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News | Crypto Converter | Crypto Calculators |
Chain Reaction Podcast: Your daily crypto fix in just 10 minutes |
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Short on time? Keep up with crypto's rapid pace in just 10 minutes a day. No need to sift through endless articles—"Chain Reaction" distills the most important updates and insights into quick, digestible episodes. |
Why listen? What's in it for you? |
Relevant updates: Get the latest market trends and impactful events. Fresh perspectives: Gain insights that help you connect the dots. Hear the "why" behind the "what" from our team of seasoned analysts. Efficient format: Strapped for time? In under 10 minutes, stay informed and ready to act. "Chain Reaction" condenses the most critical crypto news into bite-sized episodes.
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On the radar |
Our latest episode takes a closer look at: |
XRP's speculative pump: What's driving the surge, and how is it shaping market sentiment? Bitcoin ETF's growth and Ethereum inflows: Examining the trends behind the optimism and potential correction risks. Cardano, Decentraland, and SUI: Analyzing key price movements, NFT developments, and strong market performances. Broader market insights: Bitcoin's resistance levels, Ethereum's potential decline, and long-term investor bullishness. Key events: Updates on the Do Kwon trial, Binance's altcoin volume, and a broader altcoin outlook.
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How to tune in |
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Start your day smarter—click, listen, and lead the conversation! |
VaultCraft launches V2, TVL skyrockets above $100M |
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VaultCraft launches V2, partners with Safe, and secures $100M+ in Bitcoin |
Matrixport, Asia's leading crypto providers, commits $100M+ in Bitcoin OKX Web3 to launch Safe Smart Vaults with $250K+ in rewards
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Earn Now |
Bitcoin slides below $90K: Can BTC hit $69K amid gloomy market sentiment? |
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Key points: |
BTC/USD drops below $90,000 for the first time since mid-November, triggering nearly $500 million in long liquidations. Bearish projections point to support at $69,000, the 2021 all-time high, as market sentiment remains cautious.
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News: BTC price dips below $90K as macro concerns mount - Bitcoin fell to two-month lows, breaching the $90,000 mark on January 13, 2025, as macroeconomic factors and surging U.S. dollar strength pressured risk assets. The dip represents a daily loss of nearly 5%, liquidating more than $500 million in crypto long positions, according to CoinGlass data. |
U.S. President-elect Donald Trump's upcoming inauguration and fears of sustained Federal Reserve rate hikes have fueled bearish sentiment across markets. The S&P 500 and Nasdaq Composite Index mirrored Bitcoin's drop, declining 0.8% and 1.6%, respectively. |
Bearish signals: Will BTC test $69K? - Keith Alan, co-founder of Material Indicators, warned of potential declines to the 2021 all-time high of $69,000. Alan identified strong support at $86,000, with secondary support around $76,000. He highlighted the "head and shoulders" pattern observed by veteran trader Peter Brandt as a potential bearish indicator. |
"BTC has strong technical support around $86k... but the strongest support is at the R/S Flip line at $69k, which was the 2021 Top," Alan wrote on X. |
Market context: Inflation and rate hikes add pressure - Inflation fears have resurfaced following a hotter-than-expected December nonfarm payrolls (NFP) report, with job creation at 256,000 versus the forecasted 164,000. This data reinforces the Federal Reserve's stance on keeping interest rates "higher for longer," reducing hopes for rate cuts in 2025. |
Trading firm QCP Capital noted that potential Trump-era tariffs could further stoke inflation, presenting a test for Bitcoin to prove itself as an inflation hedge. |
What's next? - While bearish sentiment dominates, traders like Daan Crypto Trades see potential parallels with BTC's performance in January 2024, hinting at a possible rebound. However, further macroeconomic surprises could dictate Bitcoin's next moves, with critical support at $86,000 and strong resistance at $90,000. |
BlackRock expands digital asset reach with Bitcoin ETF launch in Canada |
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Key points: |
BlackRock's iShares Bitcoin ETF (IBIT) debuted on January 13 on Cboe Canada, offering Canadian investors exposure to Bitcoin through a US-listed structure. Leveraging Coinbase Prime for custody, IBIT has a 0.32% management fee and is available in CAD and USD classes, starting with CAD 2 million in net assets.
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News: BlackRock enters the Canadian crypto market - Global asset management giant BlackRock has launched the iShares Bitcoin ETF (IBIT) in Canada, marking its latest move in expanding its digital asset offerings. The ETF is listed on Cboe Canada and began trading on January 13, 2025, providing Canadian investors a simplified path to gain Bitcoin exposure without the need for direct ownership. |
Helen Hayes, Head of iShares Canada at BlackRock, expressed her enthusiasm for the launch, emphasizing Cboe's history of delivering innovative products, including spot crypto ETFs in the United States. |
Features and structure of BlackRock's IBIT ETF - The Canadian IBIT ETF seeks to replicate Bitcoin's price performance by investing in the US-listed iShares Bitcoin Trust ETF, leveraging its secure institutional custody through Coinbase Prime. |
Key details of the fund include: |
A management fee of 0.32%. Availability in Canadian dollar (IBIT) and US dollar (IBIT.U) classes. Initial net assets totaling CAD 2 million with 50,000 units outstanding at launch.
