Key Takeaways
The cryptocurrency market is poised for significant developments in the week of January 24–31, 2025. Key events and catalysts are expected to influence the prices of various digital assets.
Here’s a breakdown of notable coins to watch and the factors that may impact their valuations:
As of Jan. 24, 2025, Bitcoin is trading at approximately $102,378. Recent policy shifts under President Donald Trump’s administration have introduced a more crypto-friendly regulatory environment.
The revocation of the 2022 accounting guidance by the U.S. Securities and Exchange Commission (SEC) is anticipated to encourage institutional participation in Bitcoin trading and custody services.
The chart shows a potential bullish Elliott Wave count for Bitcoin, with Wave 3 completed and Wave 4 either already ended on Jan. 13 or still has one led down before completion.
It revisited the all-time high but failed to make a significant one, pulling slightly back. The next impulse wave (Wave 5) towards higher Fibonacci extension levels would be expected, so in the upcoming week, we will receive a confirmation of either scenario.
At around $3,218.67, Ethereum remains a cornerstone of decentralized finance (DeFi) and smart contract platforms.
The upcoming WAGMI Miami conference, scheduled for January 22–24, 2025, will feature significant discussions and potential announcements about Ethereum’s ecosystem, which could influence its market performance.
In addition, the price of ETH started to break its descending triangle resistance and confirmed the bullish outlook.
Should the rise continue and validate the breakout, the first signal of the coming larger uptrend to a new all-time high is expected.
Trading at approximately $251.28, Solana has gained attention for its high-performance blockchain capabilities.
The anticipated decision by regulatory authorities on Solana-based Exchange-Traded Funds (ETFs) could be a major catalyst for SOL’s price movement.
Approval of these ETFs would likely enhance Solana’s visibility and accessibility to a broader range of investors.
Since its all-time high of $294, SOL formed a symmetrical triangle and is now attempting to make a breakout.
Although there is a slight chance it can fall lower and further develop the corrective ABC, the bullish outlook remains more likely.
If confirmed, a breakout should lead to a sustained upward trajectory, reaching a new all-time high well above $340.
Launched on January 17, 2025, the $TRUMP memecoin experienced a rapid surge, briefly reaching a market capitalization of $15 billion before stabilizing around $7.1 billion.
Similarly, the $MELANIA coin, introduced shortly after, has a market value of approximately $350 million. These coins have been subject to significant volatility, raising concerns regarding their speculative nature and potential market manipulation.
However, considering the current market narrative and Trump’s settling into the presidency, they should be added to the watchlist.
The recent executive order signed by President Trump aims to promote the cryptocurrency industry and explore the creation of a national digital asset stockpile.
This policy direction is expected to have broad implications across the crypto market, potentially affecting various coins differently based on subsequent regulatory frameworks and government support.
Investors should closely monitor these developments, as they present both opportunities and risks.
Staying informed about policy changes, technological advancements, and market dynamics is crucial for making informed investment decisions in the rapidly evolving cryptocurrency landscape.