Crypto Price Analysis 1-21: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, DOGECOIN: DOGE, CELESTIA: TIA, ARBITRUM: ARB, COSMOS: ATOM
Bitcoin (BTC) has registered a notable decline after surging to a new all-time high on Monday. BTC rose sharply on Monday to register a new all-time high of $109,114 in the lead-up to Donald Trumps inauguration. However, it has declined since, dropping to a low of $100,351 before recovering and reaching its current level of $102,558. BTCs price action since Trumps inauguration seems anticlimactic, given many were expecting prices to skyrocket.
The crypto market has remained relatively muted since the inauguration, with most cryptocurrencies marginally down or high. Ethereum (ETH) faced considerable volatility over the past week and has slipped below $3,300 to trade around $3,250. Ripple (XRP) registered a marginal rise over the past 24 hours, up nearly 23% over the past week. Solana (SOL), Dogecoin (DOGE), Cardano (ADA), Stellar (XLM), and Hedera (HBAR) registered declines, while Chainlink (LINK), Tron (TRX), Toncoin (TON), and Polkadot (DOT) registered marginal increases.
Donald Trump Meme Coin Saps Market
US President Donald Trumps meme coin debuted on January 18, days before he assumed office. The token saw billions of dollars pour in and at the time of writing, has a market cap of just under $7 billion. The TRUMP token hit a peak value of $75 before dropping, thanks in part to the launch of the MELANIA meme coin by First Lady Melania Trump. The token garnered significant attention as traders flocked to purchase it, leading to a considerable drop in TRUMPs value.
According to reports, the two meme coins have rattled the wider cryptocurrency market, with major players including Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) registering declines. The drop can be attributed to retail capital being diverted from traditional tokens to the new meme coins as traders rush to make a profit.
Trumps net worth has skyrocketed since the launch of the meme coin, with its market capitalization hitting a peak of $14 billion before declining to its current level. The Trump familys primary crypto project, World Liberty Financial, launched last September, raising over $300 million in sales so far, according to data from Arkham Intelligence. The Trump family gets 75% of World Liberty token revenue. The project has transferred millions of dollars worth of tokens to Coinbases institutional custody provider.
Were making routine movements of our crypto holdings as part of regular treasury management, payment of fees and expenses, and to address working capital requirements.
Circle CEO Expects Imminent Crypto-Focused Executive Orders
Circle CEO Jeremy Allaire expects several crypto-focused executive orders from President Donald Trump, allowing banks to trade crypto, offering crypto services to high-value clients, and holding cryptocurrencies in their portfolios. Trump has promised to be a crypto president, and the industry expects the issuance of several executive orders to reduce regulatory roadblocks and promote the adoption of digital assets. Allaire said he would like the Securities and Exchange Commissions Staff Accounting Bulletin 121 repealed. According to Allaire, the act made it punitive for banks and financial institutions to hold crypto on their balance sheets.
That's something I think I should watch closely in terms of EOs (executive orders). I'm strongly in favor of repealing it, and I would hope that President Trump would take that action.
Allaire also expects Congress to be proactive about digital asset regulations under President Trump over the next few weeks.
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) surged to a new all-time high on Monday, hours before Donald Trumps inauguration, as positive market sentiment bumped prices higher. As a result, BTC surged to $109,114, surpassing its previous ATH of $108,000 set in December 2024. The rally has been attributed to growing speculation about crypto-friendly policies under the new administration and the establishment of a Bitcoin reserve. Speculations about a Bitcoin reserve drew considerable interest on the crypto-based prediction platform Polymarket, with odds increasing substantially. However, BTC declined rapidly after setting a new all-time high, dropping sharply to its current level of $102,190, although overall market sentiment remains bullish.
BTCs price chart shows a marginal decline during the ongoing session as sellers attempt to lower the price after Mondays rally. BTCs price action has been on an upward trajectory since last week despite starting on a bearish note. BTC plummeted below $90,000 last Monday, dropping to an intraday low of $89,397. However, buyers bought the dip, allowing BTC to recover and reclaim $90,000. BTC ultimately settled at $94,492, ending the session only marginally down. The price recovered substantially on Tuesday, rising just over 2% to move past the 20-day SMA and settle at $06,566. Bullish sentiment intensified on Wednesday as BTC surged past the 50-day SMA, rising nearly 4% to go above $100,000 and settle at $100,050. Despite considerable bullish sentiment, BTC lost momentum on Thursday, dropping to an intraday low of $97,094 before recovering to settle at $99,798, registering a marginal decline.
