Bitcoin Analysis
As of now, Bitcoin (BTC) is trading at 102,000, a critical level following its steady upward trajectory but still hasn’t broken its all-time high. The chart reveals a major support zone at 90,000, highlighted as red bands. These levels, along with ongoing crypto events, indicate areas where strong buying interest is likely to emerge if the price faces downward pressure.
Source | Tradingview
Given the proximity to key events this week and next week, expect increased volatility. Traders should closely monitor movements around these levels, particularly in light of any news impacting the broader financial markets or crypto sentiment.
Trump’s Inauguration – A Pro-Crypto Push
A major global event is scheduled for 5 PM UTC today, January 20, 2025—Donald Trump’s inauguration for his final four-year term. Trump has consistently positioned himself as a pro-crypto figure, and his policies are expected to have a profound impact on the industry. This marks the beginning of what many are calling a “crypto-friendly era.”
Trump and his Children | ABC
Trump’s administration is likely to focus on promoting blockchain innovation, reducing regulatory hurdles, and encouraging U.S. adoption of digital assets. This could pave the way for significant investment flows into the crypto sector, particularly as Trump views crypto as a critical tool for global economic competition.
The Launch of the TRUMP Memecoin
On January 18, 2025, Trump surprised the world and launched his official memecoin, TRUMP, on a Saturday while Wall Street remained closed. The timing coincided with the resignation of Gary Gensler, a prominent figure known for his anti-crypto stance. The token’s initial trajectory was remarkable—surging from 0 to 75 USDT—and currently trading at 61 USDT, boasting a 12.2 million market cap.
TRUMP is listed on Millionero, and you can trade it directly on the platform. TRUMP/USDT
The TRUMP token’s importance lies in its symbolic and marketing power. It represents a direct challenge to traditional finance, leveraging Trump’s influence to capture attention worldwide. Investors are eyeing this development as a signal of broader adoption, with potential spillover effects on the crypto market as a whole. The token also demonstrates how political figures could shape the narrative for crypto adoption.
Source | Cryptobubble
U.S. Economic Events
The U.S. economic calendar this week is relatively light, but key data points will still influence markets:
- Thursday, January 23: Initial jobless claims are forecast at 215,000, reflecting ongoing labor market trends.
- Friday, January 24: Key reports to watch include:
- Existing home sales (forecast: 4.2 million).
- Consumer sentiment (final), expected to hold steady at 73.2.
- S&P Flash U.S. Services PMI and Manufacturing PMI, indicating activity in the service and manufacturing sectors.
These reports will provide insight into the health of the U.S. economy and could influence traditional and crypto markets.
Other Crypto Developments
- Arbitrum (ARB): The final vote on Arbitrum BoLD, a new dispute resolution protocol, concludes this week. If passed, it could enhance security and decentralization, potentially impacting ARB’s value.
- Jupiter (JUP): The Catstanbul 2025 Conference on January 25-26 is expected to unveil major platform upgrades. This could renew investor interest, potentially driving price movements.
- IOTA (IOTA): A vote on a growth initiative proposal concludes today, aimed at boosting network metrics and public awareness. The outcome could influence IOTA’s adoption and price.
Treasury Debt Limit Warning
U.S. Treasury Secretary Janet Yellen has announced that the United States will hit its debt ceiling on January 21, 2025, prompting the need for “extraordinary measures.” This looming crisis could stir global markets, potentially creating ripple effects in both traditional and crypto asset classes.
This week is shaping up to be one of significant events and potential market-shifting moments. Traders and investors should stay alert and prepared for heightened volatility across the board.
This article is for informational purposes only and does not constitute financial advice. Always Do Your Own Research (DYOR) before making any investment decisions. You can start your research at blog.millionero.com for in-depth crypto insights. When you’re ready, trade spot and perpetuals on Millionero with confidence.