🔊Weekly Market Highlights #132: January 6 - January 12

✨During a week when BTC saw a sharp correction after dropping below the $100K mark, the cryptocurrency market remained relatively subdued. However, notable updates on developments and legal activities still emerged.

✨Over the past week, the crypto market total capitalization decreased by ~$247B (from ~$3505B to ~$3258B).

✨BTC Calms at $94K
✅BTC experienced a turbulent trading week. On Tuesday, it surged past $102K, only to plummet by over $10K within 48 hours. On Thursday, it hit a multi-week low near $91K, briefly threatening to dip below $90K.

✅The following hours saw continued volatility, with a rebound to $96K quickly rejected, sending the price back to nearly $92K.

✅Despite this, the bulls held their ground, pushing BTC to $94K, where it remained for most of the weekend, apart from a brief spike to $95K.

✨Featured News
✅According to a DBNews report, the U.S. Department of Justice has received court approval to liquidate 69,370 BTC (worth $6.5B) seized from the Silk Road darknet marketplace.
Source: https://x.com/tier10k/status/1877176406905356670

✅Vietnam's Ministry of Planning and Investment has proposed a controlled trial of fintech activities, including cryptocurrency exchanges, at financial centers. Ho Chi Minh City and Da Nang will establish these centers in 2025, aiming to position Vietnam as a regional and global financial hub.

✅Data from The Block on January 8 shows that the trading volume ratio between decentralized exchanges (DEX) and centralized exchanges (CEX) has reached a record high of 20.21%. For every $1B traded on platforms like Binance and OKX, approximately $202M was traded on decentralized platforms.
Source: https://www.theblock.co/data/decentralized-finance/dex-non-custodial/dex-to-cex-spot-trade-volume

✅Total 2 Index (Marketcap excluding BTC) is now at $1375B

✨Bitcoin Fear and Greed Index is 61 - Greed, lower than at the beginning of the week (76)

✨Dominance:
✅BTC: 56.9%
✅ETH: 11.9%

📣See you next week!

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