Cryptocurrency analyst Ali Martinez evaluated Bitcoin, Dogecoin and Solana in his statement. Speaking about Bitcoin, the analyst notes that Bitcoin market peaks have historically occurred simultaneously with realized profits. Martinez said that more than $3 billion in profits were realized in December alone, raising concerns about a market peak. In addition, he stated that similar selling pressure came from BTC miners. According to the analyst, in mid-January, miners sold approximately 20,000 BTC worth $2 billion. Related News: Another Approval for Bitcoin (BTC) from the Central Bank of the Czech Republic - Could ECB President Lagarde's Statements Stop the Czech Republic? Martinez said there are also signs of long-term wallets in Bitcoin. According to the analyst, the amount of BTC held in long-term wallets decreased by 75,000 in the past week. Considering these factors, the analyst thinks that the BTC price should remain above $91,700. If it falls below this level, he claimed that the BTC price could drop below $74,000. Evaluating Dogecoin, the analyst argued that the DOGE price has broken out of a symmetrical triangle formation and may be targeting $0.36. On the Solana side, he stated that the SOL price is consolidating in a range and expressed his opinion that in case of a drop below $ 242.5, a drop to $ 232 is possible. *This is not investment advice. Continue Reading: Prominent Analyst Evaluates Bitcoin, Dogecoin and Solana Price! Here’s What He Said
Bitcoin is moving with macro conditions. If U.S. labor data signals weakness, the Fed may step in—potentially pushing Bitcoin higher. Bitcoin’s ( BTC ) next move could hinge on upcoming U.S. labor market data, as macro conditions continue to shape liquidity and risk sentiment. Quantitative analyst Benjamin Cowen suggests the unemployment rate will be a key factor, predicting that if it stays within the 4.1%-4.2% range, Bitcoin could follow last year’s path and rally into February and March. However, a rate that is too high or too low could create uncertainty, affecting bond yields, Federal Reserve policy expectations, and ultimately, Bitcoin’s price action. I think decision time for #BTC will be next week, following the release of the labor market data. If the unemployment rate is 4.1% or 4.2%, then there is a higher probability IMO that #BTC will follow blueprint from last year and go higher in Feb/Mar. If the unemployment rate… pic.twitter.com/eu2ixFHj7d — Benjamin Cowen (@intocryptoverse) January 31, 2025 The latest labor market report, released on Jan. 10, showed the U.S. unemployment rate dipped slightly to 4.1% in December from 4.2% in November. Job growth significantly outpaced expectations, with 256,000 jobs added compared to the forecasted 153,000. A strong labor market typically reduces the urgency for the Fed’s rate cuts, which can weigh on Bitcoin, as higher rates tighten financial conditions. You might also like: ‘Rich Dad’ author Kiyosaki predicts Bitcoin will challenge US dollar dominance Recent jobless claims add to the evolving picture. Initial unemployment claims for the week ending Jan. 25 dropped to 207,000, below the projected 220,000. While layoffs remain historically low, hiring has slowed, signaling that the labor market might be cooling. If next week’s report confirms this trend, it could raise expectations for monetary easing—typically favorable for risk assets like Bitcoin. Amid this, the Fed, following a total of 100 basis points in rate cuts since September, acknowledged that inflation remains somewhat elevated but opted to keep its benchmark interest rate at 4.25%-4.50% during its Jan. 29 policy meeting. Political pressure has also entered the picture, with former President Donald Trump criticizing the Fed for not acting more aggressively. Trump has pushed for policies promoting domestic energy expansion and deregulation, while blaming high inflation on what he calls the central bank’s misplaced focus on social and environmental issues. You might also like: Day after Trump calls DeepSeek as positive, US officials u-turn and classify it as IP theft Meanwhile, Treasury yields have declined , with the 10-year yield slipping to 4.526% and the 2-year yield to 4.213%, following weaker-than-expected Q4 GDP growth of 2.3%—below the 2.5% forecast. Lower yields generally benefit Bitcoin by easing financial conditions and reducing competition from traditional assets. However, a stronger-than-expected jobs report could push yields higher, strengthening the dollar and making risk assets less attractive. Bitcoin, trading at $104,000 as of this writing, sits at a critical juncture. If the labor market remains stable but shows signs of cooling, it could provide the ideal backdrop for a rally, mirroring last year’s trend. However, a sharp deviation in either direction could introduce volatility. You might also like: Bitcoin didn’t save Tesla — It just delayed the bigger problem
On January 31st, COINOTAG News reported significant movements from a prominent Ethereum whale, identified by the handle @ai_9684xtpa. This individual has demonstrated an impressive 85% success rate in swing trading
