The global cryptocurrency market cap now stands at $3.13T, down by -1.43% over the last day, according to CoinMarketCap data. Bitcoin (BTC) has been trading between $95,688 and $97,323 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $96,992, up by 0.83%. Most major cryptocurrencies by market cap are trading mixed. Market outperformers include BNX, ME, and RPL, up by 191%, 46%, and 43%, respectively. Top stories of the day: Crypto Market May Be Nearing a Local Bottom Amid Bearish Sentiment, Crypto VC Says Meme Coins Educate More on Market Basics Than Traditional Systems, Says ETF Store President Strategy's Financial Report Highlights Shareholder Dilution as BTC Gain U.S. University Endowments Increase Cryptocurrency Investments Bitcoin's Mining Difficulty Set for Increase Amid Record Hashrate Montana House Proposes Bill for Bitcoin Investment Solana Network Sees Rapid Growth With Over 5 Million New Addresses Daily Bitcoin News: Bitcoin at Risk of $1.3 Billion Liquidation as It Clings to $93K Amid Trade War Fears Market movers: ETH: $2659.9 (+1.56%) XRP: $2.4699 (+3.22%) SOL: $202.02 (+4.45%) BNB: $644.53 (+11.34%) DOGE: $0.25656 (+3.54%) ADA: $0.701 (+0.82%) TRX: $0.2363 (+1.16%) TRUMP: $16.95 (-0.12%) WBTC: $96837.27 (+0.84%) LINK: $18.77 (+4.05%) Top gainers on Binance: BNX/USDT (+191%) ME/USDT (+46%) RPL/USDT (+43%)

Odaily Planet Daily News According to Lookonchain monitoring, XX (@XXAntiWar) spent $7.3 million to buy $TRUMP on January 18 and January 19, and sold it for about $34.8 million, making more than $27 million in just 2 days. About 13 hours ago, he spent 5,089 $BNB (3.13 million US dollars) to buy 16.25 million $TST (8.4 million US dollars), and currently has not realized a profit of $5.25 million.

Odaily Planet Daily News: According to on-chain data, about three minutes ago, a whale transferred about 3.866 million TST to Binance, worth about 2 million US dollars.

Odaily Planet Daily News: The People's Court of Tongzhou District, Nantong City, Jiangsu Province, heard a case of converting virtual currency investment funds into loans, and finally rejected the plaintiff's request for repayment. Han and Ji are friends. Ji told Han that investing in a virtual currency called Tether is very profitable. He only needs to use 15,000 yuan to buy 2,000 Tethers on a certain platform, and he can quickly make more than 100,000 yuan. Ji used Han's mobile phone to help him buy 2,000 Tethers on a certain platform, and said that he could help Han to manage it, so he transferred the 2,000 Tethers to his own account. When the day came for the income, Ji was slow to fulfill his promise. Because he couldn't even get the principal, Han called the police. Afterwards, Han and Ji reached an agreement to convert the previous virtual currency transaction relationship into a loan relationship. Ji issued a promissory note for 15,000 yuan to Han and promised to repay Han. After that, Ji still did not repay the money, so Han sued Ji to the court. In this case, Han claimed that in the loan between him and Ji, he delivered Tether to Ji through an investment platform, and used this as the basis for the loan delivery. However, Tether is not a legal tender, has no legal compensation, and cannot be circulated and used as currency in the market, so it cannot be regarded as Han has fulfilled the obligation to deliver the loan in the loan agreement. Therefore, the loan agreement between the two parties is not established. Han's claim for repayment from Ji based on the loan agreement has no factual and legal basis. Even if, as Han said, Ji induced Han to invest in the purchase of the funds involved and transferred the purchased Tether to Ji's account for his custody, the two parties formed a virtual currency transaction relationship and converted it into a loan relationship after settlement between the two parties, but based on Han's negative evaluation that the law does not protect the funds handed over to Ji for speculation in virtual currency and the related property rights and interests, the People's Court will not protect it, and the losses incurred should be borne by Han himself. The court ruled to dismiss the plaintiff Han's lawsuit in accordance with the law. (China Court Network)

