Bitcoin Flirts With $100,000

Bitcoin experienced a volatile week, surging to $99.7k as it approached the critical $100k psychological level. As anticipated, sellers front-ran the milestone, creating significant resistance just below this mental barrier. After topping at $99.7k, Bitcoin retraced to a low of $91k which is an important support zone.

MicroStrategy has made its largest Bitcoin purchase to date, acquiring approximately 55,500 BTC for $5.4 billion at an average price of $97,862 per coin over the weekend. This brings the company’s total Bitcoin holdings to around 386,700 BTC, valued at nearly $38 billion. Following the announcement, Bitcoin’s price saw a sharp decline. This was likely due the fact that this large purchase couldn’t push Bitcoin past $100,000.

Weekly Price Update

Brazil Proposes A Bitcoin Strategic Reserve

A bill in Brazilian has been proposed to allocate 5% of the country’s international reserves (around $18.6 billion) into Bitcoin. The proposal aims to reduce economic risks and raise awareness of digital assets. The national congress acknowledged crypto's growing legitimacy, noting its potential to deliver significant medium and long term benefits.

A key driver of Bitcoin's price this cycle is adoption by institutional investors and governments and as they consider accumulating significant portions of the available supply, the potential for a supply squeeze becomes evident.

Rumble Purchases BTC for Balance Sheet

Rumble is an online video-sharing website for users to upload, share, and monetise videos. Recently they announced plans to allocate up to $20 million of its cash reserves into Bitcoin. This move aligns with a growing trend of corporate and institutional Bitcoin adoption, similar to strategies employed by companies like MicroStrategy. Rumble's diversification strategy aims to use Bitcoin as a hedge against inflation and a tool for long-term value preservation. The company seeks to strengthen its appeal to the crypto community and believes the world is still in the early stages of Bitcoin adoption.

Solana' Remarkable Growth: Outpacing Ethereum

Surpassing Ethereum in Daily Fees

Solana has consistently outpaced Ethereum in daily transaction fees for a full week, accumulating $70 million in fees over seven days. Half of the fees collected ($35 million) were burned, directly benefiting SOL holders by reducing token supply and potentially increasing scarcity-driven value. This represents a major achievement.

Solana's Network fees

95% of the fees generated by Solana come from priority fees, a common premium paid by traders to execute transactions faster. This indicates that investors are willing to pay a significant premium, primarily driven by FOMO and the ongoing memecoin mania.

Why Solana continues to BOOM

1. Memecoins at the Heart of Retail and Investor Interest

The memecoin supercycle is dominating market attention, pulling both retail traders and investors into speculative, high-reward opportunities. Solana has become the epicenter of this frenzy, with a vibrant ecosystem of token launches, trading activity, and community-driven projects that align perfectly with this narrative.

Applications like Moonshot and Pump.fun, which facilitate Solana token launches (tens of thousands of new tokens each day), have fuelled an explosion of memecoin activity. PumpFun itself has done over 250 million in fees since March and launched close to 4 million tokens on its platform. These platforms make it easy and engaging for all types of users to create, trade, and speculate on meme tokens, resulting in record transaction volumes. Solana’s low fees and high throughput provide an ideal environment for memecoin creators and traders alike, which is why we believe it will continue to have great success.

2. Growing TVL and Ecosystem Potential

Beyond memecoins, Solana’s ecosystem boasts a rapidly increasing total value locked (TVL), driven by both DeFi and its decentralised applications. The ecosystem is engaging and fun, offering users a unique blend of speculative potential and real use cases. This mix of high returns and dynamic activity is what lures both new developers and new investors to the platform, which creates a flywheel effect.

Solana TVL

3. High Money-Making Lures Investors

The memecoin boom has highlighted Solana’s money-making potential. From lucrative token launches to high trading activity, investors see Solana as the gateway to both immediate gains and long-term ecosystem growth. The excitement and accessibility of its ecosystem make it a magnet for speculative capital and a springboard for new projects

Hong Kong Digital Bank Launches Crypto Trading

Hong Kong's largest virtual bank, ZA Bank, with 800,000 users, has announced crypto trading, enabling direct fiat transactions for Ethereum and Bitcoin. This move bridges crypto and traditional banking as Hong Kong continues to bolster its crypto adoption with strengthened regulatory frameworks and protections.

WIF Listed on Robinhood + Kraken Roadmap

Following WIF’s listing on Coinbase last week, momentum has carried into this week with Robinhood, one of the top stock brokerage apps in the US, adding WIF to its platform. The announcement spiked WIF’s price by 18%, though it has since retraced. Meanwhile, Kraken, a leading exchange, updated its listing roadmap today, featuring assets we’ve been monitoring, including FWOG.

FWOG, a standout meme coin in the art meta, first caught our attention at $0.05 and is now consolidating around the $0.40 mark. It’s undergoing a natural retracement, as is typical for meme assets, particularly after running up to a $700m market cap without a significant pullback. A correction to a $400m market cap is a healthy sign. We remain optimistic about FWOG’s future, especially with the potential for additional tier-1 exchange listings.

FWOG Chart Analysis

FWOG appears to be testing a key support zone for the third time and is nearing the end of a descending channel. This setup suggests that a potential breakout could occur if the price successfully moves above the channel resistance line. The current support zone remains critical for maintaining bullish momentum. While the chart indicates a possible breakout scenario, further confirmation is needed.

Gary GONSLER, Pro-Crypto Replacement

This week, the crypto community breathed a sigh of relief as SEC Chairman Gary Gensler announced his resignation, effective January 20th, coinciding with Trump’s return to office. Known for spearheading crackdowns on the industry, Gensler gained a reputation for aggressive enforcement actions against numerous crypto firms and assets. During his tenure, the SEC sued major players like Binance and Coinbase, while also asserting that the majority of tokens violated SEC rules. Despite being a polarising figure who often generated fear and anger in the sector, Gensler was instrumental in one of Bitcoin’s most significant achievements: the approval of spot Bitcoin ETFs this year, where he was one of three commissioners voting in favour.

With Gensler’s departure, Trump’s administration is expected to appoint a more crypto-friendly successor. Brian Armstrong, CEO of Coinbase, has publicly endorsed SEC Commissioner Hester Peirce as his preferred choice, stating, “She would be the best choice. Smart, fair, professional. Can work with both sides.” Another potential candidate is Mark Uyeda, also a current SEC commissioner. Uyeda is known for his pro-crypto stance and has advocated for a clear and balanced approach to digital asset regulation. The transition of leadership in 2025 marks a pivotal moment for the future of US regulations, particularly within the cryptocurrency sector.

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