On-chain data shows the Bitcoin long-term holders have shed a significant amount of the cryptocurrency from their holdings recently. Bitcoin Long-Term Holders Have Been Realizing Notable Profits Recently In its latest weekly report, the on-chain analytics firm Glassnode has discussed about how supply has shifted between BTC short-term holders and long-term holders recently. The “short-term holders” (STHs) and “long-term holders” (LTHs) here refer to the two main divisions of the Bitcoin market done on the basis of holding time. The investors who bought their coins within the past 155 days fall in the former cohort, while those who have been holding for longer than this period are put in the latter one. Statistically, the longer an investor holds onto their coins, the less likely they become to sell said coins at any point. Thus, the STHs can be considered to include the weak hands of the market, while the LTHs represent the resolute entities. Related Reading: Bitcoin MPI Crossover Could Suggest Bull Run Still On Now, here is the chart for the supplies of the two groups shared by the analytics firm in the report: As displayed in the above graph, the Bitcoin LTHs have participated in a selloff recently, as their total holdings have decreased by around 1.1 million BTC. This suggests the price explosion beyond $100,000 has been too good for even these diamond hands to sit out on. In a post on X, Glassnode has shared the data of how the ratio between the profit and loss locked in by the LTHs has compared has recently. From the graph, it’s visible that the Bitcoin LTHs have seen a much more massive profit-taking volume than loss-taking one recently. This trend was also witnessed in each of the past bull runs. The pattern isn’t surprising, as the LTHs tend to amass such a huge amount of gains through their patience that by the time the bull run rolls around, they are ready to harvest big numbers. Naturally, as the latest selling from the LTHs has occurred, the STH supply has increased by the same amount. Whenever the LTHs sell, some new buyer comes in to take their coins. During bull markets, a high amount of fresh demand tends to flow in that absorbs the profit-taking from the LTHs. So long as the balance in the market maintains, the rally continues. Once the demand runs out, however, the price reaches a top. Related Reading: Ethereum MVRV Forms Signal That Last Led To 40% Price Crash It now remains to be seen how long the Bitcoin market can continue to absorb the aggressive profit-taking spree from the HODLers. BTC Price At the time of writing, Bitcoin is trading around $105,100, up more than 2% over the last week. Featured image from Dall-E, Glassnode.com, chart from TradingView.com
Bitcoin prices hold steady just below record levels, with market optimism intact. Gold reaches all-time highs, influenced by market dynamics and inflation concerns. Continue Reading: Bitcoin and Gold Prices Surge, Creating Opportunities and Risks The post Bitcoin and Gold Prices Surge, Creating Opportunities and Risks appeared first on COINTURK NEWS .
US state of Arkansas has voted against a bill that mandates banning cryptocurrency mining near five military facilities.…
Lagarde’s comments were made despite the growing discussions on Bitcoin adoption around the world, and particularly in the US. Meanwhile, Norway’s sovereign wealth fund increased its indirect Bitcoin exposure, while El Salvador continues accumulating Bitcoin despite amending its laws to align with IMF conditions. Additionally, Grayscale launched a Bitcoin Miners ETF that gives investors indirect exposure to the mining sector. European Central Bank Stands Firm Against Bitcoin in Reserve Strategies Christine Lagarde, President of the European Central Bank (ECB), dismissed the possibility of Bitcoin (BTC) being included in central bank reserves as there is a need for liquidity, security, and safety in reserve assets. Her comments were made after Czech National Bank Governor Aleš Michl suggested the institution explore Bitcoin as part of its diversification strategy. However, the Czech central bank’s board did not explicitly mention Bitcoin in its plans. Lagarde’s statement is one of the first clear rejections from the ECB regarding Bitcoin as a reserve asset, especially at a time of growing discussions around digital asset stockpiling. The comments also follow US President Donald Trump’s executive order to establish a working group for exploring regulations on a national digital asset reserve. At least one ECB member has advocated for exploring a digital euro in response to the Trump administration’s openness toward crypto. The push for Bitcoin adoption as a reserve asset gained a lot of traction globally. This is particularly true in the United States, where lawmakers from states like Texas , Utah, Illinois, Wyoming, and Arizona introduced legislative proposals for Bitcoin stockpiling. These initiatives were inspired by the advocacy group Satoshi Action Fund, which championed the idea of Bitcoin as a financial hedge. Meanwhile, Coinbase CEO Brian Armstrong also urged global policymakers to consider BTC reserves as protection against inflation. Christine Lagarde at the European Council El Salvador is still the best example of a nation that is actively accumulating Bitcoin for its national reserves. The country’s approach has set a precedent, though many central banks are still a bit hesitant to follow suit. Despite these discussions on Bitcoin as a reserve asset, its price has been rather volatile recently. At press time, BTC was trading hands at $104,203.66 after its price slipped by 0.36% over the past 24 hours. Norway’s Sovereign Wealth Fund Expands Bitcoin Exposure It has