Bitcoin Sinks to $93,000, AI Agent Meta Remains Hot, Inflation Issues Spook Markets: This Week’s Crypto Roundup

The cryptocurrency market experienced a liquidation over the past seven days, with a total market capitalization of nearly $200 billion during that period. The price of Bitcoin fell towards $93,000, liquidating hundreds of millions in overleveraged positions in the process, as most altcoins are also in the red.

Bitcoin price is trading down 4.5% compared to seven days ago and is currently around $93,000. This comes after a week of choppy action, where the major cryptocurrency tried to rally towards its peak, but stopped short around $102,000. As soon as the new week began and the expected economic details began to arrive, the market sank, along with the broader stock market.

U.S. employment data came in stronger than expected on Tuesday, leading many investors to fear that the Federal Reserve’s current rate cuts may not last long as inflation has picked up. Recall that the chairman of the institution, Jerome Powell, also hinted at this earlier, saying that 2025 will likely see much fewer rate cuts.

That said, not everything is doom and gloom. While most large-cap cryptocurrencies are in the red, AI agents continue to be the talk of the town. Most of their prices also drop every seven days, but are rising at the slightest sign of recovery, suggesting that interest in them is still strong. Binance even listed some today, highlighting the attention this particular narrative is getting.

That said, Bitcoin’s dominance has exploded by 2% in the past seven days, underscoring its strength relative to the rest of the market.

It will be interesting to see how the rest of the month plays out, especially given that Trump’s inauguration is set for January 20, a date closely watched across the industry.

Market data

Source: Quantify Crypto

Market capitalization: $3.41 thousand | 24 Hour Flight: $181 million | BTC Domain: 54.5%

BTC: $93,800 (-4.5%) | ETH: $3,260 (-8.7%) | XRP: $2.29 (-6.5%)

This week’s crypto headlines you can’t miss

Bitcoin price soars above $100,000 as MicroStrategy announces latest purchase. Unlike MicroStrategy’s previous purchases announced in November and December, this week’s led to an immediate spike in the price of BTC, reaching a multi-week high of $102,000. Interestingly, it was one of MicroStrategy’s most modest acquisitions in recent history, as the company spent “only” $101 million to buy 1,070 BTC.

Arthur Hayes Expects Crypto Market to Peak in March – Here’s Why The former CEO of BitMEX believes that the entire crypto market will go through a real-life roller coaster once January 20 (Inauguration Day) approaches. Apart from the expected short-term fluctuations, he predicted that the current bull cycle still has some steps, but will likely end in March this year.

The US government authorized the liquidation of $6.5 million in BTC from Silk Road, but don’t worry. Perhaps the biggest FUD this week came from a few reports claiming that the US had been cleared to sell $6.5 billion seized on Silk Road. Looking at the fine print, however, shows that the authorities may have already disposed of the assets, so no FUD required.

US Entities’ Bitcoin Holdings Hit Massive Record – Details. On a more positive note from the world’s largest economy, local entities including ETFs, exchanges, MicroStrategy, miners and others have increased their global share of BTC, a figure that is 65% higher than the of the United States. counterparts

Ripple executives meet with Donald Trump at Mar-a-Lago event. With Trump set to take office in ten days and his multiple positive promises for the crypto industry, reports are coming in left and right about crypto executives meeting with the president-elect and his team . The latest to do so were two of Ripple’s CEOs: CEO Brad Garlinghouse and CLO Stuart Alderoty.

Ethereum outperforms Bitcoin as long-term holders rise to 74.7%. Long-term holders (LTH) seem more inclined to hold ETH for a longer period than BTC. Data from IntoTheBlock shows that 74.7% of Ethereum addresses belong to these investors, while the BTC LTH ratio number is just over 60%. However, this is expected to change if the price of ETH approaches its all-time high of nearly $5,000 in 2021.

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This week, we have a chart analysis of Ethereum, Ripple, Cardano, Binance Coin and Solana – click here for the full price analysis.

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