- BTC reclaimed $100k, albeit briefly, after cooler-than-expected inflation information
- XRP reclaimed its 7-year excessive whereas ONDO confronted $2.4B token unlock strain.
On Wednesday, Bitcoin [BTC] bounced off and retested $100k following cooler-than-expected U.S inflation information, lifting your complete market. The inflation information, CPI (Shopper Worth Index), got here in at 3.2% YoY(year-on-year) in opposition to the three.3% projected by economists.
This dampened inflation fears and Fed price minimize outlook that had earlier tanked markets and dragged BTC beneath $90k.
Price stating, nevertheless, that the markets are nonetheless pricing a 97% probability of an ‘unchanged’ Fed rate of interest within the subsequent assembly in the direction of the tip of January.
AI brokers lead restoration, XRP hits new excessive
Following BTC’s rally, Solana [SOL] and Ethereum [ETH] posted 14% and 12% positive factors, respectively. Nonetheless, the AI agent sector noticed a much bigger rally, with Virtuals Protocol [VIRTUAL] and Aixbt [AIXBT] recording positive factors of 25% and 35%, respectively.
Different tokens with the AI agent narrative, like Fartcoin and Cookie, additionally logged double-digit positive factors. The truth is, some agent tokens posted triple-digit positive factors in a day too.
Nonetheless, the important thing market spotlight was XRP. At press time, the altcoin hit a excessive of $3.38, crossing its 2021 cycle excessive within the course of. The feat successfully prolonged its breakout positive factors to +40%, with the altcoin unfazed by authorized developments because the SEC filed an attraction in opposition to Ripple Labs.
Supply: XRP/USDT, TradingView
The company is dissatisfied with U.S District Decide Analisa Torres’s ruling that categorized XRP as non-security and lowered Ripple Labs’ $2B fantastic to $125M.
Regardless of hypothesis that the company wouldn’t attraction the case, it did so, irking Ripple’s management, who termed the transfer a waste of taxpayer cash. Nonetheless, there are studies that the brand new Trump administration may ‘freeze’ some crypto lawsuits, together with Ripple’s case.
Lastly, the RWA (real-asset tokenization) market chief, Ondo [ONDO], will unlock almost 800M tokens (value $2.4B) on 18 January.
This may translate to 134% of its market cap and will expose the token to vital volatility and promoting strain. Regardless of a broader market restoration at press time, the altcoin is already down by 42%. Priced at $1.2, it hasn’t recovered from December’s sell-off thus far.
Supply: CryptoRank
Lastly, subsequent week marks the D-day of Donald Trump’s presidential inauguration, and a brand new chapter for crypto will likely be ushered in.
Because the market shifts focus to this historic occasion, buying and selling agency QCP Capital famous better curiosity from Choices merchants within the $100k-$110k value targets. The agency acknowledged,
“On the choices entrance, BTC JAN calls dominated the market yesterday as merchants adopted an more and more bullish view, snapping up contracts with strikes starting from $100K to $110K. This can be a promising signal as we head into March which at present holds the best focus of open curiosity on the $120K strike.”
