In the past week, the BTC price has generally shown an upward trend. Affected by macro data (US dollar index, non-agricultural data, CPI), market information (such as the US Department of Justice was approved to liquidate the BTC seized in the Silk Road case) and political factors (Trumps inauguration), the BTC price fluctuated greatly in the past week, with the lowest price falling below $90,000 and the highest price reaching $109,588, setting a new ATH. The current BTC price is around $102,000 (the above data is real-time data of Binance spot at 15:00).
The Trump family MEME Coin led by TRUMP swept the market, and Trump’s inauguration ceremony did not mention crypto assets. The market generally believes that this week is an exciting and closely watched week. The executive orders signed by Trump intensively not only affect the subsequent trend of crypto assets, but also determine the future development of global macro assets.
Market Analysis
BTC market adoption speed exceeds that of the Internet and mobile phones, and the popularity of crypto assets continues to rise
A report released by BlackRock on January 14 showed that BTCs adoption rate has surpassed past transformative technologies, including the Internet and mobile phones. The report emphasized that since its launch in 2009, BTC has quickly evolved from a niche innovation to a globally recognized asset. Regarding economic transformation, trends such as rising inflation, geopolitical tensions, and concerns about the traditional banking system highlight the value of BTC as a decentralized asset. As the global economy digitizes, BTC is becoming an integral part of the evolving financial landscape. At the same time, the younger generations familiarity with technology and preference for digital-first solutions make them a leading group in cryptocurrency adoption.
Cryptocurrency Google search index hits all-time high
On January 21, Google Trends data showed that the number of Google searches for How to buy crypto hit a record high, reaching a peak of 100. This is the first ATH in 4 years, and the number of searches for How to buy trump coin continues to rise.
After the $TRUMP surge, it may trigger a trust crisis in the MEME coin carnival
On the eve of Trumps inauguration, $TRUMP issued by his team triggered a market carnival. With an astronomical rise and compliant exchanges taking the lead in listing, the markets expectations for the crypto president reached a peak, and the influence of the United States in this round of rising cycle also rose. In the context of the crypto market and the publics expectation that Trump might launch a new crypto-friendly policy, the Trump team launched a new MEME coin $MELANIA, which surprised the market and $TRUMP also plummeted.
As the market acceptance of crypto assets such as BTC increases, how to maintain the formalization of crypto investment is an issue that the market needs to solve. The implication behind $MELANIA taking over $TRUMP is self-evident. The naked opportunism and the previous explosion of popularity sucked away market liquidity. Where will the next market catalyst be?
Industry News
Trump has officially taken office as president, and this term begins against the backdrop of an extremely strong U.S. economy. Market inflation is expected to be very severe. At the same time, the market generally believes that Trump may have more unstable but direct policies in terms of tariffs, immigration, fiscal spending and even personnel changes.
CPI non-farm data are positive, and the global market closed steadily last week
According to the data on January 11, the number of initial claims in the United States increased, but the number of layoffs was at a low level in the market, and the overall job market showed a resilient and healthy state. On January 15, the US CPI data was released. The unadjusted core CPI annual rate in December was 3.2%, lower than the expected and previous value of 3.30%, the lowest since August 24; the unadjusted CPI annual rate in the United States in December was 2.9%, in line with market expectations. The cooling of the core CPI eased the markets concerns about the intensification of inflation in the United States, and the global market responded quickly. However, the Federal Reserve still faces a loose financial situation, a strong underlying economy and a thorny inflation problem.
Trump plans to impose 25% tariffs on Mexico and Canada by February 1
We are considering imposing a 25% tariff on Mexico and Canada because they allow a lot of people into the United States, and I think we will implement it on February 1st, Trump said in response to reporters questions on Monday evening. Both Mexico and Canada have said they will retaliate against American goods if Trump imposes tariffs on them. The tariffs Trump proposed to impose on neighboring countries could have a catastrophic impact on the US auto industry and Detroit automakers because they import a large number of vehicles from Canada and Mexico.
Trump said Canada is a very bad abuser and complained about the influx of fentanyl and immigrants from the northern border. At the same time, Trump did not say that tariffs would be imposed on China immediately, and the A-share and Hong Kong stock markets showed a slight relief. The offshore RMB fell slightly by 0.2%, but maintained most of its gains on Monday.
The United States has a clear attitude towards embracing crypto assets, and many states have submitted BTC-related bills
The SEC is ready to push for crypto policy reforms as soon as Trump takes office.
On January 15, Reuters reported that senior Republican officials at the SEC are preparing to begin reforming the agencys cryptocurrency policy as early as next week after Trump takes office. The information said that the measures being considered by Commissioners Hester Peirce and Mark Uyeda include launching relevant procedures and ultimately formulating guidance or rules to clarify under what circumstances the agency considers cryptocurrencies to be securities, and reviewing some cryptocurrency enforcement cases currently being heard in court.
At the same time, Texas senators submitted SB 778 to establish a state-level Bitcoin strategic reserve; Wyoming House members submitted a strategic Bitcoin reserve legislative proposal; and Massachusetts introduced two more bills on Bitcoin strategic reserves.
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