Crypto Daybook Americas: Insights Ahead of 2025

Your day-ahead look for Jan. 6, 2025

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What to Know

The lead-up to 2025 has a familiar rhythm. Not only is there an 8% recovery in Bitcoin since late December, but the trends in the news are also reminiscent.

According to JPMorgan, the market influences that spurred Bitcoin and gold’s record highs last year remain in play. They state:

"The debasement trade is here to stay, with both gold and Bitcoin becoming increasingly important constituents of investors' portfolios." (Translation: Investors continue to favor assets like gold and Bitcoin to hedge against inflation and currency devaluation.)

Last year's commodities surge saw Bitcoin surpass $100,000 and gold reach over $2,600, propelled by geopolitical tensions and inflation worries. The anticipated capital influx for digital assets eclipsed $78 billion, as reported by JPMorgan.

On the flip side, high bond yields and a strong dollar due to economic optimism could hinder short-term growth. An upcoming employment report could provide essential insights into the broader economic landscape.

Growing discussions surrounding BTC-holder MicroStrategy (MSTR) are noteworthy, particularly the chatter about brokers lessening their stake in the firm alongside increasing margin requirements. This could trigger volatility concerns.

Moreover, crypto economist Ben Lilly believes that Ether’s value has been dampened by the increasing quantity of coins held in DeFi protocols, notably Ethena, aimed at preserving USDe's $1 parity.

Key Events to Watch

• Crypto Market:

  • Jan. 6: Uniswap’s transition to mainnet.
  • Jan. 6: Binance will delist DAR.
  • Jan. 8: Significant updates on various tokens.

• Economic Data:

  • Jan. 6: Commentary from Fed Governor Lisa D. Cook.
  • Upcoming employment statistics will impact the Federal Reserve's outlook on rate adjustments.

Market Overview

• Bitcoin (BTC): Up 0.78% over the last 24 hours, currently valued at $99,034.53.
• Ethereum (ETH): Now priced at $3,647.09, up 0.97%.
• Macro Indicators: Stock indices have shown mixed signals with positivity generally, but caution persists in commodities.

For continued updates and analysis, stay tuned to the Crypto Daybook Americas.