January was a crucial month for the cryptocurrency sector: it is the photograph taken by Hodlie which analyzed the main trends.
Crypto market
In the first days of the month, Bitcoin (BTC) has exceeded the $ 100,000 threshold again, driven by the items of its possible adoption as the strategic reserve of the United States. However, the situation complicated with the wait for decisions on American duties, bringing BTC under $ 90,000 and Ethereum (ETH) under $ 3,000.
Rally, memecoin and regulatory jolts
An important event was the January 15, when Gary Gensler has Leaving the presidency of the century, marking a historic turning point for the sector. In his place, at Interim, Mark Uyeda, a declared supporter of cryptocurrencies, was appointed. The markets reacted with enthusiasm: XRP touched a maximum of $ 3.40.
January 17 was marked by the launch of the token Official Trump, Donald Trump’s Memecoin on Solana’s blockchain, who recorded a surge from $ 0.08 to $ 77 In a few hours, followed by a quick decline. The euphoria for memecoins has further faded with the launch of a similar token by Melania Trump a few days later.
Despite the absence of references to the Crypto in Trump’s settlement speech, Bitcoin closed the month at $ 102,400 (+9.46%), showing a good resilience compared to geopolitical events.
What to expect
“Historically a favorable month for Bitcoin, February could see a new momentum – he declares Gianluca Sommariva Co founder and CEO of Hodlie -. However, the uncertainties about the US duties towards Mexico, Canada and China represent a concrete threat to the global market. On the geopolitical front, peace prospects in the Middle East could represent a positive factor for the economic stability, Cading new hopes for a Bull Run in the Crypto sector “.