Source: TradingView
BTC bounced back on Friday, reclaiming the $100,000 level after an increase of almost 4% and settling at $103,732. Buyers attempted to drive the price below $100,000 on Saturday as BTC dropped to an intraday low of $101,591. However, it recovered from this level to settle at $103,579, ultimately registering only a marginal decline. Sunday saw a substantial jump in volatility as BTC reached an intraday high of $106,552 and fell to an intraday low of $99,766. The price ultimately settled at $101,434, registering a drop of just over 2%. The current week began with bulls dominating as BTC surged to a new all-time high of $109,350. However, it lost momentum after reaching this level and settled at $102,408, an increase of almost 1%.
The current session sees BTC down nearly 1%, falling to an intraday low of $100,173 before moving to its current level. Sellers will look to drive BTC below $90,000. However, if buyers regain control, BTC could attempt a move to $110,000, setting another all-time high.
Ethereum (ETH) Price Analysis
Ethereum (ETH) is back in the red during the ongoing session after buyers lost momentum following Mondays rally. As a result, ETH has dipped below $3,200, with sellers looking to lower the price. ETH started the previous week on a bearish note, dropping to an intraday low of $2,927 on Monday. It recovered from this level to reclaim $3,000 and settle at $3,137, ultimately registering a drop of almost 4%. Markets recovered on Tuesday as ETH rose nearly 3% to $3,226. Bullish sentiment intensified on Wednesday as ETH registered an increase of 6.33% to surge past the 20-day SMA and settle at $3,450. However, sellers returned on Thursday as ETH dropped over 4%, slipping below the 20-day SMA to $3,308.
Source: TradingView
ETHs topsy-turvy price action continued on Friday as it registered an increase of nearly 5% to go back above the 20-day SMA and settle at $3,473. Bearish sentiment returned over the weekend as ETH dropped 4.84% on Saturday to go below the 20-day SMA and settle at $3,305. Markets saw substantial volatility on Sunday as buyers attempted a recovery while sellers tried to drag ETH towards $3,000. As a result, ETH surged to an intraday high of $3,446 and fell to an intraday low of $3,125 before ultimately registering a drop of 2.82% and settling at $3,212. ETH started the current week by surging to an intraday high of $3m336. However, buyers lost momentum after reaching this level, and ETH declined to settle at $3,280, registering an increase of 2.13%. ETH is back in the red during the ongoing session, with the price down 1.12% and trading around $3,243.
Solana (SOL) Price Analysis
Solana (SOL) surged to a new all-time high of $295 thanks to its blockchain hosting the hugely successful TRUMP and MELANIA meme coins. The launch of both tokens took place within hours of one another and drove considerable demand, not just for themselves but also for the SOL token. Such was the enthusiasm that the Solana Network had to grapple with another outage as traders flocked to SOL, while trading volume for the TRUMP and MELANIA meme coins reached a combined $20 billion.
SOL had made a strong recovery after dropping to an intraday low of $169 last Monday. The price recovered from this level to settle at $182, declining nearly 3%. Market sentiment changed on Tuesday as SOL rose 2.58% and moved to $187. Bullish sentiment increased substantially on Wednesday as SOL crossed the 20-day SMA and $200 to settle at $205. SOL experienced volatility on Thursday as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand, pushing SOL past the 50-day SMA to $211. Buyers retained control on Friday as SOL registered an increase of 4% and moved to $219.
Source: TradingView
SOL skyrocketed over the weekend, surging an incredible 19.19% on Saturday to move past $250 and settle at $261. Bullish sentiment persisted on Sunday as SOL set a new all-time high of $295, with buyers attempting to surge past $300. However, SOL lost momentum after reaching this level, ultimately dropping nearly 4% and settling at $252. The current week began with SOL experiencing significant volatility as buyers attempted a recovery and sellers sought to lower the price. Sellers ultimately gained the upper hand, and SOL registered a decline of just over 4% to settle at $214. The current session sees SOL down just over 2% and trading around $236.
Dogecoin (DOGE) Price Analysis
Dogecoin (DOGE) has been trading in the red since the weekend, declining significantly and slipping below key support levels and moving averages. DOGE was bullish the previous week, starting with a marginal increase on Monday. This increase came despite the price dropping to an intraday low of $0.309 before recovering to settle at $0.338. DOGE continued to push higher on Tuesday, rising 4.99% to move past the 20-day SMA and settle at $0.355. Bullish sentiment intensified on Wednesday as DOGE rose more than 8% to surge past the 50-day SMA and settle at $0.384. Bulls lost momentum on Thursday, allowing sellers to lower the price by 2% to $0.377.
