OSL trading moment: The Trump effect detonated the encryption market, and the ETH/BTC exchange rate fell below 0.03 in the short term

Reprinted from panewslab

01/20/2025·2days ago

OSL trading moment: The Trump effect detonated the encryption market, and
the ETH/BTC exchange rate fell below 0.03 in the short term

1. Market observation

Keywords: TRUMP, SOL, BTC

Bitcoin recently broke through the important $106,000 mark for the first time, a breakthrough closely related to the upcoming inauguration of Donald Trump. Traders are generally optimistic about cryptocurrency policy during Trump's presidency, predicting that Bitcoin could reach new highs of $150,000. Bitcoin regained key liquidity levels last week and faced no significant resistance as it approached all-time highs, further bolstering market confidence.

The probability that the United States will establish a strategic Bitcoin reserve during the Trump administration has risen to 70%. The trend has received international echo, with Swiss supporters also proposing to add Bitcoin reserves to its central bank portfolio. These signs indicate that Bitcoin is gradually being integrated into the global national reserve management system.

However, in an environment where the overall cryptocurrency market value expanded to $3.59 trillion, Ethereum's performance surprised traders. Despite recent support from $166 million in ETF inflows, Ethereum is still struggling to break above the $3,500 mark. Notably, the Ethereum Foundation is undergoing a major leadership shake-up, including a series of changes announced by co-founder Vitalik Buterin. However, the behavior of major Ethereum holders to strengthen their positions may hint at positive strategic adjustments.

Amid this wave of cryptocurrency gains, traders and investors are also optimistic about the prospects of Dogecoin, anticipating that it will achieve significant appreciation driven by the "Trump effect." However, the market also faces some challenges: Police recently recovered £28 million worth of Bitcoin from an international fraud gang that had used Australian cryptocurrency trading websites to conduct fraudulent activities. Meanwhile, some critics have expressed concerns about Bitcoin's continued rise and questioned President-elect Trump's stance on cryptocurrencies.

2. Key data (as of January 20, 10:00 HKT)

S&P 500: 5,996.66 points (+1.96% during the year)
Nasdaq: 19,630.20 points (+1.65% during the year)
10-year U.S. Treasury yield: 4.630% (+5.40 basis points during the year)
US dollar index: 109.26 (+0.71% during the year)
Bitcoin: $100,357 (+7.12% for the year), daily spot trading volume of $71.43 billion
Ethereum: $3,190.76 (-4.60% for the year), with daily spot trading volume of $62.8 billion