become very clear that not everyone necessarily agrees with Lagarde’s thoughts on Bitcoin. Norway’s sovereign wealth fund that is managed by Norges Bank Investment Management, recently increased its indirect exposure to Bitcoin through investments in crypto-friendly companies. NBIM’s exposure to Bitcoin (Source: K33 Research ) According to K33 Research , the fund’s exposure to Bitcoin reached 3,821 BTC, which is valued at $356 million by the end of 2024. This is an annual increase of 153%. It seems like the exposure is attributed to rule-based sector weighting rather than a deliberate strategy to prioritize Bitcoin. The sovereign wealth fund holds a $500 million stake in MicroStrategy, along with investments in crypto exchange Coinbase and Bitcoin mining companies like Mara Holdings and Riot Platforms. The Government Pension Fund Global, as it is officially known, reported record profits of $222 billion in 2024, which was its second consecutive year of impressive gains. The fund’s CEO, Nicolai Tangen, credited most of this success to large returns from the technology sector. The increasing presence of publicly traded crypto companies and the launch of spot Bitcoin exchange-traded funds (ETFs) have made it much easier for institutions to gain both direct and indirect exposure to digital assets. In the United States, spot Bitcoin ETFs accumulated more than $124 billion in net assets in just their first year of trading. As regulatory frameworks become clearer, many analysts believe institutional adoption of Bitcoin will expand even more. A pro-crypto policy shift in the United States is already influencing global markets as there is a very clear growing interest in digital assets seen in Europe and beyond. Swiss crypto bank Sygnum recently surveyed 400 institutional investors across 27 countries and found that 57% plan to increase their exposure to crypto assets. This suggests that institutional adoption of Bitcoin and other digital assets is likely to accelerate as financial markets grow and evolve. Sygnum Bank survey key findings (Source: Sygnum ) El Salvador Amends Bitcoin Law to Meet IMF Terms El Salvador’s Congress recently quickly approved legislation amending its Bitcoin laws to comply with terms set by the International Monetary Fund as part of a $1.4 billion loan agreement . The bill was passed just minutes after President Nayib Bukele sent it to the Legislative Assembly, securing 55 votes in favor and only two against. The amendment scales back the government’s Bitcoin involvement and makes its acceptance optional for businesses, unlike the previous legal requirement. Ruling party lawmaker Elisa Rosales stated that the reform ensures Bitcoin’s permanence as legal tender while making its implementation a lot more practical. Despite the amendment and Lagarge’s recent comments, El Salvador continues to expand its Bitcoin holdings, and recently purchased an additional 11 BTC. The country’s Bitcoin Office confirmed its plans to keep accumulating Bitcoin, which could intensify in 2025. El Salvador’s Bitcoin reserves currently stand at 6,049 BTC, which is valued at approximately $633 million, with an overall profit of 127% based on an average purchase price of $46,000 per Bitcoin. Meanwhile, former US Senator Bob Menendez, who was a very vocal critic of El Salvador’s Bitcoin policy, was sentenced to 11 years in prison for accepting bribes in gold and cash. An FBI search of his home uncovered $480,000 in cash and gold bars worth an estimated $150,000. Grayscale Launches Bitcoin Miners ETF Grayscale also recently expanded its crypto investment offerings with the launch of the Grayscale Bitcoin Miners ETF (MNRS) , which provides exposure to Bitcoin mining companies and the broader mining ecosystem. The fund was announced on Jan. 30, and it invests in firms listed in the Indxx Bitcoin Miners Index , which tracks companies primarily generating revenue from Bitcoin mining, mining-related hardware, software, and services. MNRS does not invest in digital assets directly or through derivatives but may have indirect exposure due to its holdings. Grayscale believes in the fundamental role of Bitcoin miners in maintaining the security, integrity, and functionality of the Bitcoin network. The company pointed out that Bitcoin mining firms present an alternative for investors who may not have direct access to Bitcoin or prefer a different way to get some exposure to the market. According to David LaValle, Grayscale’s global head of ETFs, Bitcoin miners are positioned for huge growth as adoption increases, making MNRS a very attractive option for a broad range of investors. MNRS details (Source: Grayscale ) The launch of the ETF happened as Bitcoin mining stocks have faced challenges despite Bitcoin’s 100+% gains in 2024. While Grayscale pointed to the correlation between Bitcoin’s price and mining companies, data from the Hashrate Index and Google Finance shows that most publicly traded mining firms struggled to capitalize on the rally. In fact, some stocks saw declines of up to 84%. However, the downturn in mining stocks in late January followed a broader market drop linked to the frenzy surrounding DeepSeek’s new AI model. Despite recent challenges, Grayscale’s Bitcoin Miners ETF is part of the continued push to expand investment options in the crypto sector to offer investors a structured and rules-based way to gain exposure to the mining industry.
