Weekly Economic Calendar:
| Date | Time | Currency | Event | Expectation | Previous Data |
|---|---|---|---|---|---|
| January 20, Monday | USD | U.S. holiday for Martin Luther King Jr. Day | |||
| January 20, Monday – January 24, Friday | Davos Summit Begins | ||||
| January 20, Monday | USD | U.S. President-Elect Trump assumes the presidency | |||
| January 20, Monday | BTC | SEC Chairman Gary Gensler steps down, replaced by Paul Atkins | |||
| January 22, Wednesday | 17:00 | SOL | Token Unlock | ||
| January 23, Thursday | 14:00 | TRY | CBRT Interest Rate Decision | 45% | 47.5% |
| January 23, Thursday | SOL | Final decision day for Grayscale Solana ETF | |||
| January 24, Friday | SOL | Final decision day for Solana ETFs by VanEck, 21Shares, Canary, and Bitwise |
Bitcoin Hits a New Peak
Melania Trump made waves in the cryptocurrency sector by launching her meme coin, MELANIA, just days after her husband introduced the TRUMP token. Following this development, Bitcoin briefly dropped below $100,000. However, strong buyers quickly stepped in, enabling the bulls to regain control, and Bitcoin swiftly recovered all its losses, surging to $109,000. This new high surpassed the previous record set in December. The rapid increase in Bitcoin’s price pushed its total market capitalization above $2.1 trillion, making it the seventh-largest asset in the world.
“Trump Effect”: Bitcoin and Stock Market Records
The 45th President of the United States, Donald Trump, referred to the rapid rise in the stock market and Bitcoin prices as the “Trump Effect” during his pre-inauguration remarks. Highlighting the economic optimism following his election victory, Trump stated, “Since winning the presidential election, stock market values have soared. Small business optimism has reached a 39-year high. Additionally, Bitcoin has been breaking record after record, making history.”
U.S. States Consider Bitcoin Reserves
The idea of creating Bitcoin reserves is gaining traction in various U.S. states. Wyoming and Massachusetts have joined the ranks of states proposing new legislation to allocate a portion of public funds to Bitcoin investments.
Davos Summit Begins
The 55th Annual Meeting of the World Economic Forum (WEF) will take place in Davos, Switzerland, from January 20-24, 2025, under the theme “Collaboration for a Smart Age.” This year’s event will host approximately 3,000 leaders from over 130 countries, including more than 60 heads of state and government, 350 government officials, business leaders, academics, and representatives of civil society organizations.
This year’s summit coincides with U.S. President Donald Trump’s second inauguration. Trump will participate virtually in the Davos Summit to share the priorities of his new administration.
Major Ethereum Purchases by World Liberty
World Liberty, a prominent name in the crypto world, has drawn significant attention with its accelerated Ethereum (ETH) acquisitions, sparking substantial market activity. These transactions, occurring just one day before Trump assumed office, have reignited interest in Ethereum.
Million-Dollar Transactions
According to on-chain data from Arkham, on January 19, World Liberty’s wallet purchased 6,041 ETH for $20 million USDC when Ethereum was priced at $3,311. The next day, January 20, the company continued its aggressive buying spree, acquiring 14,403 ETH for $48 million USDC within a 12-hour period as Ethereum’s price rose to $3,333.
World Liberty’s Growing Ethereum Portfolio
As a result of these large-scale purchases, World Liberty’s wallet now holds a total of 39,000 ETH, valued at approximately $135 million.
Rising Expectations in the Market
World Liberty’s strategic moves have generated positive sentiment among investors about Ethereum’s future. The long-term market impact of these significant acquisitions is being closely watched.
A New Era for Ethereum?
World Liberty’s large-scale purchases have boosted confidence in Ethereum’s long-term potential, leaving market participants speculating about the strategy behind these moves.
SOL:
A $1 billion token unlock for Solana (SOL) is set to take place on Friday. This amount represents 13% of the coin’s total supply, marking the second-largest token release in Solana’s history. Investors, particularly those with ongoing transactions, should closely monitor Friday as a critical day.
BTC:
Bitcoin Analysis by ITB
An overview of ITB’s analysis of Bitcoin reveals:
- 100% of Bitcoin holders are currently in profit based on the market price.
- Whale transaction volumes have surged to $154.52 billion, signaling increased activity among large investors.
- ITB’s forecast shows “2 neutral,” “3 bullish,” and “0 bearish” market expectations for Bitcoin.
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