According to PANews, within three weeks of U.S. President Donald Trump launching a meme coin, over 700 altcoins and junk coins have been sent to his digital wallet. The official wallet now contains 736 different memecoins. Nearly 200 of these, including names like 'OFFICIAL TRUMP' and 'OFFICIAL MELANIA,' are named after Trump or his family but have no official connection to the president. Among the 192 tokens named after Trump or his family, 167 are altcoins, and 67 use the term 'official' in their names. Additionally, 35 tokens reference 'Elon' or 'Musk,' alluding to Tesla CEO and Trump ally Elon Musk. Unauthorized tokens also target Trump's children, with 30 mentioning Barron, 26 mentioning Ivanka, and 10 mentioning Eric. Eswar Prasad, a senior fellow at the Brookings Institution, commented that Trump's involvement in meme coins has 'opened the floodgates for deception and rampant speculation,' warning that ordinary investors purchasing these coins face significant risks.

According to Cointelegraph, the crypto market might be approaching a local bottom, as suggested by Felix Hartmann, founder of Hartmann Capital. Hartmann pointed to extended negative funding rates and widespread bearish sentiment as indicators of this potential shift. He expressed his views in a February 8 post on X, suggesting that these conditions often signal a market bottom. Hartmann highlighted that crypto funding rates, which are payments designed to align futures and spot market prices, have been negative for some time. This indicates a predominance of sellers over buyers, which can suggest bearish sentiment among traders. Such sustained negative funding rates may hint at a market bottom and the possibility of a near-term rebound. Additionally, Hartmann noted that "quality alts" have retraced to long-term trendlines, erasing most of the gains made in the fourth quarter of 2024. For instance, Ether (ETH) was trading above $4,000 in December 2024, with speculation about retesting its November 2021 all-time high of $4,878. However, it has since fallen to $2,639. Similarly, Solana (SOL) reached a new all-time high of $295 on January 19 but has since decreased to $201.15. The overall market cap of memecoins also declined by 32.38% by the end of December 2024. Crypto analyst Matthew Hyland recently commented that the market might not revisit those December highs for most altcoins for at least two months, if not longer. Hartmann further mentioned that the overall crypto sentiment is "absolutely wrecked," which he believes is often a positive signal. The Crypto Fear and Greed Index, which measures market sentiment, currently reads a "Fear" score of 46, down from last week's "Greed" score of 60. Echoing this sentiment, crypto analyst Mike Alfred noted in a January 21 post that the "terrible" sentiment in the crypto market is reminiscent of setups for prior major sector-wide rallies. Bitwise's chief investment officer, Matt Hougan, observed that retail sentiment is at its lowest in years, while professional investors remain "extraordinarily bullish," creating a significant disconnect between the two groups. Hartmann suggested that while the crypto market may continue to experience volatility, this could be the "tail end" as most unlocked venture capital token allocations have already been "dumped" in the past two quarters. Between March and October 2024, token unlocks released $35 billion worth of assets, significantly increasing market supply.

This week, 23 blockchain startups raised a total of $131.2 million in funding. The largest funding round this week: Taproot raised $30 million in a public fundraising round.

According to Odaily, Nate Geraci, President of The ETF Store, expressed on X that meme coins are teaching more people about trading, liquidity, and overall market structure compared to traditional public school systems, despite the two not being particularly similar.

