After the recent enhanced volatility across the entire crypto market, bitcoin’s price has finally calmed and stands still at around $105,000.

Many altcoins have recovered some ground following yesterday’s declines, and the total market cap is close to $3.8 trillion.

BTC Calms at $105K

The primary cryptocurrency jumped past $100,000 at the end of the previous business week and went to a high of $105,000 on Friday. While the weekend was less eventful on the BTC front, despite the two Trump-related meme coins, the asset maintained its level and even surged to $106,000 on Monday morning.

Then came the volatile ride that pushed the asset to under $100,000. In minutes, it had recovered all losses and skyrocketed even further to just over $109,000 to register a new all-time high. All of these movements transpired in the span of just a few hours.

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Once Trump’s inauguration began on Monday afternoon, BTC’s price started to tumble again and plunged to $100,000 once again as he failed to mention crypto even once. Nevertheless, the bulls intervened at this point and drove the cryptocurrency to $107,000 yesterday.

It has lost some ground since then and now trades a lot more calmly around $105,000. Its market capitalization has risen to $2.080 trillion on CG, and its dominance over the alts is still above 55%.

Alts in Recovery Mode

Most alternative coins have turned green today after yesterday’s retracements. Solana and Dogecoin have popped up as the top performers, with both gaining around 6%. As a result, SOL has risen to over $250, while DOGE, which exploded yesterday at one point, is now above $0.36.

ETH, XRP, BNB, and ADA have posted minor gains, while TRX, LINK, and AVAX have added around 3-4% of value.

Other notable price gainers since yesterday include HYPE and CRO, as the exchange behind the latter launched in the US.

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The total crypto market cap has increased by over $100 billion on a daily scale and is close to $3.8 trillion on CG.

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Cryptocurrency charts by TradingView.

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Dogecoin has emerged as a focal point of conversation, even amid a sudden wave of meme coins linked to Donald Trump’s return to the spotlight. On-chain analysis firm Santiment, which recently shared a sentiment dashboard on X, notes that “the top trending tokens” are all about meme coins following the “historic US inauguration of Donald Trump.”

In their latest post, Santiment emphasizes that “TRUMP is being discussed following its controversial listing on Coinbase, and the risks involved in investing during a volatile market,” while there is also “significant interest in airdrops of ‘TRUMP’ tokens, with a notable event securing $1M worth of tokens.”

MELANIA, another meme coin tied to the Trump brand, has caused a stir by briefly surpassing a $9 billion valuation, although it has endured “substantial fluctuations amid broader market uncertainty.”

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Meanwhile, Dogecoin’s surge in social media mentions is attributed by Santiment to the newly established US Department of Government Efficiency (DOGE) led by Elon Musk, as the project uses Dogecoin as its avatar. On January 21, the US Government officially launched the Department of Government efficiency (DOGE) website which has the official Dogecoin logo on it.

“This initiative has sparked discussion as it intertwines cryptocurrency with government operations, generating buzz on social media. Additionally, discussions around the potential for new meme coins linked to public figures like Trump and Musk contribute to the speculation about Dogecoin’s future performance and relevance in the crypto space,” Santiment writes.

Despite the sudden attention on TRUMP and MELANIA, Santiment’s sentiment breakdown underscores mixed feelings for both tokens. Regarding TRUMP, the post states: “The word ‘trump’ is trending due to discussions about the Trump Coin. Its price fluctuations, and the speculative nature of meme coins, users are debating the risks of investing in Trump Coin.”

Santiment’s “positive” analysis points to “political influence and executive actions” as reasons for optimism, highlighting that “the anticipation of a crypto executive order from Trump has generated excitement among investors.”

Related Reading: Will Dogecoin Skyrocket Soon? Chart Pattern Suggests Yes

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MELANIA’s sentiment likewise splits along bullish and bearish lines, with the negative view referencing a more than 70% drop from its initial peak price, and the bullish narrative noting “celebrity endorsement” from Donald and Melania Trump as a potential driver of renewed interest.

Technical Analysis: DOGE Confirms Breakout

At press time, Dogecoin (DOGE) was trading at around $0.367 after rebounding from a descending trendline dating back to early December. The breakout above the diagonal resistance occurred earlier this week, followed by a successful retest of the trendline yesterday, confirming it as new support.

