COINOTAG News reports that the recent buzz surrounding the “Trump Bitcoin Reserve Act” has been labeled as false information by various sources. Investors and stakeholders are advised to await confirmation
The post Bitcoin Price Hits New All-Time High Resulting in $1B Crypto Liquidations appeared first on Coinpedia Fintech News After closing last week above $101k, Bitcoin (BTC) price rallied over 3.3 percent in the past 24 hours to reach a new all-time high (ATH) of about $109,114. The flagship coin signaled the onset of a fresh parabolic rally fueled by rising demand from institutional investors, and soon nation-states. Following the sudden Bitcoin price surge after retesting the support level around $100k, more than $264 million was liquidated from the BTC’s leveraged market in the last 24 hours, with the majority involving long traders. The altcoin industry followed in similar volatility, thus resulting in $1.25 billion in forced liquidations, with over $911 million involving long traders. Rising Demand for Bitcoin by Whale Investors Bitcoin price has enjoyed robust support from institutional investors seeking to hedge against global inflation and significant uncertainty in macroeconomics. For instance, the US spot BTC ETFs have registered exponential growth in the net cash inflow since the yearly calendar flipped three weeks ago. According to the latest market data, the US spot BTC ETFs have registered a net cash inflow of over $1.5 billion year-to-date. As a result, the US spot BTC ETFs have registered a cumulative total net inflow of $38 billion and currently have a total net assets of $120.95 billion. Midterm BTC Targets $BTC #Bitcoin New All time High.. https://t.co/X3BU0q9MX7 pic.twitter.com/MaMWtMXNzJ — Captain Faibik (@CryptoFaibik) January 20, 2025 From a technical analysis standpoint, Bitcoin price has been forming a megaphone structure in the daily time frame. After rebounding from the lower border in the past week, Bitcoin price is well positioned to rally towards $114k in the near term. However, Bitcoin’s short-term traders should be wary of a potential sell-the-news bubble after the inauguration of Donald Trump tomorrow. Furthermore, Bitcoin price could be evolving to a macro consolidation structure before continuing with bullish sentiment in the near future.
A key technical development on the Dogecoin (DOGE/USD) chart could hint at a bullish move if current support levels hold, according to crypto market analyst Kevin (@Kev_Capital_TA). After roughly a month in a downward-sloping pattern, DOGE appears to be rebounding off the former resistance line of this channel—an event that often garners attention among traders looking for an upswing. Dogecoin Price Ready To Skyrocket? On Sunday (Jan 19), Kevin noted that Dogecoin had been “trading in a falling channel for over a month” and was “currently back testing” the channel’s upper boundary. He emphasized that it was crucial for DOGE “to hold this and bounce,” noting that failure to do so might force a “reassessment” of the chart. Thus far, it seems the cryptocurrency is managing to defend its newfound support. DOGE briefly dipped to about $0.345 before closing two deep wick four-hour candles back above the trend line. Kevin pointed out this “nice bounce off the retest” and its alignment with key four-hour moving averages, suggesting the potential for higher prices. Related Reading: Dogecoin’s Bullish Push Gains Steam, A Retest To $0.4 Ahead At press time, Dogecoin sits around the $0.38–$0.39 level, showing resilience at its former resistance-turned-support. Kevin noted: “Dogecoin is catching a nice bounce off the retest of the falling channel I have been tracking along with its key 4HR moving averages. Very nice.” Despite Dogecoin’s promising technical setup, Kevin stressed that altcoins remain heavily dependent on Bitcoin’s direction and market dominance. He referred to the ongoing crypto cycle, asserting that “we have never been in an altseason” so far in this bull run. According to Kevin, altcoins will not “durably outperform the King” unless BTC dominance falls below the 54.51% threshold and USDT dominance sinks beneath 3.7%. Related Reading: Dogecoin Leads The Pack As Dog-Themed Coins Rally – “Trump Effect” Sparks Excitement He also observed that Bitcoin dominance was nearing 59%, effectively “attacking the macro golden pocket” and potentially threatening altcoin performance. If BTC reestablishes its lead above these critical dominance levels, Kevin believes the short-term outlook for most altcoins—Dogecoin included—may remain constrained, even if their individual charts look constructive. Another factor adding turbulence to the crypto market is the recent memecoin launch by incoming US President Donald Trump. Kevin lamented that, in his view, the crypto market had been “the healthiest” it had looked in four years—highlighting how higher-quality utility coins were gaining traction and how investors seemed to be “fleeing to quality left and right.” However, he claims that “in just 36 hours,” those close to Trump released a memecoin that derailed this dynamic, sparking renewed meme coin speculation and pulling many solid projects down by double-digit percentages. Despite describing this frenzy as a “temporary derailment,” Kevin believes the situation will eventually stabilize: “It may take a few weeks, but I still think we’re in a very good spot.” For Dogecoin, the immediate signal to watch is whether it can continue holding above its retested channel line. A decisive bounce above the $0.40-$0.41 region could bolster the bullish case, especially if broader market conditions remain supportive. On the other hand, any surge in Bitcoin dominance—and the possible return of heightened meme coin mania—may introduce fresh headwinds. At press time, DOGE traded at $0.38. Featured image created with DALLE, chart from TradingView.com
