As of January 23, 2025, Bitcoin and most major cryptocurrencies are experiencing a downturn, impacted by denial from the Chicago Mercantile Exchange regarding the listing of futures for XRP and SOL. Despite this, retail demand for Bitcoin remains strong, with addresses holding up to 10 BTC absorbing 1.9 times the newly mined supply last month. Long-term holders are displaying a cautious approach, reducing spending and profit-taking activities. The crypto market also anticipates a potential interest-rate increase from the Bank of Japan. Upcoming SEC decisions regarding ETF proposals are set to create further market movements. On the macroeconomic front, inflation concerns may be easing based on recent data, positively influencing risk assets. Significant market events include governance votes and the launch of new tokens, indicating active involvement within the crypto space, despite recent price volatility.

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