Crypto Market

BTC and ETH Market Insight

On January 15th, the U.S. CPI data showed a cooling of core inflation, easing market fears about rising inflation and triggering a global market rebound. Consequently, BTC surged by 4% and stabilized around 100k. With Trump's inauguration on January 20th, his administration's "pro-crypto" stance is highly anticipated by the market and supports BTC prices. Trump posted about a meme coin $Trump on his personal account on X, along with a website link. The token rapidly reached a market cap of $10 billion, with 80% of the tokens locked. This isn't the first time Trump has ventured into crypto assets. He has previously released four editions of personal NFTs.

Options Market

In the light of a weaker-than-expected CPI print which eased the fear of rising inflation, BTC bounced decisively after briefly trading below 90k handle. The market also embraced the upcoming Trump’s inauguration.  The market became increasingly bullish. Skew drifted further to favour OTM calls as BTC Jan call dominated. The implied volatility of Jan 24th expiry rose more than 10 points for BTC. ETH underperformed BTC again, pushing ETH/BTC rate further down towards 0.03 mark. IV wise, ETH followed a bit BTC’s movement but in a less significant manner. The volatility is expected to remain relatively elevated around the inauguration.

Altcoins and Blockchain News

• Trump: Bitcoin Reaches New Highs, Attributed to the “Trump Effect”.

   

• World Liberty Fi, backed by Trump, holds $140 Million USD worth of  ETH. Total Assets Exceed $300 Million.

   

• Driven by Trump Family Meme Coins, Solana Daily Transaction Fees Reach $33.3 Million, Setting a Record High.

   

• Data: Polymarket shows a 50% probability of Trump establishing BTC reserves within 100 days of stepping into White House.

   

• TRON Founder Justin Sun Announces TRON DAO’s Additional $45 Million Investment in World Liberty Financial (WLFI), Bringing Total Investment in the Project to $75 Million.

   

• Thailand Will Launch Cryptocurrency Regulatory Sandbox in Phuket in October, Focusing on Stablecoin Applications.

   

• Tokens Like FTN and IMX Will See Large Unlocks This Week, with FTN Unlocking Valued at $76.2 Million.

   

• According to Tokenpost, Web3 Gaming Company Hive Labs Completes $2.75 Million Pre-Seed Funding Round Led by Framework Ventures.

Macro

The major benchmarks rebounded from last week’s sell-off: the DJIA added +2.2%, the S&P 500 +2.0%, and the Nasdaq +1.7%. Chinese equities also finished the week with solid gains: the Shanghai Composite Index +2.31%, the CSI 300 +2.14% and the Hang Seng index +2.73%.