Overview
This article presents Crypto Daybook Americas, a daily briefing that covers key crypto market developments overnight and expectations for the day ahead. The new daily update aims to replace the First Mover Americas newsletter, delivering insights at 7 a.m. ET.
Market Insights
Bitcoin is showing strong support above $100,000, nearing record highs, primarily due to news that the SEC has set up a task force aimed at refining regulations for crypto assets, as experts believe this regulatory clarity could lead to increased prices.
In parallel, gold is experiencing a robust price increase, climbing back from December lows, and is just 1% away from achieving new highs of over $2,790 per ounce, which is unusual since Bitcoin typically rises when gold prices stagnate.
Reports suggest that potential changes from Trump regarding tariffs could lessen expected impacts on inflation, further driving Bitcoin’s price momentum.
On-chain metrics indicate that 80% of LINK holders are currently in profit. Conversely, the movement of XRP between whale accounts and exchanges has seen reduced activity, suggesting a potential slowdown in selling pressure among large holders.
Upcoming Events
Crypto Events
- January 22, 10:30 a.m.: Launch of the JUP airdrop claim via Jupiter’s DEX.
- January 22, 10:25 p.m.: dYdX Chain plans a software upgrade.
Macro Events
- January 22, 8:30 a.m.: Canada will announce the Industrial Product Price Index for December.
- January 23, 10:00 a.m.: U.S. releases its Leading Economic Index report for December.
Governance Discussions
- CoW DAO is discussing the allocation of funds to enhance liquidity and develop its roadmap for the coming years.
- Morpho DAO is evaluating a 30% reduction in incentive rewards.
Key Chart
XRP’s exchange reserve
XRP’s exchange reserve has decreased, indicating a shift in investor behavior towards holding assets rather than trading them.
Conclusion
Stay tuned for further updates as these events unfold and keep an eye on market reactions. This dynamic landscape promises opportunities and challenges for all market participants.
