Day: January 31, 2025

Stablecoin Market Surges Past $200B, Boosting Crypto Market Optimism

The market capitalization of stablecoins just pierced $200 billion, reaching a record height in a sign the crypto market may be poised for further growth, according to CryptoQuant. Stablecoins are digital tokens whose value is tied another asset, typically the U.S. dollar, to provide, as the name suggests, a stable price. They are used by traders to maintain the value of their investments as the switch between assets. According to CryptoQuant data, the stablecoin market has grown by $37 billion since early November, when President Donald Trump won the U.S.…

North Dakota introduces bill to uphold Bitcoin mining rights

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Satoshi Action Fund CEO Dennis Porter revealed North Dakota has introduced a bill that will protect the rights of Bitcoin miners and holders. In a recent post on Jan. 31, Porter said that North Dakota Representative Nathan Toman has introduced a bill to protect the rights of Bitcoin (BTC) users. “I can confirm that a bill to protect the rights of Bitcoiners has been introduced in the state of North Dakota by Rep. Toman,” wrote the Satoshi Act Fund co-founder and CEO. According to Porter, the bill is set to…

Dogecoin May Face An ‘Ugly’ Drop Before The Weekend: Analyst

Este artículo también está disponible en español. In a freshly shared four-hour chart of the DOGE/USDT trading pair on Binance, crypto analyst Carlos Garcia Tapia warns of potential downside for Dogecoin as weekend trading approaches. “If bears break this pattern, it’ll get ugly… especially since the weekend is coming,” Tapia warns. Dogecoin Price Crash Incoming? His chart posted via X depicts an ascending wedge formation running into a confluence of resistance between $0.338 and $0.343, as well as a notable support zone in the $0.31 region. The chart highlights higher…

Bitcoin’s steep corrections may be ‘relic of past, analysts say

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With institutional involvement and shifting market dynamics, analysts believe Bitcoin’s bull market could outlast past cycles, extending past 2025. Bitcoin’s (BTC) future might break from its usual cycle, with analysts suggesting that past steep corrections could be a thing of the past. In an X post on Jan. 31, analysts at Singapore-based blockchain firm Matrixport suggested that with Wall Street stepping in, Bitcoin’s bull market could extend well beyond 2025. The largest crypto by market capitalization typically follows a predictable pattern: three strong years, followed by a sharp correction of…

VanEck Analyst Forecasts $16 By Year-End

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Este artículo también está disponible en español. SUI has jumped 14% in the last 24 hours amid the market recovery. The token is attempting to recover a key support level, which could set the stage for a retest of its latest all-time high (ATH). Following its recovery, an expert at VanEck has forecasted a 300% surge in SUI’s price this year. Related Reading SUI Retests Key Support Level The crypto market is moving toward a green end-of-week after a bloody Monday. The correction saw Bitcoin lose the $100,000 zone, and…

Is Elon Musk’s Protégé Mario Nawfal Shilling Memecoins?

The social media star is said to have promoted an animal-themed Solana memecoin that went bust soon after it was launched. Mario Nawfal Allegedly Promoted Questionable CHILLA Memecoin When the owner of a social media platform, who also happens to be the world’s richest man, endorses someone, others pay attention. This is partly how 30-year-old […] Source CryptoX Portal

Bitwise’s Bitcoin-Ethereum ETF gets initial SEC nod

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Bitwise Asset Management’s exchange-traded product tracking Bitcoin and Ethereum has received the initial nod from the United States Securities and Exchange Commission. According to a Jan. 30 update from the commission, the Bitwise Bitcoin and Ethereum ETF cleared its first regulatory hurdle after its 19b-4 filing was granted “accelerated approval.” It now awaits the regulator’s decision on its S-1 registration, the final step before trading can commence. A 19b-4 approval allows an exchange to list and trade a new financial product, while an S-1 registration is required for issuing new…

Bitcoin ETF inflows surge 500%, Ether ETFs start to recover

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Bitcoin exchange-traded funds in the U.S. recorded a significant jump in inflows, while Ether ETFs showed signs of recovery after three days of weak flows. According to data from SoSoValue, the 12 spot Bitcoin ETFs drew in $588.22 million in inflows on Jan. 30 nearly a 540% jump from the inflows recorded the previous day. BlackRock’s IBIT took the lead once again as the fund attracted $321.5 million in inflows from investors. Fidelity’s FBTC followed with an inflow of $209.14 million while Bitwise’s BITB and ARK 21Shares’ ARKB saw an…

Bitcoin’s next big move hinges on the U.S. labor market data, says analyst

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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…