Source: TradingView
The price recovered on Friday, rising over 10% to go above $0.40 to settle at $0.415. Buyers attempted to push higher on Saturday as DOGE rose to an intraday high of $0.435. However, it lost momentum after reaching this level, allowing sellers to take over. As a result, DOGE dropped nearly 5% to slip below $0.40 and settle at $0.395. Bearish sentiment intensified on Sunday as DOGE plummeted almost 10% to slip below the 20 and 50-day SMAs and settle at $0.357. Buyers attempted a recovery on Monday as DOGE reached an intraday high of $0.385 before losing momentum. As a result, DOGE ultimately registered a marginal decline and settled at $0.354. The current session sees DOGE down over 3% as sellers look to drive the price below $0.30.
Celestia (TIA) Price Analysis
Celestia (TIA) has been trading in the red since the weekend and could go below a crucial support level if sellers retain control. TIA had registered a substantial drop at the beginning of last week, falling just over 6% to $4.61. Despite a bearish start, TIA recovered on Tuesday, rising 3.44% to $4.77. Bullish sentiment registered a substantial increase on Wednesday as TIA surged nearly 10% to move past the 20-day SMA and a key resistance level to settle at $5.23. Bearish sentiment returned on Thursday as TIA dropped 4.27% to $5.01. However, buyers prevented a further decline as TIA recovered on Friday, rising over 7% to $5.38.
Source: TradingView
Market sentiment changed over the weekend as TIA plummeted nearly 10% to slip below the 20-day SMA and $5 to settle at $4.85. Buyers attempted a recovery on Sunday but were unsuccessful as they lost momentum at $5.27. Sellers ultimately drove TIA down by 4.29% to $4.64. TIA faced significant volatility at the beginning of the current week as buyers attempted another recovery. As a result, TIA reached an intraday high of $5.20 before losing momentum and dropping to $4.61, registering a marginal decline. The current session sees TIA down marginally as sellers look to drive it below a key support level at $4.50.
Arbitrum (ARB) Price Analysis
Arbitrum (ARB) rebounded from a key support level on Tuesday, recovering from Mondays intraday low of $0.65. The price registered an increase of just over 5% Tuesday to settle at $0.738. Bullish sentiment intensified on Wednesday as ARB surged over 7% to move past a key resistance level and the 20-day SMA and settle at $0.791. However, it was back in the red on Thursday, dropping 4.36% to $0.757. Buyers returned to the market on Friday as ARB rose nearly 8% to move past the 20-day SMA and settle at $0.815.
Source: TradingView
Sellers returned to the market over the weekend as ARB dropped nearly 6%, slipping below the 20-day SMA and settling at $0.766. Selling pressure intensified on Sunday as the price plummeted almost 9% to go below $0.70 and settle at $0.698. The current week began with the price experiencing significant volatility as buyers attempted a recovery. ARB rose to an intraday high of $0.759 before losing momentum and dropping to $0.697, registering a marginal decline. The current session sees ARB down by 1.45% and trading around $0.688. Sellers will look to retain control and drive ARB below the 200-day SMA.
Cosmos (ATOM) Price Analysis
Cosmos (ATOM) is struggling to move past the resistance at $7. ATOM started the previous week in the red, dropping nearly 3% on Monday and registering a marginal decline on Tuesday to settle at $6.26. The price recovered on Wednesday, rising over 6% to $6.66. However, it could not go beyond the 20-day SMA and fell 1.11% to $6.58 on Thursday. ATOM rebounded on Friday, surging past the 20-day SMA and $7 to settle at $7.05.
Source: TradingView
However, with sellers active at this level, ATOM fell over the weekend, slipping below the 20-day SMA on Saturday and settling at $6.58. Selling pressure increased substantially on Sunday as ATOM fell 10.59%, going below $6 and settling at $5.89. The current week began with ATOM witnessing significant volatility as buyers and sellers attempted to establish control. Buyers ultimately gained the upper hand as ATOM rose to an intraday high of $6.50 before settling at $6.06, registering an increase of 2.89%. The current session sees ATOM down over 1% as sellers look to push the price below the 200-day SMA.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Text source: Crypto Daily™
