Bitcoin, Ethereum, XRP, Dogecoin Reverse 'Red Monday' On Bullish Trump News

Author: Khyathi Dalal | January 13, 2025 05:49pm

Cryptocurrency markets reversed a weak start to the week on news that Donald Trump reportedly plans signing sseveral crypto-related executive orders on his first day in office.

Cryptocurrency	Price	Gains +/-
Bitcoin (CRYPTO: BTC)	$94,357	-0.1%
Ethereum (CRYPTO: ETH)	$3,117	-4.5%
Solana (CRYPTO: SOL)	$181.90	-3.3%
XRP (CRYPTO: XRP)	$2.54	+0.9%
Dogecoin (CRYPTO: DOGE)	$0.3358	-0.0%
Shiba Inu (CRYPTO: SHIB)	$0.00002108	-2.2%

Notable Statistics:

• IntoTheBlock data shows large transaction volume increasing by 9.2% and daily active addresses up by 6.4%. Transactions greater than $100,000 are down from 7,112 to 6,648 in a single day. Exchanges netflows are down by 147.8%.
• Coinglass data reports 273,610 traders were liquidated in the past 24 hours for $764.74 million. Long liquidations of $587.9 million came in at a three-week high.
• Crypto chart analyst Ali Martinez noted Bitcoin network activity having fallen to its lowest level since November 2024, with just 667,100 active addresses.
• In another tweet, he sees number of large transactions on the Bitcoin network has decreased by 51.64% over the past month, dropping from 33,450 to 16,180.

Notable Developments:

• Tether To Relocate Headquarters To El Salvador
• Bitcoin’s 2024 Revolution: ETPs Double Crypto Market Cap, Big Winners Emerge
• Jamie Dimon Says He’s Not Against Blockchains But Trades Guns On Bitcoin Again—It Has No Intrinsic Value: ‘I Just Don’t Feel Great About…’
• Donald Trump Jr. Joins Kalshi Prediction Market As Strategic Advisor
• MicroStrategy Acquires 2,530 Bitcoin For $243M, Reaching 450,000 BTC In Total Holdings

Top Losers:

Cryptocurrency	Price	Gains +/-
DeXe (CRYPTO: DEXE)	$13.57	-16%
Ethena (CRYPTO: ENA)	$0.7651	-14.5%
Bitcoin SV (CRYPTO: BSV)	$51.36	-12.1%

Trader Notes: With Bitcoin prices dropping, crypto trader Jelle suggested it could be a "Red Monday, green week."

In another tweet, he highlighted that Bitcoin's daily candle is shaping up well, noting that a close above $92,500 would increase the likelihood of marking a bottom.

Daily candle shaping up nicely with four hours to go.

Close above $92,500 and odds are high that was the bottom.

Let's see! #Bitcoin pic.twitter.com/GtgbaUKMaC

— Jelle (@CryptoJelleNL) January 13, 2025

Crypto trader Rekt Capital emphasized the importance of a daily close above ~$91,000 to sustain the $91,000-$101,000 range and preserve the early-stage higher low on the RSI.

Meanwhile, crypto trader Seth views $170,000 as a conservative Bitcoin top target within a broader $150,000-$300,000 range.

This aligns with historical bull cycles where Bitcoin often overshoots expectations, depending on liquidity influx.

Seth added that if $170,000 is treated as a baseline, there's potential for further upside driven by macro conditions, institutional adoption, or retail FOMO.

Key factors like halving effects and global liquidity will play a major role in determining how realistic this target is.

Read Next: 

• Bitcoin’s Big Macro Data Week: Here’s What To Watch

Image: Shutterstock

Posted In: $BSV $BTC $DEXE $DOGE $ENA $ETH $SHIB $SOL $XRP