Bitcoin (BTC) has surged to unprecedented heights, reaching new all-time highs, but caution is warranted for late entrants in the market. As BTC surpassed $109,000, analysts suggest that potential price
Six Chinese nationals were arrested in Jeju, South Korea, for allegedly assaulting a dealer and stealing $689,000 during a stablecoin exchange. Authorities in Jeju Island, South Korea ‘s largest island, have arrested six Chinese nationals for allegedly stealing 1 billion won (nearly $690,000) during Tether ( USDT ) transaction at a hotel on Jan. 16, Maeil Business Newspaper reports , citing Jeju Western Police. The group is accused of attacking the crypto dealer — known just as A — and taking the cash. The suspects, including a man in his 40s — called B —, say they’re the real victims. Police said the group accused A of “making Tether stablecoins disappear” during the transaction. The authorities allege that the group attacked the A person and took the cash meant for the exchange. Two suspects were arrested at the hotel, the report reads, adding that three others were caught at Jeju International Airport, and one was arrested at another currency exchange. Police recovered 369 million won in cash from the suspects but are still tracking the rest. You might also like: South Korea’s regulator issues suspension warning to Upbit over 700,000 KYC violations The police said all six suspects deny the charges. They claim they originally planned to exchange Korean won for Chinese currency but were convinced to use virtual currency instead. Investigators believe the group always intended to use Tether and think they moved the stablecoins out of the wallet during the exchange before attacking A to steal the funds. Meanwhile, South Korea’s financial regulator, the Financial Services Commission, has officially started working on the second phase of its crypto rules to boost user protection. Kim So-young, Vice Chairman of the FSC, said the move to push ahead with phase two comes as the global crypto market faces “rapid changes with mixed feelings of optimism and uncertainty.” The new set of rules will reportedly cover such areas as stablecoins , crypto exchanges, and business entry regulations, though detail are yet to be revealed. Read more: Ki Young Ju: South Korea’s economic crisis could drive crypto businesses overseas
Trinity College in Dublin has become the first Irish institution to partner with Ripple’s University Blockchain Research Initiative. According to the Irish Independent, Trinity College will set up a blockchain research initiative at the Adapt Research Ireland Centre at the university to work on advancing blockchain technology, addressing challenges in cryptocurrency cybersecurity, and developing innovative fintech solutions. As part of the collaboration, the university will receive $200,000 in funding over a period of two years and will also host an XRPL validator, a node that verifies transactions on Ripple’s blockchain network, enabling Trinity researchers to support its decentralized infrastructure. The initiative will allow “students and staff to research and develop solutions that address real-world challenges,” said Hitesh Tewari, a professor at Trinity’s School of Computer Science and Statistics, who will lead the project. One such project that will be researched and developed under the UBRI program is a decentralized social media platform designed to operate without a central authority, offering users greater privacy and control over their data. However, specific details about the project have not been disclosed. Trinity College will also help promote blockchain adoption locally through educational programs and workshops. You might also like: Ripple leadership blasts SEC after filing appeal Commenting on the development, Lauren Weymouth, Ripple’s senior director of university partnerships, highlighted Ireland’s position as a “leading hub for blockchain and cryptocurrency advancement,” adding that the collaboration with Trinity College aligns with Ripple’s mission to drive cutting-edge advancements in the blockchain industry. Launched in 2018 with an initial $50 million commitment, Ripple’s UBRI bands with leading universities worldwide to support academic research , technical development, and innovation in blockchain, cryptocurrency, and digital payments. Over the past five years, UBRI has partnered with more than 50 universities across twenty-six countries. Last year, the University of Toronto, Canada’s largest university, onboarded the program and became an XRPL validator, working on advancements in payment processing technology. Read more: Ripple donates $100k in XRP for California wildfire relief
BTC price hits new all-time highs, but latecomers to the party face a real danger of immediate unrealized losses, Bitcoin market analysis says.
