Snapshot 241

The Week in Crypto: Bitcoin’s Bounce and Market Movements

Hello SnapShotters!

This week has been monumental for Bitcoin, as it surged to a two-month high just above $97,000. This latest uptick in the market broke through the critical resistance level of $94,500—a threshold that had deterred gains on three previous occasions in the past two months. The breakthrough not only signifies renewed investor optimism but also triggered a significant wave of activity in the futures market, with over $500 million in positions liquidated. Interestingly, the majority of these forced closures were from short positions, suggesting that many traders may have bet against the market’s upward momentum.

Market Sentiment Shifts

Traders have pointed out that the recent rally follows a period of exhaustion in over-sold conditions, particularly after the massive liquidation event in October 2025. This pivotal moment is reflected in the Fear & Greed index, which saw a sharp rise from 26 (signifying fear) to 61 (indicating greed) from January 13 to 15. Such indices are critical as they encapsulate market psychology and can be a leading indicator for future price movements.

In addition, the release of December’s U.S. Consumer Price Index (CPI) data has added another layer of context to the market’s rally. The CPI maintained a steady year-over-year inflation rate of 2.7%, exactly aligning with market expectations. Following this data release, U.S. President Donald Trump took to social media to amplify his calls for Federal Reserve Chair Jerome Powell to reconsider the ongoing monetary policy. Analysts and prediction markets are largely anticipating that the Fed will hold interest rates steady at its forthcoming Federal Open Market Committee (FOMC) meeting later this month.

Altcoin Action

While Bitcoin’s performance is noteworthy, the action doesn’t stop there. Altcoins have been making moves as well, with tokens like DASH and OP joining meme favorites such as PEPE and PENGU in attracting capital rotation into high-beta assets. This diversification indicates a growing appetite among traders for higher risk investments after periods of market consolidation.

As we look forward to the Q1 corporate earnings season, significant tech earnings—most notably NVIDIA’s anticipated report in February—will likely play a crucial role in charting the next leg of market direction. BTC’s capacity to sustain its position and push towards the $100,000 mark will be critical in determining whether this breakout is a genuine turnaround or simply another false dawn in a marketplace still grappling with aftershocks from the 2025 deleveraging event.

Market Spotlight

For real-time insights, you can view current market prices at Crypto.com/Price.

If you’re looking for deeper analysis, subscribe to our weekly updates on the Market and DeFi from Crypto.com’s Research Team.

News Highlights

🕵️ Monero Hits a New Record
Monero (XMR) has pushed above $700, reaching its highest price in eight years. Privacy-focused tokens have seen enhanced performance since late 2025, indicating a growing demand for privacy in digital finance.

🏦 BitMine Surpasses 1 Million ETH Staked
Ethereum treasury firm BitMine crossed the 1 million staked ETH mark, after recently adding about 86,400 ETH over a single weekend. However, its share prices remain significantly below the peaks observed in 2025, reflecting broader market conditions.

🏠 Crypto in European Real Estate
High-net-worth investors are increasingly turning to crypto for real estate transactions across Europe. Utilizing stablecoins like USDC as payment methods speeds up cross-border settlements while minimizing currency conversion hassles.

💼 BitGo Aims for $2 Billion IPO
BitGo is setting its sights on a U.S. IPO, targeting to raise up to $201 million, with a valuation around $1.96 billion on the NYSE. This effort illustrates the continuing trend of investor preference for regulated crypto infrastructure as the sector matures.

📈 Standard Chartered’s New Crypto Prime Broker
In a notable development, Standard Chartered is launching a crypto prime brokerage under its SC Ventures arm, aiming to provide comprehensive services such as custody, trading, and financing for institutional clients. This positioning helps the bank manage capital rules while establishing itself as an early adopter of digital asset services.

What’s Ahead

The upcoming FOMC meeting on January 27-28 will be pivotal for market participants. The consensus appears to lean toward maintaining current interest rates after multiple cuts were made in late 2025. Therefore, investors will closely monitor the committee’s statement for any signals regarding future monetary policy adjustments, particularly given the current federal funds target between 3.5% to 3.75%.

Crypto Trivia of the Week

Which country was the first to explicitly allow salaries to be paid in cryptocurrency under a 2019 tax ruling?
A) Japan
B) Portugal
C) New Zealand

Find the answer at the end of this newsletter.

NFT Spotlight: Survival Battle: Motto 7777

Explore a unique NFT drop titled ‘Survival Battle: Motto 7777’, featuring a collaboration between electronic music producer Haz Haus and multimedia artist Sean Woong. The drop includes 7,777 hand-rendered avatars, each accompanied by a downloadable soundtrack and mini-games. Collectors engaging with this drop have opportunities for CRO rewards and limited-edition merchandise.

Product Updates

New VIP Experience
Crypto.com Exchange has advanced its VIP trading experience, now offering unified Spot and Derivatives tiers, automated updates, and improved referral benefits, allowing users to earn up to 50% commission in USDC while their referees enjoy significant fee rebates.

Security Awareness

In a concerning incident, a Canadian investor lost approximately $1.2 million to a deepfake crypto scam involving manipulated videos of Elon Musk. Scammers utilized polished visuals and consistent communication to build trust, demonstrating the growing sophistication of scams within the crypto landscape.

Keep Your Funds Safe:

1. Exercise caution with repeated or escalating investment requests.
2. Avoid reliance solely on advice from online sources, even if associated with high-profile figures.
3. Independently verify platforms and investment opportunities before transferring substantial funds.

Trivia Answer

C) New Zealand ✅
New Zealand became the first country to allow salaries to be paid in cryptocurrency, following a ruling from the Inland Revenue Department in August 2019.

That wraps up this week’s SnapShot. Stay tuned and find out what’s trending in the ever-evolving world of cryptocurrency!