Key Takeaways

Editor’s Note: The Crypto Daybook Americas will not be published on Monday, January 20, due to the observance of Martin Luther King Jr. Day, a holiday in the United States.

You are exploring the Crypto Daybook Americas, your new morning update on what occurred in the cryptocurrency markets overnight and what is anticipated for the day ahead. In the upcoming weeks, this daily update will replace the First Mover Americas newsletter and will arrive in your inbox at 7 a.m. ET. To subscribe, click here.

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Current Crypto Climate

With President-elect Donald Trump's inauguration just around the corner, the cryptocurrency market is buzzing with activity. Bitcoin remains stable above $100,000, while altcoins including SOL, ADA, LINK, XRP, and LTC are gaining momentum, as discussions hint at Trump placing crypto high on his policy agenda.

Ether is also seeing a rise, following reports that an address linked to Trump's World Liberty Finance project acquired nearly $10 million in ETH this week, according to Arkham Intelligence. Additionally, keep an eye on the NEAR Protocol, as its staking dynamics appear promising with increased interest.

The outlook remains optimistic with inflation concerns easing after Wednesday's U.S. CPI report, allowing market participants to focus on the anticipated inauguration. On-chain analysis from 21Shares suggests there is significant potential left for BTC.

“The macroeconomic backdrop remains supportive, with unemployment trending downward, inflation easing, and enthusiasm surrounding Trump’s inauguration,” stated Valentin Fournier, an analyst at BRN. “We expect a positive trend for Q1, although a price correction could occur this week if the new administration fails to outline a concrete action plan.”

BTC is currently trading at a discount on Coinbase compared to other platforms, indicating weak demand from U.S. investors. Notably, a recent transaction saw over $1 billion in BTC transferred to Coinbase, often signifying a seller’s intention.

Inflation worries may resurface, as December's PPI has risen above the CPI for the first time since 2022, which demands our attention!

Events to Monitor

• Jan. 17: Oral arguments in KalshiEX LLC v. CFTC concerning Congressional Control Contracts.
• Jan. 23: SEC's deadline for a decision on NYSE Arca's proposal for the Grayscale Solana Trust (GSOL).
• Jan. 25: SEC decisions on various proposed spot Solana ETFs.
• Feb. 4: MicroStrategy reports Q4 earnings.

Noteworthy Market Movements

• BTC is currently priced at $102,319.71 (down 2.17% within 24hrs).
• ETH has risen 3.13% to $3,424.04.
• The CoinDesk 20 index has increased 1.36%, reaching 3,960.57.

Bitcoin and Ethereum Stats

• BTC Dominance: 57.49
• Ether Staking Yield: 3.1%
• BTC Transactions: Over 1 billion transactions noted on Coinbase in the past week.