment to advance global Bitcoin adoption.
Tether, the issuer and operator of USDT, achieved a net profit of $10 billion by the end of 2024. Several Tether executives have already purchased properties and acquired citizenship in El Salvador.
User @0xDiyaaa shared a security incident involving the Telegram Safeguard scam, emphasizing the need for heightened vigilance at the start of the year. The user clicked a fake CAPTCHA verification link in a social media comment, triggering malicious commands that put their assets at risk. Fortunately, they had a handwritten backup of their seed phrase, allowing for timely asset transfer and system wipe, preventing further damage.
Additionally, SlowMist founder Yu Xian warned that the scam has extended to Mac users. Malicious codes can be injected into the clipboard through specific Telegram instructions, potentially leading to severe security consequences. Therefore, avoid clicking unknown links, especially in social media comment sections, and keep a secure backup of your seed phrase for emergencies.
On January 15, CoinGecko published its 2024 annual crypto industry report, summarizing seven key highlights:
1) Total crypto market cap surged 45.7% in Q4, reaching $3.91 trillion by the quarter's end, a 97.7% YoY growth.
2) Bitcoin’s dominance grew further, representing 53.6% of the total market cap.
3) Bitcoin outperformed major asset classes throughout 2024.
4) AI Agent tokens’ market cap skyrocketed 322.2% in Q4, from $4.8 billion to $15.4 billion.
5) Ethereum’s top 10 Layer 2 solutions saw a 48.3% increase in trading volume, with the Base network accounting for 48.3%.
6) Q4 centralized exchange spot trading volume hit a record $6.45 trillion, a 111.7% QoQ increase.
7) Solana overtook Ethereum as the leading chain for DEX trading in Q4, handling over 30% of all DEX transactions.
From January 13 to January 15, keep monitoring ETH spot trading opportunities. The sell order at $5,125, along with the buy orders at $2,040 and $1,730, should remain active. For the BTC spot, maintain the sell order at $169,400 and the buy orders at $73,970, $59,935, and $45,900.
2. CMC 7D Statistics Indicators
Overall market cap and volume, source: https://coinmarketcap.com/charts/
Altcoin Season Index and Bitcoin Dominance: https://coinmarketcap.com/charts/
Crypto ETFs Net Flow: https://coinmarketcap.com/charts/
CoinMarketCap 100 Index: https://coinmarketcap.com/charts/cmc100/
(Used to measure the overall performance of the top 100 cryptocurrency projects by market capitalization on CoinMarketCap)
Fear & Greed Index, source: https://coinmarketcap.com/charts/
3. Perpetual Futures
The 7-day cumulative funding rates for major exchanges’ mainstream cryptocurrencies are generally positive.
In the past three days, BTC contract open interest has remained stable, while ETH contract open interest has slightly decreased.
Exchange BTC Contract Open Interest:
Exchange ETH Contract Open Interest:
Note: All the above information is provided for reference purposes only and should not be construed as specific investment advice.
4. Industry Roundup
1) On January 13, Trump may issue an executive order on his first day in office concerning crypto banking and controversial crypto accounting policies. He plans to appoint 24 crypto industry CEOs and founders to form a crypto advisory board.
2) On January 13, South Korea planned to introduce a new crypto bill in the second half of 2025.
3) On January 13, the former Thai PM Thaksin suggested Thailand could offer a stablecoin backed by government bonds, while El Salvador’s president plans to install a Bitcoin node in every household.
4) On January 13, Santander Bank reported a 22% year-on-year increase in foreign tourists to El Salvador in 2024, driven by Bitcoin adoption.
5) On January 13, U.S. regulators proposed stricter consumer protections for crypto accounts, holding firms accountable for hacking losses.
6) On January 13, Indian exchange Mudrex temporarily halted crypto withdrawals, which are expected to resume by January 28.
7) On January 13, CryptoQuant CEO: Bitcoin’s value relies on consensus, which quantum computing cannot break.
8) On January 13, Ethereum Foundation researcher Alex Stokes announced as co-head with barnabe.eth. The foundation launched a new official X account for key updates.
9) On January 14, the Bank of Japan Deputy Governor Himino Ryozo hinted at potential rate hikes if economic forecasts materialize, with a decision expected next week.
10) On January 14, it was reported that the NYDFS and the Bank of England will launch a crypto expertise exchange program. The NY Fed’s 1-year inflation expectation stands at 3%.
11) On January 14, a report showed a 100%+ surge in OTC crypto trading in 2024, driven by Trump’s election prospects and institutional demand.
12) On January 14, Dubai’s Sigma Capital launched a $100M fund for Web3 startups.
13) On January 14, Greenland’s autonomous government planned to set conditions for stronger U.S. defense and mining ties, emphasizing Greenland is not for sale.
14) On January 14, The People’s Bank of China reported a cumulative social financing increase of ¥32.26 trillion in 2024, down ¥3.32 trillion YoY. December M2 growth was 7.3%. Vice Governor Xuan Changneng aims to reduce banks’ overall debt costs this year.
15) On January 14, the former Fed Vice Chair indicated that tariffs could lead to Fed rate cuts.
16) On January 14, according to BlackRock, Bitcoin and crypto adoption is outpacing both the internet and mobile phones.
17) On January 15, the U.S. CFTC planned to review the legality of Crypto.com’s sports event betting, including the Super Bowl.
18) On January 15, the U.S. December PPI showed a month-on-month increase of 0.2%, below the expected 0.3% and down from the previous 0.4%. The year-on-year PPI rose 3.3%, slightly below the forecast of 3.4% but higher than the previous 3.0%.
19) On January 15, Sony’s L2 blockchain Soneium went live on the mainnet. Mosaic Exchange and its CEO were fined nearly $1.2M by the CFTC.
20) On January 15, the UK December CPI showed a month-on-month increase of 0.3%, below the expected 0.4% but higher than the previous 0.1%.
21) On January 15, the IMF urged Kenya to align crypto regulations with international standards.
22) On January 15, Q4 2024 crypto sector funding reached $4B, with infrastructure leading investments.
23) On January 15, the Bank of Japan Governor Ueda indicated that interest rates may rise if the economy and inflation continue improving. Japan’s LDP Web3 group held a meeting on crypto regulation.
24) On January 15, the Bank of England stated that no decision had been made regarding the advancement of a digital pound. After completing the design phase in the coming years, it will assess the policy case for the digital pound and decide whether to proceed further.
25) On January 15, the U.S. SEC Chair stated that Bitcoin is highly speculative but globally traded. He denied the SEC ever declaring Bitcoin or Ethereum as securities.
Disclaimer: FameEX makes no representations on the accuracy or suitability of any official statements made by the exchange regarding the data in this area or any related financial advice.