The world’s most-used blockchain just bagged its largest ever daily fees. On Saturday, Donald Trump’s official token, TRUMP, was issued on the Solana blockchain, which led to an uptick in trading volumes over the weekend. Between Saturday and Sunday, the network generated fees of over $35 million and revenue of at least $14 million, DeFiLlama data shows. This volume originated from some 6 million active addresses. These fees are more than double of Nov. 22 levels of nearly $14 million, when several AI Agent tokens populated the network and led to a trading frenzy. Such fees are remarkably high for a low-cost blockchain, when transactions typically take fractions of a cent to settle. The TRUMP token attracted over $3 billion in trading volumes on Saturday and Sunday, with other ecosystem plays, such as Jupiter’s JUP, seeing heightened interest from traders. The choice of Solana as an issuance network, in turn, bumped demand and sentiment for SOL tokens, as reported by CoinDesk . SOL trading volumes have rocketed from Thursday’s $3 billion to over $26 billion in the past 24 hours, with Saturday’s moves bringing weekly gains to over 46%. SOL has surged nearly 3,000% from its three-year low of $9 back in December 2022 when the implosion of crypto exchange FTX and prominent Solana backer Sam Bankman-Fried, dented sentiment for the network. Late Sunday, First Lady Melania Trump launched her own memecoin in a move that sent TRUMP spiraling down 50% at one point. The high volumes and network requests briefly caused ecosystem applications Jito and Phantom to encounter delays in Asian morning hours, though these were quickly rectified. Phantom reported 8 million transactional requests per minute in an X post. It said users swapped over $1.25 billion in volume and made 10 million transactions over a 24-hour period.
Digital assets went on a highly volatile ride on Monday morning, with BTC dumping from $106,000 to under $100,000 only to bounce off and register a new all-time high hours later at over $109,000. All eyes will be on Donald Trump’s inauguration on Jan. 20 while traditional markets in the United States remain closed for Martin Luther King Jr. Day. Better-than-expected Core CPI data eased inflation fears last week, and investors were encouraged, which was reflected in market performance; however, that all appears to be unraveling as we begin another week. Nevertheless, the crypto market has managed to recover from recent losses and is up to new peaks . Economic Events Jan. 20 to 24 President-elect Donald Trump will be sworn into office on Monday, but markets may have already factored this in. However, the signing of executive orders may come quickly, inducing further market volatility. Over the weekend, Trump launched his own memecoin (TRUMP), which surged to over $70 billion in fully diluted valuation in a matter of hours before dumping 50% in a massive market crash. It will be a light week in terms of economic data, beginning with initial jobless claims reports released on Thursday. This will be followed by January’s S&P Global Manufacturing PMI and Services PMI preliminary readings on Friday. The purchasing manager’s index data is a leading economic indicator used to gain insight into changing conditions in the wider economy. On Friday, existing home sales data, January’s Michigan Consumer Sentiment Index, and inflation expectations will also be released. The latter reports portray the results of a monthly survey of consumer confidence levels and views of long-term inflation, which impacts spending. Key Events This Week: 1. MLK Day, US Markets Closed – Monday 2. Inauguration of President Trump – Monday 3. Initial Jobless Claims data – Thursday 4. S&P Global Manufacturing/Services PMI data – Friday 5. December Existing Home Sales data – Friday 6. ~10% of S&P 500… — The Kobeissi Letter (@KobeissiLetter) January 19, 2025 Additionally, Thursday’s European Central Bank meeting may provide signals about potential rate cuts in 2025, which could influence global markets. There are also some notable earnings reports released this week including Netflix, Charles Schwab, and American Express. Crypto Markets Going Crazy Crypto markets started the week in the red as over $200 billion left the space, dumping total capitalization by over 6% to $3.58 trillion. Bitcoin fell hard, losing a similar percentage in a fall back into five figures again, dropping to $99,700. However, it all changed in the following hours as the cryptocurrency resumed its bull run and shot up to a fresh all-time high of over $109,000. The altcoins also faced enhanced volatility but have started to chart impressive gains over the past hour or so. The post 3 Things That Could Further Influence Crypto Markets in The Week Ahead appeared first on CryptoPotato .