Around 80,000 Bitcoin options contracts will expire on Friday, Jan. 30, and they have a notional value of roughly $8.36 billion. This week’s expiry event is a large one because it is the end of the month. However, crypto derivatives expiry events such as this rarely influence spot markets, which have remained relatively flat this week. Bitcoin Options Expiry This week’s batch of Bitcoin options contracts has a put/call ratio of 0.68, which means that there are more call (long) contracts expiring than puts (shorts). Moreover, open interest (OI), or the value or number of BTC options contracts yet to expire, is highest at the $120,000 strike price, which is $2.4 billion, according to Deribit. There is also around $1.65 billion in OI at the $110,000 strike price, as derivatives traders continue to speculate that BTC prices will rise from current levels. Earlier this week, crypto derivatives provider Greeks Live said the “longer-term outlook remains constructive with expectations of continued upward momentum.” Meanwhile, Deribit reported that Bitcoin’s brief drop below $100,000 this week caused changes in the derivatives market. Short-term traders were buying more put options than usual, but longer-term traders remained optimistic, favoring call options, it stated. Bitcoin OI by expiry. Source: Deribit Around 600,000 Ethereum contracts are also expiring in addition to today’s tranche of Bitcoin options. These have a notional value of $1.95 billion and a put/call ratio of 0.43. This brings Friday’s combined crypto options expiry notional value to around $10.3 billion. Crypto Market Outlook Total market capitalization has fallen just over 1% on the day to $3.68 trillion, where it was at the same time last week. Bitcoin reached $106,000 in an intraday high on Thursday but started to retreat during the Friday morning Asian trading session, falling to $104,300 at the time of writing. It has recovered from a Monday dip into the five-figure territory but failed to gain further momentum this week. Ethereum remains weak, having failed to reach $3,300 and trading at just over $3,200 at the time of writing. The altcoins were generally mixed with minor gains and losses on Friday morning. Stellar (XLM), Sui (SUI), and Litecoin (LTC) were doing a little better than the rest. Analysts have observed that February is usually much better for crypto price action than January, so things could be about to heat up. The post How Will Markets React as $10B in Crypto Options Expire Today? appeared first on CryptoPotato .
