Weekly Crypto Market Update - January 2, 2025

**Bitcoin holds steady at $112K-$113K** with **$1.9 billion in ETF inflows**, while Ethereum slips to $4,300 amid **$62 million in weekly outflows**. **Key developments:** - Solana posts **record $145 million daily inflows** - CME announces options for Solana and XRP futures - **Tether pursues $500B valuation** funding round - Major crypto selloff triggers liquidations before recovery - UK faces criticism over stablecoin regulation delays **Market outlook:** Bitcoin expected to trade between $110K-$115K as ETF flows continue. Ethereum may rebound toward $4,500 if institutional demand returns. Global crypto market cap sits at **$4.28 trillion** with Bitcoin maintaining 56% dominance.

Do Kwon, Terraform Labs co-founder, admitted guilt to fraud charges related to Terra/Luna's $40B collapse, agreeing to forfeit $19M. The RFIA crypto bill faces opposition from Democratic senators who warn it could weaken SEC oversight and destabilize markets. Bitcoin shows technical signs of a potential double-top formation near $122K resistance. AI-focused tokens are gaining momentum in the altcoin sector. The global crypto market cap sits at $4.18T, with Bitcoin dominance at 62.9%. ETF inflows remain strong, particularly for Ethereum products which saw $572M in net inflows. LINK outperformed with a 42% rally following new partnerships.

JPMorgan Chase CEO Jamie Dimon announced the bank will allow clients to invest in Bitcoin, marking a significant shift despite his personal skepticism. The decision reflects growing institutional acceptance of digital assets. Bitcoin currently trades at $106K with a market cap of $2.13T. The U.S. Senate advanced the GENIUS Act for stablecoin regulation, while the SEC charged Unicoin executives with $100M fraud. Coinbase disclosed a cyberattack involving bribed overseas contractors accessing customer data. Meanwhile, Ripple received NYDFS approval to launch RLUSD stablecoin.

**Key Market Movements:** - Bitcoin reached new ATH of $109,140 before retracing to $102,286 - Global crypto market cap rose 11.31% to $3.74 trillion - Trading volume decreased 25.46% to $367.54 billion **Notable Events:** - $TRUMP token launched, surging from under $10 to $74.59 before settling at $36 - Post-inauguration sell-off triggered market-wide correction - Concerns raised over potential conflicts of interest with Trump-affiliated tokens **Market Outlook:** - Analysts identify key support levels at $92K, $87K, and $74K - Resistance levels watched at $106K and $120K - Institutional interest remains strong despite volatility

The cryptocurrency market begins 2025 with significant momentum: - Bitcoin reaches new heights at $95K, continuing its upward trajectory from late 2024 - XRP demonstrates strong performance with a 10% increase - TRON achieves milestone by entering cryptocurrency top 10 rankings This follows the November 2024 rally where Bitcoin hit $89K, driven by political developments and institutional interest. Market sentiment remains positive as we enter the new year. *Key context:* Previous growth was supported by corporate investments, including MicroStrategy's $2B Bitcoin purchase and strong performances from crypto mining stocks.