Odaily Planet Daily News: Concerns about the tariff war have been lingering in the minds of global investors over the past week, and Trump's erratic style of behavior has exacerbated market volatility. At the same time, the latest non-farm data and the University of Michigan consumer survey have further clouded the Fed's interest rate cut prospects. Trump will hardly leave the market a chance to blink in the coming week, and further news on his tariff plan will continue to attract close attention. In addition, US inflation data and Fed Chairman Powell's trip to Capitol Hill may be the key to influencing US interest rate cut expectations in the near future. The following are the key points that the market will focus on in the new week: Monday 22:00, ECB President Lagarde participates in the plenary debate on the ECB's 2023 annual report Tuesday 0:00, US January New York Fed 1-year inflation expectations Tuesday 21:50, Cleveland Fed President Hammack speaks on the economic outlook Tuesday 23:00, Fed Chairman Powell attends Senate hearing and delivers semi-annual monetary policy testimony Wednesday 4:30, FOMC permanent voting member, New York Fed President Williams speaks Wednesday 21:30, US January CPI, core CPI Wednesday 23:00, Fed Chairman Powell delivers semi-annual monetary policy testimony to the House Financial Services Committee Thursday 1:00, 2027 FOMC voting member, Atlanta Fed President Bostic speaks on the economic outlook Thursday 21:30, US to February Initial jobless claims for the week ended 8th Thursday 21:30, US January PPI annual rate, monthly rate Friday 21:30, US January retail sales monthly rate Friday 22:15, US January industrial output monthly rate Several Wall Street analysts warned that January is traditionally a more challenging period for forecasting CPI due to seasonal factors, which increases the likelihood of market volatility when data is released. According to the Cleveland Fed's inflation Nowcasting indicator, the overall CPI growth rate in January is expected to be 2.85% year-on-year, and the core CPI growth rate is 3.13% year-on-year, only slightly slower than the previous month. This should strengthen market expectations that the Fed will keep interest rates stable at the March meeting. (Jinshi)

According to PANews, global investors have been on edge over the past week due to concerns about the ongoing tariff war, with U.S. President Donald Trump's unpredictable actions adding to market volatility. The latest non-farm payroll data and the University of Michigan consumer survey have further clouded the Federal Reserve's outlook on interest rate cuts. In the coming week, Trump's tariff plans are expected to remain a focal point for market watchers. Additionally, U.S. inflation data and Federal Reserve Chair Jerome Powell's visit to Capitol Hill could significantly influence expectations for future rate cuts. Key events for the upcoming week include: - Monday 22:00 (UTC+8): European Central Bank President Christine Lagarde participates in a plenary debate on the ECB's 2023 annual report. - Tuesday 0:00 (UTC+8): U.S. January New York Fed 1-year inflation expectations. - Tuesday 21:50 (UTC+8): Cleveland Fed President Loretta Mester speaks on economic outlook. - Tuesday 23:00 (UTC+8): Fed Chair Jerome Powell testifies at the Senate hearing, presenting the semi-annual monetary policy testimony. - Wednesday 4:30 (UTC+8): FOMC permanent voter and New York Fed President John Williams delivers a speech. - Wednesday 21:30 (UTC+8): U.S. January CPI and core CPI data release. - Wednesday 23:00 (UTC+8): Fed Chair Powell testifies before the House Financial Services Committee. - Thursday 1:00 (UTC+8): 2027 FOMC voter and Atlanta Fed President Raphael Bostic discusses economic outlook. - Thursday 21:30 (UTC+8): U.S. initial jobless claims for the week ending February 8. - Thursday 21:30 (UTC+8): U.S. January PPI year-over-year and month-over-month data. - Friday 21:30 (UTC+8): U.S. January retail sales month-over-month data. - Friday 22:15 (UTC+8): U.S. January industrial production month-over-month data. Several Wall Street analysts have cautioned that January is traditionally a challenging month for predicting CPI due to seasonal factors, which could increase market volatility upon data release. According to the Cleveland Fed's inflation Nowcasting indicator, January's overall CPI is expected to rise by 2.85% year-over-year, with core CPI increasing by 3.13%, showing only a slight deceleration from the previous month. This is likely to reinforce market expectations that the Federal Reserve will maintain stable interest rates at its March meeting.

BNB is by far the top performer from the larger-cap alts. source: https://cryptopotato.com/binance-coin-soars-by-double-digits-bitcoin-taps-97k-weekend-watch/

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