Meme coins have grown from their starting point with Dogecoin (DOGE) as a joke to a market worth over $126 billion with a 24-hour trading volume sitting above $15 billion. This cryptocurrency niche, where projects ride on narrative, hype, and community support rather than the utility anchor for traditional crypto projects, has become a favorite investment niche for crypto investors. Following the recent record-breaking move of Bitcoin above $100,000 and other favorable crypto considerations globally, the Meme coin market is set for another long ride in green. One of the Meme coins tipped to be a goldmine in 2025 is Chill Drone ( $CHONE ). A uniquely positioned meme coin with a narrative that ticks every box of its predecessors like $DOGE and $SHIB. Let’s find out more. Meet Chill Drone: An Anti-Struggle Meme Coin for the Crypto Market The crypto market is a land of many opportunities, and crypto natives constantly find themselves trapped in the endless cycle of striking gold. The hustle, struggle, hyperactivity, competitiveness, pressure, and intensity of the crypto market have become the operational philosophy for most projects and investors in the market. Can we forget about world domination for a second and embrace tranquility, creativity, individuality, community, and moving at our pace? This is the question Chill Drone is asking and its proposition to the crypto market. Chill Drone goes beyond just a meme coin to a movement that hopes to inject a new lifestyle into the crypto market, where it creates a strong community of people separated from the pressure and endless grind of domination. It is a community of holders embracing relaxation, balance, tranquility, creativity, humor, and fun. What Makes $CHONE Appealing? Dogecoin and Shiba Inu had a good narrative, humor, community, and shareability in common, which contributed to their widespread success. The case is not entirely different with Chill Drone, as it shares all of these features, which positions it for similar success. Top of the list of $CHONE’s unique appeal is its meme-worthy vibes. Social media virality is a big part of successful meme coins. Chill Drone’s quirky drone character with half-open eyes and a serene philosophy practically markets itself. Its relatable philosophy is also an appealing factor. “Chill out” is just the statement a lot of people want to hear in a fast-paced and chaotic world. High relatability makes it easier for virality in the world of meme coins. $CHONE isn’t screaming “to the moon,” rather it’s whispering “Enjoy the ride.” $CHONE’s young presence in a crypto market tipped to be highly favored under the incoming US government makes it a good investment consideration. Early investors will have the opportunity to ride the wave before it goes mainstream. The meme coin market thrives on stories (narratives), and Chill Drone has one of the best narratives in the market right now. It’s unique proposition, coupled with a strong community potential and meme-friendly branding, $CHONE is well positioned to gain traction. To learn more about Chill Drone ($CHONE), visit the following links: Website: www.chilldrone.io Twitter (X): x.com/chilldrone_io Telegram: t.me/chilldroneverfiy Contact address: 47TSGRuTiSsDpifLUu8WYc3xveFP7SwAvbi9K6brpump