Following the retest, DOGE is now contending with the 0.5 Fibonacci retracement level at $0.3943, which marks the next major overhead barrier. A clear break of this resistance could open the door to the higher 0.618 Fib level at $0.4759 and the 0.786 Fib at $0.5920.

On the downside, if DOGE fails to break the 0.5 Fib, the 0.382 Fib at $0.3129 may act as the most reliable support. Meanwhile, the Relative Strength Index (RSI) at around 51 remains neutral, reflecting balanced momentum and leaving room for a potential continuation to either side.

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Featured image created with DALL.E, chart from TradingView.com

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Bitcoin bulls have their work cut out on both short and long timeframes, BTC price analysis shows.

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On Tuesday, tech giant MicroStrategy purchased an additional 11,000 Bitcoin (BTC)  for approximately $1.1 billion, as disclosed by its chair and co-founder Michael Saylor in a social media post on X (formerly Twitter). 

This acquisition marks the company’s 11th consecutive week of Bitcoin purchases, reinforcing its status as a significant player in the digital currency space. Saylor has been at the forefront of this strategy, positioning the enterprise software company as a leveraged Bitcoin proxy.

MicroStrategy Bitcoin Holdings Surge

According to Microstrategy’s filing with the US Securities and Exchange Commission (SEC), the firm acquired the Bitcoin at an average price of about $101,191 per token between January 13 and January 20. 

With this latest purchase, the firm now holds over 2% of all Bitcoin that will ever be mined, representing approximately $47.9 billion in total Bitcoin holdings. MicroStrategy has been funding these acquisitions through a combination of at-the-market stock sales and convertible debt offerings. 

The timing of this latest purchase aligns with a broader shift in the regulatory environment under President Donald Trump, who has transitioned from being a crypto skeptic to a supporter of the industry. 

This change is expected to create a more favorable regulatory framework for cryptocurrencies, prompting Saylor and MicroStrategy to accelerate their capital goals and Bitcoin buying efforts. 

Ahead of Trump’s inauguration, the firm’s co-founder even attended the first ever “Crypto Ball” in Washington on Friday, where he engaged with key figures in the incoming administration.

New Shares To Support BTC Strategy

In a related development, MicroStrategy shareholders voted also on Tuesday to approve a staggering 30-fold increase in the number of authorized Class A common shares, raising it from 330 million to 10.3 billion. 

According to a Bloomberg report, this decision, which passed with around 56% of the vote, is designed to facilitate further financing for the company’s Bitcoin purchases. Additionally, shareholders voted to increase the authorized shares of preferred stock from 5 million to 1 billion.

These amendments will take effect once MicroStrategy files the necessary certificate of amendment with the Delaware Secretary of State. The report notes that with Chairman Saylor holding about 47% of the voting power, the outcome was largely anticipated.

The newly authorized shares will also be utilized for various financial strategies, including private transactions of Class A stock, sales of at-the-market equity offerings, and settling redemptions or conversions of convertible notes. However, the company has indicated that it may choose not to sell all of the additional shares.

At the time of writing, Bitcoin continues to experience significant price volatility, with its price hinting at a new record high. It is currently trading at $106,400, representing a 2.5% increase in the 24-hour time frame. 

Featured image from DALL-E, chart from TradingView.com 

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Bitcoin (BTC) has gained nearly 3% over the past 24 hours, approaching its all-time high at one point as the Trump administration completed its first day in office. Markets were choppy but stabilized after the United States Securities and Exchange Commission unveiled plans to overhaul rules and regulations for the sector. BTC is trading around $105,846 and has registered gains of nearly 10% over the past week. 

The crypto market has rebounded over the past 24 hours. Ethereum (ETH) rose nearly 3% to reclaim $3,300 and is currently trading around $3,342. Meanwhile, Ripple (XRP) is up 2.50%, while Solana (SOL) is up nearly 8%, remaining above $250. Dogecoin (DOGE), Cardano (ADA), Chainlink (LINK), Tron (TRX), Sui (SUI), Polkadot (DOT), and Litecoin (LTC) also registered substantial gains. The TRUMP meme coin is also up nearly 15%, gaining a staggering 530% since launch. 