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BlackRock's IBIT in the US, which debuted a year ago after SEC approval, has become the largest Bitcoin ETF globally, holding over $52.7 billion in net assets—more than the combined total of all European ETFs. |
What's next? - The launch of IBIT in Canada highlights the growing appetite for institutional-grade Bitcoin investment products in regulated markets. As BlackRock continues to expand its offerings, the move solidifies its position as a leader in the Bitcoin ETF landscape. |
This launch could also catalyze increased adoption and innovation in Canada's crypto investment ecosystem, mirroring the success seen in the US market. |
MicroStrategy's Bitcoin holdings cross 450K as dip buys continue |
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Key points: |
MicroStrategy has exceeded 450,000 Bitcoin in its holdings after purchasing $243 million worth of BTC at an average price of $95,972. Bitcoin exchange reserves hit a seven-year low as hedge funds also buy the dip, signaling potential for a "supply shock."
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News: MicroStrategy hits new milestone in Bitcoin holdings - MicroStrategy, the leading institutional Bitcoin investor, has surpassed a key milestone by acquiring over 450,000 BTC. The company purchased an additional $243 million worth of Bitcoin during a market dip, with an average acquisition price of $95,972 per BTC, according to a January 13 announcement by founder Michael Saylor. |
The company's total Bitcoin investment now stands at $28.2 billion, with an average acquisition cost of $62,691 per coin. This accumulation reinforces MicroStrategy's position as the largest corporate holder of Bitcoin globally. |
Market trends: Supply shock signals ahead? - MicroStrategy's recent purchase coincides with significant activity among global crypto hedge funds, which have also capitalized on the dip. This buying spree has led to Bitcoin exchange reserves plummeting to levels last seen in 2018. |
Decreasing exchange reserves often indicate reduced selling pressure, setting the stage for a potential "supply shock." A supply shock typically occurs when rising demand meets limited availability, pushing prices higher. Analysts predict this dynamic could drive another Bitcoin rally in the coming months. |
Analysis: Macro concerns cast shadows - Despite bullish signs, Bitcoin remains vulnerable to macroeconomic influences. Analysts point to strong U.S. economic data and the Federal Reserve's cautious stance on interest rate cuts as primary drivers of Bitcoin's recent dip below $92,000. |
Bybit Research emphasized that Bitcoin's sensitivity to macroeconomic news has returned, particularly after markets priced in the positive sentiment surrounding Donald Trump's 2024 presidential election victory. The Fed's tightening monetary policy has delayed expectations for rate cuts, with the first reduction now projected for late July. |
Ryan Lee, chief analyst at Bitget Research, noted, "Bitcoin's dip stems primarily from strong US economic data pointing toward potential interest rate hikes. This development makes cryptocurrencies less attractive as investments…" |
What's next? - While macroeconomic uncertainties loom, institutional interest in Bitcoin remains robust. Alongside MicroStrategy, Nasdaq-listed Semler Scientific recently announced its purchase of 237 BTC worth $23.3 million at an average price of $98,267. |
As exchange reserves dwindle and institutional players continue accumulating Bitcoin, market watchers anticipate a rebound, albeit with potential volatility influenced by upcoming economic indicators and Federal Reserve policy decisions. |
FTX to begin $1.2B creditor repayments post-Trump inauguration, potential market ripple ahead |
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Key points: |
FTX to repay users up to $50,000 starting after January 20, coinciding with President-elect Donald Trump's inauguration, fueling speculation about regulatory clarity and crypto growth. Potential $1.2 billion liquidity event for crypto markets, with varied reactions expected based on individual investor risk appetites.
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News: FTX prepares for $1.2 billion distribution - Bankrupt cryptocurrency exchange FTX is set to begin its long-awaited repayments to creditors, with more than $1.2 billion to be distributed. Users with claims of up to $50,000 must fulfill repayment requirements by January 20, 2025, marking a significant milestone for the crypto industry. |
FTX's restructuring plan, approved in October 2024, outlines that 98% of its users will be reimbursed with 119% of the declared value of their funds. However, the repayment model uses cryptocurrency prices from the time of bankruptcy, sparking criticism from some investors as prices for Bitcoin and other assets have significantly increased since November 2022. |
Analysis: Implications for crypto markets - The repayments align with President-elect Donald Trump's inauguration, which has raised expectations for a favorable regulatory environment, including potential moves on the proposed Bitcoin Act. This act seeks to establish a U.S. Bitcoin reserve and could reinforce bullish sentiment in the crypto market. |
Market watchers believe the incoming liquidity from FTX repayments may act as a catalyst for the next leg of the 2025 crypto market cycle, with some forecasting Bitcoin prices to surpass $200,000. However, the effects of this liquidity event will likely vary: |
Short-term market volatility: Smaller investors could sell their recovered funds to secure financial stability, potentially leading to price fluctuations. Long-term faith: Larger investors might reinvest repayments into cryptocurrencies, betting on continued growth.
