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An event-packed January comes to an end, and Bitcoin is set to close positive once more, up 11%. This month saw Bitcoin trade back under $90K for the first time since mid-November, new all-time highs, and price catalyst events that seemed to emerge every few days. From bearish events such as the US DOJ's clearance to sell seized assets, the lack of any mention of crypto in Trump’s inauguration speech, and DeepSeek AI posing a threat to US AI stocks, to bullish catalysts like a dovish tone from Powell and a pro-crypto executive order, the market experienced a constant push and pull.
For those who capitalised on the volatility and corrections that Bitcoin provided throughout the month, the rewards have already been significant—with the potential for much more. This serves as a strong reminder to take advantage of corrections and buy when the rest of the market is fearful.
The past 24 hours have provided a strong finish for the overall crypto market, with about 95% of the top 100 projects posting positive returns, the majority gaining at least 5% or more.
Looking ahead to February, we anticipate less volatility in terms of key catalyst events, which could ultimately work in Bitcoin’s favor. A distraction-free month may allow natural price action to take the lead. Bitcoin remains in a bullish structure and trend on every timeframe, making February look promising for the bulls.
Stormrake Spotlight: Ethereum (ETH) ($3,250)
Stormrake Spotlight: Ethereum (ETH) ($3,250)
Ethereum has shown positive price action after spending several days within the accumulation zone. ETH is now up over 5% from yesterday’s low, showing promising signs as it sets a higher low. Currently, ETH is battling the 21 EMA and is soon to test the 55 EMA resistance levels. To continue its move higher toward the first target, ETH needs to clear both of these moving averages.
BTC/USD Key Levels and Price Action:
BTC/USD Key Levels and Price Action:
Bitcoin has successfully flipped the key $104K resistance into support, re-establishing bullish structure and momentum. A retest of the $104K level seems likely—if it holds, we can expect an upward move that could see Bitcoin retest its all-time high in early February.
BTC Total ETF Flows for 30 Jan: $ +23.3 million
(ETF flow data is sourced from https://farside.co.uk/btc/ and reflects figures at the time of writing.)
ETH/USD Key Levels and Price Action:
ETH/USD Key Levels and Price Action:
Much like Bitcoin, Ethereum has flipped its key resistance into support, shifting the momentum and structure back to the bulls. ETH has also cleared all moving averages, which are clustered around the $3,207 level. This region will be key for ETH to hold in order to trade higher and target the next level at $3,370.
ETH Total ETF Flows for 30 Jan: $ - 27.5 million
(ETF flow data is sourced from https://farside.co.uk/eth/ and reflects figures at the time of writing.)
*All prices are denominated in USD unless stated otherwise*
Written by Alexandar Artis
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