Bitcoin
For seven days, from January 17 to January 24, 2025, the price of Bitcoin remained virtually unchanged. However, as the week progressed, BTC reached a new all-time high. The new peak value was set on January 20 and amounted to $109,356.
Source: tradingview.com
The main news for the crypto industry was the inauguration of US President Donald Trump. This happened on January 20, just on that day Bitcoin updated its historical maximum. The excitement that preceded the inauguration subsided after the speech of the newly elected American president. Trump
didn’t mention about cryptocurrencies.
The inauguration pushed large players (whales) to accumulate. According to analytical
platforms CryptoQuant, as early as January 14, the monthly decrease in Bitcoin in the hands of large capital was 0.25%, and already on January 17, the same figure showed an increase of 2%. Demand from small retail investors, on the contrary,
fell – from the beginning of December, when it was 279,000 BTC, to 75,000 BTC.
Analyst at CryptoQuant under the pseudonym Gaah
notesthat over the past three years a million BTC have been withdrawn from trading platforms:
“1 million bitcoins have been withdrawn from exchanges over the past three years. Bitcoin withdrawals reduce liquidity and, as a result, selling pressure, which can support the price in the short term.”
From a technical analysis point of view, Bitcoin is in an uptrend. This is confirmed by the price exceeding the 50-day moving average (in blue in the screenshot), as well as the growing RSI indicator, which is above 50. The support and resistance levels are the minimum and maximum of January 2025: $89,164 and $109,356, respectively.
Index
fear and greed remained unchanged compared to last week. Its value is still 75. This indicates the predominance of greed over fear in the sentiments of crypto investors.
Source: tradingview.com
Ethereum
Ether fell by 4.8% for the week from January 17 to January 24. Unlike the first cryptocurrency, the second one was unable to update not only the historical maximum, but even the peak value of the month. All week trading took place in the range from $3,100 to $3,550.
Source: tradingview.com
One of the reasons for the decline in the price of ether could be the increased number of transfers of the second largest cryptocurrency by capitalization to exchanges. From January 21 to January 23, trading platforms were replenished with more than 170,000 coins, the total value of which exceeded $0.5 billion. Such information
shared cryptanalyst Ali Martinez. Typically, large transfers to crypto exchanges indicate bearish pressure and are a harbinger of sales.
Not everything is smooth in the Ethereum community. There have accumulated quite a lot of objections regarding the scalability of cryptocurrency, as well as regarding project management. Attorney defending the interests of crypto companies John Deaton writes:
“I have been in the crypto industry for almost nine years now. I have never seen sentiment towards Ethereum at such a low level. I see one post after another from people who were some of the biggest supporters of ETH, but now they are leaving.”
Prior to this, the managing partner of the company Multicoin Capital, which invests in cryptocurrencies, Kyle Samani, was angry
fasting that Ethereum is not much different from what it was seven years ago, and management is divorced from the needs of ecosystem participants.
Ether spot ETFs saw their inflow of funds interrupted for six trading sessions. On January 23, an outflow of $14.93 million was recorded.
Source: sosovalue.com
From a technical analysis perspective, Ether continues to have a preponderance of sellers. This is supported by the fact that the price is below the 50-day moving average (indicated in blue). But the trend is quite weak, which is confirmed by the low value (22) of the ADX indicator. The current support and resistance levels are $2,919.5 and $3,526.7, respectively.
Source: tradingview.com
Dogecoin
The main meme cryptocurrency Dogecoin lost 16% of its value over the past week from January 17 to 24. At the same time, at the auction on January 18, the maximum of the month was reached – $0.43381. However, this is where the successes ended and a correction began.
Source: https://ru.tradingview.com
One of the problems with Dogecoin, as usual, was its longtime fan, Elon Musk. More precisely, not him, but the US Department of Government Efficiency, headed by a billionaire. The fact is that this structure is called DOGE in abbreviated form and initially the image of the meme cryptocurrency was present on its official website. However, then it disappeared. It is this disappearance and prompted investors to sell.
However, Dogecoin remains popular. Analytical platform Santiment
published statistics on the most discussed cryptocurrencies after the inauguration of Donald Trump. In the top 3
entered exclusively memcoins: Dogecoin, TRUMP and MELANIA.
But the resignation of former Securities and Exchange Commission (SEC) head Gary Gensler has caused a wave of applications for spot ETFs on DOGE. Asset management company Bitwise Asset Management
issued statement in the State of Delaware. REX Shares, which is known for offering a variety of exchange-traded products, has gone even further. Its representatives
issued applications for several memecoins at once: TRUMP, BONK and Dogecoin.
If technical analysis is to be believed, Dogecoin is in a bearish trend. This is confirmed by indicators. The price is below the 50-day moving average (in blue), and the stochastic oscillator is declining along with the price, indicating convergence. A change in trend is possible if the resistance level of $0.43381 is overcome. But if the price falls below the support level of $0.33569, then the decline should continue.
Source: https://ru.tradingview.com
Conclusion
The inauguration of Donald Trump caused a stir in the crypto market. However, the fact that he never mentioned cryptocurrencies in his speech, and issued one of the decrees dedicated to the market much later, saddened crypto investors. As a result, a correction occurred in the second half of the week.
Source: Bits

I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.