Overview

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Market Update

The crypto market is currently stabilizing, with Bitcoin taking a momentary pause amid pressures from renewed tariff threats from Trump, impacting gold prices and bolstering demand for the U.S. dollar.

Some market movements include:

• The VIRTUAL token surged after its listing on Upbit.
• Hyperliquid’s HYPE token increased by 3%.
• Litecoin’s perpetual futures open interest is up to 5.19 million LTC, the highest since early December.

USDC Performance

USDC is shining this month, showing a market cap growth of 21% to $53.12 billion, marking its best month since May 2021. In comparison, USDT managed only a 1% increase.

Focus Ahead

Market observers are waiting for the upcoming U.S. Core PCE data release, a key gauge for inflation. Analysts expect a robust reading, with potential implications for Bitcoin’s price movements.

Key Events to Watch

• Jan. 31: Crypto.com will suspend purchases of certain cryptocurrencies in the EU.
• Feb. 2: Anticipated Athena hard fork network upgrade.

Conclusion

Understanding these market dynamics is crucial as they guide trading decisions and predict future trends. Stay vigilant as developments unfold.