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🚨 Latest in Web3: Today's Hottest and Most Important Crypto and Blockchain Updates!
CoinGape Media
January 13, 2025
News
Bitcoin price continues to float around $94,500 while on-chain indicators highlight more concerns ahead. The Bitcoin network activity has dropped to the lowest since November 2024 showing a drop in investor sentiment. Market analysts say that if BTC price loses crucial support of $92,000, it risks falling all the way to $70,000.
Furthermore, the macro developments have fueled the recent selling pressure as US jobs data for December 2024 were stronger than expected. As a result, the chances of the first Fed rate cuts for 2025 have moved to June, instead of March. Looking ahead this week, the US CPI and PPI inflation data will serve as crucial indicators to monitor.
JPMorgan CEO, Jamie Dimon, discussed the future of digital currencies wherein he acknowledged and supported their emergence. However, he criticized Bitcoin for two reasons, sending waves of mixed speculation about BTC prices as the chart continues to show a decline.
MicroStrategy executive chairman and co-founder Michael Saylor on Monday announces buying an additional 2,530 BTC to its ever-growing portfolio. The largest corporate buyer of Bitcoin now holds 450,000 BTC, which it acquired for $28.2 billion.
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The much-anticipated inauguration of Donald Trump on January 20th is drawing global attention, with cryptocurrency enthusiasts eager to understand the potential implications for the digital asset market. Known for his pro-business approach, Trump’s presidency could signal a new era for blockchain innovation and crypto adoption.
Markets
Crypto market today is stuck in the zone, with Bitcoin trading steadily between $92K and $96K. Altcoins, following Bitcoin’s range-bound movement, have seen notable price drops. Virtual Protocols (VIRTUAL) plunged by 11% in the last 24 hours, followed by AI16Z, which dropped 8%.
The overall cryptocurrency price action reflects growing market concerns, including FTX liquidations and rumors of a potential U.S. government sell-off of Silk Road-related Bitcoin holdings. These events have weighed heavily on investor sentiment.
The global crypto market declined by approximately 1%, bringing the total market cap to around $3.3 trillion. Trading volume also dropped compared to last week, now standing at $74 billion.
Cryptocurrencies have become an exhilarating asset class for investors in search of significant returns, as an increasing variety of digital currencies demonstrate the potential for rapid expansion. In a multitude of choices, Bitcoin (BTC), Minotaurus (MTAUR), Ethereum (ETH), and Cardano (ADA) emerge as notable contenders for generating substantial returns. In this examination, we will thoroughly explore these four cryptocurrencies, assessing their present market standings, projections for 2025, and the main elements affecting their prices.
Bitcoin (BTC) has had a shadow of uncertainty follow it for the past few months as it consolidates around $100,000. Today Bitcoin price today is down -5.88% and trades at $89,326.0. As a result, Ethereum (ETH) and Ripple (XRP) have also dropped -9.54% and 2.4%, respectively.
The year 2024 was transformative for the Web3 ecosystem, witnessing rapid advancements, significant market shifts, and evolving regulatory landscapes. This analysis highlights the key crypto trends that have defined the year, supported by relevant data and insights, providing early to medium-scale crypto investors with a comprehensive understanding of what has transpired in the Web3 space.