Bitcoin Remains Above $100K Ahead of MicroStrategy Shareholder Vote
Bitcoin remains above $100,000 despite President Trump's inauguration speech omitting references to cryptocurrencies. Key points include:
- VET, ENA, LINK, and LDO experienced notable gains.
- Increased volatility expected in the bitcoin options market.
- MicroStrategy's shareholder vote on expanding shares for bitcoin purchases is today.
- The Bank of Japan may raise rates, impacting risk assets, including cryptocurrencies.
- Trump's potential tariffs on Canada and Mexico add uncertainty to markets.
- Despite initial concerns, Bitcoin stayed above $101K following the inauguration.
Upcoming events to monitor:
- Jan. 21: MicroStrategy shareholders vote on authorized share capital increase.
- Jan. 23: SEC deadline for Grayscale Solana Trust ETF listing proposal.
- Jan. 25: SEC decisions on four spot solana ETF proposals.
- Feb. 4: MicroStrategy Q4 2024 earnings report.
Market movements show:
- BTC down 0.3% at $103,280.72.
- ETH down 0.43% at $3,307.05.
- CoinDesk 20 index down 1.27%.
Open interest in TRUMP futures increased by 8%, while AAVE saw price rises alongside open interest uptick.
Notably:
- A rug pull involving a BARRON token resulted in losses exceeding $1 million.
- BTC dominance stands at 58.70, with a hashrate of 786 EH/s.
Investors should remain vigilant regarding potential market fluctuations due to these developments.