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Anndy Lian, an intergovernmental blockchain expert, highlighted the possibility of mixed reactions among investors. Comparing the situation to Mt. Gox, he noted that many creditors from the earlier collapse chose to hold onto their coins, banking on future appreciation. |
Market context: Crypto's resilience - The upcoming FTX repayments mirror similar events in the industry, such as Mt. Gox's 2023 Bitcoin distributions. Despite the return of significant BTC holdings, selling pressure was minimal, demonstrating strong investor faith in long-term market potential. |
Philipp Zentner, CEO of LI.FI protocol, emphasized the significance of the FTX repayments as a "macro-positive moment" for the industry, particularly given the current market conditions. |
What's next? - With FTX repayments, the crypto market could experience a significant liquidity influx. Firms like BitGo and Kraken have already pledged support in managing distributions. However, the broader implications hinge on regulatory developments and market sentiment post-inauguration. Analysts will closely monitor whether this event spurs a rally or triggers short-term volatility. |
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More stories from the crypto ecosystem |
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Did you know? |
The first-ever crypto-powered charitable donation was made in 2013 when The Bitcoin Foundation accepted Bitcoin donations for supporting the development of the cryptocurrency. This marked the beginning of cryptocurrency's potential in social good and charity work, with more organizations following suit in later years. In 2021, the Ethereum network burned over 1.5 million ETH due to the introduction of EIP-1559, a proposal that changed the way Ethereum transaction fees work. The change introduced a deflationary mechanism that permanently removes ETH from circulation, contributing to the token's scarcity and long-term value potential. The first major NFT sale for a tweet occurred in 2021, when Twitter co-founder Jack Dorsey sold his first tweet, reading "just setting up my twttr," as an NFT for $2.9 million. This sale helped propel the mainstream interest in NFTs as a new form of digital asset ownership.
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Top 3 coins of the day |
Solidus Ai Tech (AITECH) |
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Key points: |
At press time, AITECH was trading at $0.081, reflecting a 10.07% decrease over the last 24 hours. It ranked as the top trending cryptocurrency on CoinMarketCap.
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What you should know: |
AITECH experienced a sharp 10.07% decline in the last 24 hours, despite being the top trending cryptocurrency on CoinMarketCap. On the daily chart, the Bollinger Bands indicated elevated volatility, with the price hovering close to the lower band at $0.075. This suggested potential oversold conditions, which could prompt a short-term price reversal. The Directional Movement Index (DMI) highlighted a bearish trend, with the -DI line exceeding the +DI line and the ADX at 18.65, signaling a moderate trend strength. The volume spike suggested heightened selling activity, reinforcing the ongoing bearish sentiment. Immediate support lies around $0.075, which aligns with the lower Bollinger Band, while resistance is positioned near $0.095, coinciding with the middle band. Traders should monitor AITECH closely for any sustained recovery or further downside movement. A break below support could lead to further declines toward $0.070, whereas renewed buying pressure might drive the price back to $0.090-$0.095 levels. |
Bitcoin (BTC) |
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Key points: |
At press time, BTC was trading at $90,815, reflecting a 3.95% decrease over the last 24 hours. It ranked as the second most trending cryptocurrency, as per CoinMarketCap's data.
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What you should know: |
Bitcoin faced a significant decline of 3.95%, with the price dropping to $90,815.22 at press time. On the daily chart, the Parabolic SAR displayed bearish dots above the candlesticks, suggesting continued downward momentum. Similarly, the Awesome Oscillator (AO) showed increased bearish momentum, as indicated by prominent red histogram bars, confirming persistent selling pressure. Trading volume remained consistent but lacked bullish strength to counter the ongoing decline. This reflects a cautious sentiment among market participants, with sellers maintaining control of the market. Immediate support lies around $90,000, which represents a key psychological level that could stabilize the price. Resistance is positioned near $96,000, a critical zone for buyers to regain control. Traders should monitor Bitcoin closely, especially as it approaches the $90,000 support level. A break below this support could trigger further declines, potentially testing $85,000, while sustained buying may initiate a recovery toward the $96,000–$100,000 range. |
Virtuals Protocol (VIRTUAL) |
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Key points: |
At press time, VIRTUAL was trading at $2.32, reflecting a 13.55% decrease over the last 24 hours. It ranked as the second biggest loser in the market, as per CoinMarketCap's data.
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What you should know: |
VIRTUAL experienced a significant drop in the past 24 hours, shedding 13.55% of its value. The daily chart indicated a bearish trend, with the price dipping further below the SMA 9 line at $3.26, signaling ongoing selling pressure. The RSI dropped to 36.96, nearing oversold conditions, which could suggest that sellers have been dominating the market. Trading volume remained consistent but showed no major spikes, highlighting the lack of strong buying interest to counteract the downtrend. Immediate support is observed around the $2.00 level, while resistance is positioned near the $3.50 zone, aligned with the SMA. A break below the current support level could result in further losses, while a sustained recovery might test the resistance at $3.00. Traders should closely monitor RSI movements and volume spikes for potential trend reversals. |
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