XRP and AI Coins Anticipate Growth Amid Bitcoin Stability Before CPI Release
The U.S. is set to release December CPI data, a crucial event for the crypto market amid concerns over hawkish Federal Reserve policies and a strong correlation between bitcoin and tech stocks. Key points include:
- Market sentiment is cautious with BTC options indicating potential downside volatility.
- Expectations for higher CPI numbers may trigger a rally if inflation readings are softer than anticipated.
- XRP has surged to $2.90, indicating bullish momentum, while AI-related cryptocurrencies have attracted dip buyers.
Upcoming Events
- Jan. 15: Degen liquidity mining airdrop.
- Jan. 15: Mintlayer version 1.0.0 release for BTC cross-chain swaps.
- Jan. 17: Court hearing in KalshiEX LLC v. CFTC.
- Jan. 23: SEC decision deadline on Grayscale Solana Trust ETF proposal.
- Jan. 25: SEC decisions on four new spot Solana ETFs.
Market Movements
- BTC increased by 0.51% to $96,951.13.
- ETH decreased by 0.24% to $3,207.75.
- Gold rose by 1.28% to $2,646.45/oz.
- U.S. 10-year Treasury yield fell to 4.77%.
Token Unlocks
- Connex (CONX) unlocking 376% of its supply worth $84.5 million on Jan. 15.
- Arbitrum (ARB) unlocking 2.2% valued at $68 million on Jan. 16.
- Ondo (ONDO) unlocking 134% worth $2.19 billion on Jan. 18.
Technical Analysis
XMR shows bullish potential after breaking a consolidation pattern, targeting resistance at $289.
Crypto Equities
- MicroStrategy closed at $342.17 (+4.19%).
- Coinbase closed at $255.37 (+1.66%).
- Galaxy Digital closed at C$26.6 (+2.15%).
Whale Activity
Whales continue to reduce holdings of wrapped bitcoin (WBTC), now at 70.33K WBTC, the lowest in four years.