SEC Gives Crypto First Win Of Trump Presidency

The United States Securities and Exchange Commission’s new leadership has announced the creation of a task force to develop a clear regulatory framework for digital assets. This is the first attempt by the Trump administration to overhaul crypto policy. Coinbase Chief Legal Officer Paul Grewal said the SEC is moving quickly on Trump’s agenda, stating, 

“The president has moved quickly on his agenda. The SEC has made it clear they understand that and want to be a part of that.”

The task force was created by the acting Chair of the SEC, Mark Uyeda. Its primary goal would be to develop a clear and comprehensive regulatory framework for crypto assets. SEC Commissioner Hester Pierce will lead the task force. Pierce has urged the public to collaborate with the SEC to shape the future of crypto. However, she added that the process would require significant time and effort. 

“This undertaking will take time, patience, and much hard work. It will succeed only if the Task Force has input from a wide range of investors, industry participants, academics, and other interested parties.”

The task force was announced a day after former SEC Chair Gary Gensler stepped down, and President Trump nominated Uyeda as acting Chair. Trump has nominated Paul Atkins as the next Chair of the SEC. However, the pick is subject to approval from the US Senate. The SEC released a statement on its website regarding the task force, stating, 

“Drawing from talented staff across the agency, the Task Force will collaborate with Commission staff and the public to set the SEC on a sensible regulatory path that respects the bounds of the law. To date, the SEC has relied primarily on enforcement actions to regulate crypto retroactively and reactively, often adopting novel and untested legal interpretations along the way. Clarity regarding who must register and practical solutions for those seeking to register have been elusive. The result has been confusion about what is legal, which creates an environment hostile to innovation and conducive to fraud. The SEC can do better.”

TRUMP, MELANIA Meme Coins Crash After Inauguration 

The cryptocurrency market witnessed a sharp pullback on Tuesday following the inauguration of Donald Trump. Despite reaching a new all-time high on Monday, Bitcoin (BTC) registered a dramatic drop, falling to $102,408 before recovering on Tuesday. The sharp decline came after Trump emphasized his plans for imposing trade tariffs, amending immigration policy, and energy deregulation. However, Trump did not make any specific references to crypto. Failure to mention crypto in his inaugural speech has left some market watchers disappointed at a time when expectations from the Trump administration regarding digital assets were sky-high. Matthew Dibb, the Chief Investment Officer at Crypto Asset Manager Astronaut Capital, stated, 

“I think in the short term there’s a chance this could be a sell-the-news event. The market has some great expectations about a Bitcoin strategic reserve and a loosening of regulations around digital assets, but it’s more likely these developments will be drip-fed over a series of months rather than days. Bitcoin has already retreated … We expect further volatility here and likely a selloff.”

The Trump administration is expected to introduce several regulatory changes and potentially create a Bitcoin strategic reserve. However, Trump’s involvement in the crypto market has led to ethical concerns and concerns about potential conflicts of interest. 

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) has registered a marginal dip during the ongoing session as it struggles to build momentum despite surging to an all-time high on Monday. BTC reached $109,350 on Monday but quickly plummeted to test the $100,000 support, dropping to an intraday low of $99,514 before recovering to settle at $102,408. BTC’s price action suggests that despite a bullish market, sellers are keeping pressure on the $100,000 price boundary. Trump’s inauguration day saw significant price volatility but disappointed many in crypto after the president failed to mention BTC, crypto, or a Bitcoin strategic reserve. As a result of the volatility, longs saw significant liquidations. One analyst on X stated, 

“I’d take a long from 99.5K~ if offered. I think the gray box needs to hold for local bullishness, and sweeping all the Trump leadup/news PA makes sense. I’d also accept a sweep of the 97K low, but that’s the farthest it should go. Any good amount of time spent past 96-97K and my plan / read is likely off. Inval low 90’s, aiming for new ATH’s.”