Grayscale, a leading name in the cryptocurrency asset management sphere, has introduced its newest investment product aimed at providing exposure to the Bitcoin mining ecosystem. Known as the Grayscale Bitcoin Miners ETF (MNRS), this exchange-traded fund is specifically designed to offer investors access to companies deeply involved in the Bitcoin mining industry. Details Of The Bitcoin Miner ETF The fund, which is built around the Indxx Bitcoin Miners Index, focuses on firms that derive a majority of their revenue from Bitcoin mining activities or related operations, such as hardware and software development. While the ETF does not invest directly in digital assets or derivatives, it may still have indirect exposure through its investments. According to Grayscale, the purpose of this product is to provide a diversified, passive approach to the Bitcoin mining sector without requiring direct ownership of cryptocurrencies. Notably, Grayscale’s launch of the Bitcoin Miners ETF highlights its recognition of the mining industry’s vital contribution to the broader Bitcoin network. Miners play a crucial role by maintaining the blockchain’s security, integrity, and overall functionality. The company emphasized that these operations are not only integral to the network’s ongoing operation but also appeal to investors looking for alternatives to holding Bitcoin directly. As Grayscale noted, the performance of Bitcoin mining firms often correlates closely with Bitcoin’s price movements, making them a potential proxy for exposure to the cryptocurrency’s market activity . David LaValle, Grayscale’s global head of ETFs, explained that this new product offers a “structured and transparent” investment vehicle for those interested in Bitcoin miners. He remarked that miners, often referred to as the “backbone of the network,” are well-positioned for growth as Bitcoin adoption continues to rise. With MNRS, investors can access the global Bitcoin mining industry in a passively managed fund that evolves alongside the sector. A Strategic Addition To Grayscale’s Product Suite The introduction of the Grayscale Bitcoin Miners ETF represents another step in the firm’s efforts to diversify its product lineup and cater to different investor preferences. By focusing on companies rather than digital assets themselves, Grayscale seems to be providing an alternative avenue for investors to participate in the cryptocurrency market. This strategy also aligns with the growing interest in Bitcoin-related equities and supports the firm’s broader mission to make digital currency investments more accessible to a wider audience. Following the miner ETF news, Bitcoin has seen a slight increase in price. Now trading at a price of $105,505, BTC is up 3.7% in the past day Although it is not certain if the ongoing surge in BTC is directly tied to the Grayscale news, however the positivity in this development might have added to the bullish momentum in the market . Featured image created with DALL-E, Chart from TradingView
So close yet so far – that's the story for bitcoin (BTC) this Friday morning, as its price rally has stalled just shy of record highs amidst a continued rally in gold (XAU), a traditional risk asset, and crypto tokens associated with it. BTC, the leading cryptocurrency by market value, changed hands near $104,400 at press time. Bitcoin prices are just 4.7% short of setting a new lifetime high, according to CoinDesk data. President Trump's reiteration of the tariffs threat looks to have clipped BTC's wings. While some fear an extended sell-off before the next big bullish wave unfolds, action in the onchain derivatives market suggests otherwise. "While some crypto leaders are betting on BTC to fall before rallying towards $250K later this year, the Derive.xyz market remains skeptical. In fact, there’s a 9.7% chance of BTC falling below $75K before March and an even less likely 4.4% chance that it will swing over $250K before September 26," Nick Forster, founder at the leading decentralized onchain options AI-powered platform Derive.xyz , told CoinDesk. Flows on Deribit and the CME remain bullish as momentum looks to be building for state-level BTC reserves in the U.S. That said, gold, a traditional safe haven, and tokens tied to gold are on the rise, and the latest uptick in Tokyo inflation supports the bullish case in the anti-risk yen. Gold hits lifetime high Gold rose to a record high of $2,799 per ounce early Friday, taking the month-to-date gain to 6.5%. The lifetime high comes as participants in the London bullion market rush to borrow the yellow metal from central banks, motivated by reports of heightened gold deliveries to the U.S. The flurry of activity is reportedly driven by worries over possible import tariffs, according to Reuters . According to Blokland Smart Multi-Asset Fund's Founder, Jeroen Blokland, gold's rally to record highs against major fiat currencies hints at currency debasement . The intentional devaluation of paper money could also source demand for alternative investments like cryptocurrencies. Gold-backed tokens are already drawing strength from the XAU price rise, although they continue to trade at a discount to the yellow metal. Tether gold (XAUT) rose to its lifetime high of $2,796 on Bitfinex early today, TradingView data show. Meanwhile, PAXG also teased a move to record highs above $2,800. Tokyo inflation surges, AUD/JPY looks south Consumer inflation in Tokyo, which tends to lead nationwide trends, sped up slightly in January, government data showed . Notably, the core figure, which excludes the volatile food and energy component, rose 2.5% in January from a year earlier, compared with the 2.4% increase seen in December. The fastest annual increase is conducive to more Bank of Japan (BOJ) rate hikes and yen strength. Last week, the central bank raised the policy rate to 0.5%, the highest in over 16 years. A potential surge in the yen could destabilize riskier assets, as seen in August of last year. AUD/JPY, the FX market's risk barometer, has dived out of a consolidation pattern, hinting at more losses and broad-based risk-off ahead.