Bitcoin has done it. Again! The OG crypto that refuses to stay quiet shot back up to $100,000 today, shaking off the doubters and flipping the tables on every short seller betting against it.
Ethereum wasn’t far behind, surging to $3,450 with a tidy 3.5% bump in just 24 hours. If you blinked, you missed $309 million in liquidations across the crypto market, with $208 million of that coming from crushed short positions.
Bitcoin’s price is moving in step with tech-heavy stocks, but not completely locked in.
President-elect Donald Trump is about to take the wheel, with his swearing-in set for January 20. Everyone’s holding their breath.
His promises to make the U.S. the global crypto capital have sparked wild speculation, but so have his potential tariff and immigration policies, which could fuel inflation fears and possibly crash our markets.
“The overall sensitivity to interest rates over the past month suggests increased importance of Wednesday’s CPI print,” said K33 Research. They added that the days leading up to the inauguration could bring a surge in Bitcoin trading activity driven by Trump-induced market momentum.
Meanwhile, bond yields and the dollar are flexing. The 10-year Treasury note yield has jumped by 115 basis points since September 18, defying a 40-year trend. Typically, yields drop after rate cuts. Not this time. In fact, the Fed and the market seem to be dancing to completely different tunes.
The Federal Reserve’s January 29 meeting is the next big question mark.
Will their decisions add fuel to Bitcoin’s fire, or will the Fed’s actions pour cold water on it? As things stand, the market is moving in the opposite direction of the Fed—a wild setup no one’s seen in decades. So buckle up.
Meanwhile, Ripple’s XRP has won over crypto and is now taking over traditional finance firms. According to on-chain data, XRP has overtaken BlackRock, the world’s largest asset manager, in market capitalization.
As of January 15, 2025, XRP’s market cap sits at $162 billion, surpassing BlackRock’s $154 billion. This market milestone also places it ahead of globally recognized brands like Coca-Cola, Disney, and Nike.
Crypto coins have set off on a Trump rally ahead of his inauguration on January 20, 2025. Ripple’s market cap now appears to be a beneficiary of the surge in price.
On-chain data shows the coin has hit $2.8 for the first time since December 17, 2024. In the last 24 hours, XRP has recorded a 9% spike, while its weekly and monthly growth sits at 21.54% and 18.67%, respectively.
XRP’s price has risen from a low of around $2 to nearly $2.9 in the past two weeks. The asset’s market cap has also increased to approximately $31.6 billion.
Presently, wallets holding 1M to 10M XRP have increased their holdings by over 37% in the past two months.
This represents an addition of approximately $3.8 billion in XRP since their accumulation began on November 12, 2024.
XRP’s market behavior shows a bullish structure on lower timeframes, characterized by higher highs and low lows.
In addition, strong buying activity near the 0.5-0.618 Fibonacci retracement levels has contributed to its recent upward price spikes.
However, despite the steady Trump rally, the coin sees poor trading levels between $2 and $3. Now, analysts are emphasizing the need for a breakout to confirm a new trend.
A price move toward $3 could further validate a continuation of the bullish trend traders have seen since November. Without such a breakout, analysts expect a consolidation within the current range to remain at a standstill.