The Bitcoin price chart suggests considerable choppiness in the market, and we could see a definitive trend emerge by the end of the week. While BTC has maintained an upward trajectory after recovering from last week’s collapse, it has faced increasing volatility over recent sessions. BTC plummeted to an intraday low of $89,397 on Monday as selling pressure peaked. However, it recovered to reclaim $90,000 and ultimately settled at $94,492. Markets recovered on Tuesday, and BTC registered an increase of 2.19%, going past the 20-day SMA and settling at $96,566. Bullish sentiment intensified on Wednesday as BTC crossed the 50-day SMA, registering an increase of 3.61% and settling at $100,051. Sellers returned to the market on Thursday as BTC dropped to an intraday low of $97,094. However, it recovered from this level and settled at $99,798, ultimately registering only a marginal decline.

Source: TradingView

BTC made a strong recovery on Friday, rising almost 4% to surge past $100,000 and settle at $103,732. However, bearish sentiment and volatility returned over the weekend as BTC plummeted to an intraday low of $101,591 on Saturday before ultimately settling at $103,579. Buyers attempted a recovery on Sunday as BTC surged to an intraday high of $106,552. However, it lost momentum after reaching this level and registered a drop of just over 2% to settle at $101,434. BTC rallied to a new all-time high on Monday when it hit $109,350. However, it rapidly declined after reaching this level and settled at $102,408, registering an increase of nearly 1%. Sellers attempted to drive BTC below $100,000 on Tuesday as the price dropped to an intraday low of $100,173. However, buyers bought the dip, allowing the price to recover. As a result, BTC rose 3.56% and ended the day at $106,054. The current session sees BTC marginally down as sellers look to drive the price below $105,000. However, if market sentiment changes and buyers regain control, BTC could see a move past $110,000.

Ethereum (ETH) Price Analysis

Ethereum (ETH) is trading close to the psychological $3,300 level as it continues to experience volatility, leading to a considerable lack of momentum. ETH’s price struggles come as Ethereum co-founder Vitalik Buterin lashed out at growing criticism of Ethereum Foundation executive director Aya Miyaguchi and calls for her to step down from her role. The ongoing tussle between the Ethereum Foundation and the Ethereum community has also had a detrimental impact on ETH, with the asset underperforming compared to BTC, XRP, and SOL over the past weeks.

ETH’s price chart shows the asset experiencing significant volatility since recovering from an intraday low of $2,927 on Monday. ETH recovered to reclaim $3,000 and settle at $3,137 before registering an increase of 2.85% on Tuesday and moving to $3,336. Bullish sentiment registered a substantial increase on Wednesday as ETH surged past the 20-day SMA, rising nearly 7% to $3,450. However, buyers lost momentum after reaching this level, and ETH dropped 4.10% on Thursday to slip below the 20-day SMA and settle at $3,308. Buyers returned to the market on Friday, with ETH registering an increase of nearly 5% to move past the 20-day SMA and settle at $3,473. Once again, ETH was back in the red on Saturday, dropping nearly 5% to slip below the 20-day SMA and settle at $3,305.

Source: TradingView

Sellers retained control on Sunday after thwarting a recovery attempt. As a result, ETH dropped nearly 3% to $3,212. The current week began with ETH experiencing significant volatility as buyers and sellers attempted to establish control. Buyers ultimately gained the upper hand as ETH rallied to an intraday high of $3,446 before settling at $3,280. Buyers retained control on Tuesday, with ETH rising 1.44% to $3,327. However, ETH is struggling to move past the 20-day SMA, which acted as a dynamic resistance level. The current session sees ETH marginally down and trading just above the $3,320 level. If sellers continue to dominate the market, ETH could decline to $3,000. On the other hand, if buyers regain control, ETH could look to move past the 20-day SMA and push towards $3,500.

Solana (SOL) Price Analysis

Like Bitcoin (BTC), Solana (SOL) too surged to a new all-time high on Sunday, driven by the launch of the TRUMP and MELANIA meme tokens created on the Solana blockchain. The success of both meme coins generated considerable interest in SOL as well, helping boost the price. SOL has been bullish since recovering from an intraday low of $169 last Thursday. SOL recovered on Tuesday, rising 2.58% to $187. Bullish sentiment registered a substantial increase on Wednesday as SOL surged past the 20-day SMA and $200 to settle at $205 after rising nearly 10%. Buyers retained control on Thursday as SOL pushed above the 50-day SMA and settled at $211. Friday saw SOL register an increase of 4% and move to $219.

