NAIROBI (CoinChapter.com) — The cryptocurrency market has remained in a state of flux as Bitcoin (BTC), Sui (SUI), and the TRUMP token have attracted widespread attention.
Bitcoin Breaks Record Ahead of Trump Inauguration
Bitcoin surged to a new all-time high of $109,420 on Jan. 19, just hours before President-elect Donald Trump’s inauguration. This recovery came after BTC briefly fell below $100,000 amid broader market corrections. By achieving this milestone, BTC’s market cap exceeded $2.1 trillion, trailing only Amazon and Alphabet among the world’s largest assets.
Bitcoin Breaks $108K, Market Cap Hits $2.14T. Source: CoinMarketCapThe rally coincided with a 475% weekly surge in inflows into U.S. spot Bitcoin exchange-traded funds (ETFs), which totaled $1.8 billion. According to Farside Investors, inflows reversed earlier outflows triggered by bearish sentiment over robust payroll data.
Optimism surrounding Trump’s potential crypto-friendly policies appears to have spurred the recovery, with speculation of an executive order prioritizing cryptocurrency regulation adding fuel to the rally.
Total crypto liquidations over the past 24 hours. Source: CoinGlassDespite the bullish momentum, BTC remains susceptible to high volatility. Over $1.18 billion in liquidations occurred on Jan. 19, highlighting the risks of trading in an unpredictable market.
Can Sui (SUI) Hit $50? Analysts and Whales Bet Big
Sui (SUI) is forming a steady upward pattern, prompting bullish predictions from analysts. That Martini Guy forecasts a jump from $5 to $50 over the next year, while CryptoBullet expects SUI to hit double digits this quarter, likening its setup to Bitcoin’s rally in 2019.
SUI/USD price trades inside a rising wedge. Source: TradingViewThe chart shows SUI trading at $4.79, with the Fibonacci 0.618 level at $4.89 acting as a key resistance. A breakout above this level could push SUI toward $5.94 and $6.99, aligning with bullish forecasts. The RSI at 52.29 reflects balanced conditions, suggesting the potential for further gains if buying pressure intensifies.
Grayscale and VanEck’s backing have boosted Sui’s credibility, while whale trades are increasing its trading volume. Retail traders are eyeing potential breakouts as bullish sentiment continues to build around the token.
TRUMP Token Delivers Multi-Million Dollar Profits
The TRUMP meme coin has become a hotspot for speculative traders. One whale turned $12 million into $23.8 million by buying TRUMP tokens at $13.94 and selling at $27.67, earning $11.8 million in profit. Another investor converted $1.1 million into $70 million within hours during the token’s price surge.
Whale Nets $11.8M Profit on Trump Token. Source: LookonchainTRUMP hit $35 before falling to $26.72, a 328% daily gain. Large-scale purchases, including $14.3 million worth of Solana (SOL), pushed the token’s value higher. Trump’s team sold $500 million worth of tokens while retaining 85% of the supply, sparking concerns over manipulation.
TRUMP’s market cap is now $6 billion, attracting both traders chasing profits and critics questioning its lack of utility.
Bitcoin’s rise, Sui’s adoption, and the speculative surge in TRUMP token showcase the volatile nature of the crypto market.
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