Weekly Crypto Market Wrap January 6-12, 2025
BTC has lost 10.56% over the week, and its dominance continues to weigh on altcoins. The U.S. labor market has added fuel to the fear fire, while the Fed seemingly decided to hit pause. According to CoinMarketCap, only two altcoins showed growth over the week. Could the market be waiting for Trump’s inauguration to reach new heights? Let’s dive into the main events of the week:
The U.S. justice department approved the sale of 69,370 BTC ($6.5 billion). Imagine the Justice Department gearing up for a massive “sale.” Some joke it might be the biggest Black Friday in crypto history. Or maybe they’re just testing a “dumpers’ market” strategy while preparing to pay off part of the national debt.
Michael Saylor is back! They’ve purchased 1,070 BTC for $101 million, with ambitious plans to raise $2 billion to buy even more Bitcoin.
Japan follows suit. Metaplanet (Japan’s version of MicroStrategy) seems inspired by Michael Saylor and plans to accumulate 10,000 BTC by 2025.
Grayscale asset rebalancing. They bought LPT, CRV, ADA, and SUI while selling AVAX and SNX. It looks like Grayscale has done some spring cleaning in their portfolio. The new additions, particularly SUI and ADA, seem to have sparked their interest.
An Oklahoma senator proposes paying salaries in BTC. This could be the first step toward accountants calculating in satoshis. Getting paid in BTC? It’s like receiving your salary in gold—but without the shovel.
Do Kwon’s trial is scheduled for January 26, 2026. The former head of Terraform Labs, whose ecosystem collapsed like a house of cards, now truly understands what “slowing time” means. With a whole year until the trial, he might try anything—from writing memoirs to studying law.
Fitch upgrades El Salvador’s credit rating from CCC+ to B-. El Salvador is now slightly more reliable, but don’t applaud just yet. It’s like moving from a D to a C grade—it’s progress for them!
The mindfulness city of Gelephu in Bhutan eyes BTC, ETH, and BNB for reserves. A Buddhist city with crypto reserves? Meditation and blockchain in the same cup of tea. Mindfulness now seems to include both Zen and cryptography.
Finally, some recognition! JPMorgan labels Bitcoin and gold as “structurally important”. When a financial giant like JPMorgan places Bitcoin alongside gold, it feels like an honorary medal for merit. The days of crypto being seen as a toy for techies seem to be over. Bitcoin is no longer just “digital gold”—it’s now a veteran of the financial battlefield.
CFTC Chair Rostin Behnam resigns. Rostin has decided it’s time for new horizons. Some joke he might join a crypto startup. If that happens, it would be a legendary twist.
Upcoming major token unlocks:
ONDO: $2.17b (133.3%)
CONX: $83.26m (370.8%)
ARB: $62.60m (2.2%)
UXLINK: $29.48m (15.5%)
STRK: $25.24m (2.6%)
SEI: $19.38m (1.3%)
SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.