Source: TradingView

The weekend saw renewed buying activity as SOL surged a staggering 19.19% on Saturday to smash past $250 and settle at $261. Bulls retained control during the first half of Sunday as SOL surged to a new all-time high of $295. However, it could not get beyond this point as buyers lost momentum. As a result, sellers took over, and SOL dropped nearly 4% to $252. Buyers attempted a recovery on Monday as SOL reached an intraday high of $272. However, sellers took control and drove SOL below $250 to $241. The price recovered on Tuesday despite considerable volatility, rising 3.47% to reclaim $250. The current session sees SOL up by 2.31% and trading around $256. Buyers will look to build momentum and push towards $280-$290.

Dogwifhat (WIF) Price Analysis

Dogwifhat (WIF) has been trading in a downward trajectory since the weekend after failing to move past $2 on Sunday. WIF was quite bullish last week despite starting it on a bearish note. The meme coin recovered from Monday’s low to register an increase of nearly 4% on Tuesday and settle at $1.54. Bullish sentiment registered a substantial increase on Wednesday as WIF rallied a staggering 14% and settled at $1.76. With the 20-day SMA coming into play, WIF lost momentum on Thursday and registered a marginal decline. However, it recovered on Friday, rising 6.14% to move past the 20-day SMA and settle at $1.87.

Source: TradingView

Buyers attempted a move past $2 on Saturday as WIF reached an intraday high of $1.98. However, WIF lost momentum at this point and dropped over 5% to slip below the 20-day SMA and settle at $1.77. Bullish sentiment intensified on Sunday as WIF dropped nearly 14% to $1.53. The current week began with WIF firmly in the red, dropping over 9% to $1.38. Buyers returned to the market on Tuesday as WIF rose 4.50% to settle at $1.45. The current session sees WIF marginally down, trading around $1.43.

Hedera (HBAR) Price Analysis

Hedera (HBAR) surged to an intraday high of $0.402 on Friday but has since been trading primarily in the red as selling pressure intensifies. HBAR’s bullish momentum began on Tuesday when it registered a substantial increase of 4.25% to move past the 50-day SMA and settle at $0.287. Buying activity registered a significant increase on Wednesday as HBAR surged past the 50-day SMA and $0.30 to settle at $0.322 after an increase of 12.09%. Bullish sentiment persisted on Thursday as HBAR surged over 12% and moved to $0.361. The price reached an intraday high of $0.402 on Friday. However, buyers lost momentum at this point, and the price dropped to $0.373, an increase of 3.23%.

Source: TradingView

HBAR turned bearish over the weekend, dropping nearly 5% on Saturday and settling at $0.355. Bearish sentiment intensified on Sunday, with the price dropping 8.48% to $0.324. Buyers returned to the market on Monday as HBAR rose to an intraday high of $0.373. However, it could not go higher and ultimately settled at $0.342, registering an increase of 5.32%. HBAR registered a marginal decline on Tuesday, dropping nearly 3% during the ongoing session and trading around $0.327. 

Stellar (XLM) Price Analysis

Stellar (XLM) surged past the 50-day SMA last Wednesday after registering a staggering rise of nearly 14% and moving to $0.488. Buyers pushed the price to an intraday high of $0.514 on Thursday. However, XLM lost momentum after reaching this level and dropped 1.28% to $0.482, but not before falling to an intraday low of $0.464. Buyers returned to the market on Friday as XLM rose 1.24% to $0.488. XLM dropped to an intraday low of $0.451 on Saturday as sellers attempted to drive the price below $0.45. However, XLM recovered from this level to register a marginal increase and end the day at $0.49.

Source: TradingView

Selling pressure returned on Sunday as the price plummeted over 11%, slipping below the 20-day SMA and settling at $0.433. The current week began with XLM rising to an intraday high of $0.477. However, the price could not push higher and ultimately settled at $0.445, registering an increase of nearly 3%. Bearish sentiment returned Tuesday as XLM dropped almost 1% to $0.441. The current session sees XLM down 2% and trading around $0,432.

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.

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