Market Overview
The crypto market cap increased by almost 5% in the last 24 hours to $3.25 billion. This rise above previous local highs confirms the formation of an uptrend with a sequence of higher local highs and lows. The crypto market faces few technical hurdles until it hits $3.32 billion, matching the classic 61.8% Fibonacci retracement level of the decline from the early October high.
The sentiment index jumped to 48. Although this is the lower half of the sentiment range, we are seeing the highest values of the indicator since late October, reflecting a significant change in sentiment. The crypto market did not need the support of US stock indices for this, but the metals and Asian markets still updated their highs.
Bitcoin is trading above $95,000, its highest level since November 17. It managed to push back the 50-day MA, surpass previous highs and confirm a streak of higher lows. What other bullish signals do you need? Technically, BTC now has a clear path to the $100-106,000 zone, limited by the psychologically crucial round level from below and the 200-day MA from above.
News context
The weakening US dollar will be a powerful catalyst for Bitcoin growth, according to analysts David Brickell and Chris Mills. In their opinion, the first cryptocurrency is the optimal asset for trading depreciation.
Bitcoin simultaneously forms three serious signals of decline, notes analyst Doctor Profit. According to him, reaching the $70,000 level is “only a matter of time.”
Strategy made its largest weekly purchase of bitcoin since July last year. Between January 5 and 11, the company purchased 13,627 BTC ($1.25 billion) at an average price of $91,519 per coin. Strategy now owns 687,410 BTC, purchased for $51.8 billion at an average price of $75,353 per bitcoin.
BitMine added 24,266 ETH to its crypto reserves last week, accumulating a total of 4,167,768 ETH at an average price of $3,119. The company already owns 3.45% of Ethereum’s total supply, with a stated goal of 5%.
The collapse of Ethereum’s market value could disrupt the blockchain’s settlement mechanism and cause the collapse of Ethereum’s infrastructure, according to a study by the Bank of Italy.
Ethereum co-founder Vitalik Buterin outlined a set of technical requirements that will allow the blockchain to maintain long-term stability without constant developer involvement.
Trading volume in the crypto spot market reached $18.6 trillion by the end of 2025. This figure increased by 9% from $17 trillion in 2024, according to CryptoQuant.
Cardano founder Charles Hoskinson has called on White House cryptocurrency advisor David Sax to resign from his post for “complete failure.” According to him, since the appointment of the “crypto czar” at the end of 2024, the industry has not seen the progress that everyone expected.
