Minseung Kang

Fundstrat strategist Tom Lee has predicted that Bitcoin (BTC) could reach $250,000 this year. According to crypto media outlet CoinDesk on the 14th, Tom Lee stated, "Despite being a highly volatile asset, Bitcoin has only fallen 15% from its peak, which is a normal correction," adding, "Bitcoin is showing strength this year and could reach $200,000 to $250,000 by year-end." He also did not rule out the possibility of further corrections. He predicted, "Bitcoin is forming a strong support line at $70,000 since it started its rally," and added, "If $70,000 breaks, it could test $50,000." The media added, "As Bitcoin stabilizes between $90,000 and $100,000, investor sentiment is shifting from fear to greed."

An analysis has emerged indicating that the speculative demand in the market has decreased, with the amount of Bitcoin (BTC) held by short-term investors reaching its lowest level. On the 14th, blockchain analysis company IntoTheBlock announced on X (formerly Twitter) that "the Bitcoin held by short-term investors has reached its lowest level since mid-November last year." IntoTheBlock analyzed, "This suggests that speculative interest in the market has decreased and the number of new market participants is also declining," adding, "Investors are waiting for clear direction in the adjustment phase."

Bitcoin (BTC) temporarily returned $96,000. On the 14th, BTC price is trading at $96,078 (143,290,000 KRW on Upbit) on Binance USDT market as of 21:27, up 5.91% from the previous day. Meanwhile, according to Cryprice, the Kimchi Premium for major cryptocurrencies including Bitcoin (BTC) is recorded at 1.87%.

Bitcoin (BTC) is nearing the end of its 'consolidation phase' within a range and the potential for a rebound is increasing, according to analysis. On the 14th, cryptocurrency media outlet Cointelegraph reported, "Bitcoin is undergoing adjustments within a broad range of $91,000 to $108,268," but added, "Considering both technical indicators and the upcoming inauguration of Trump, the recent adjustment phase for Bitcoin is nearing its end." Cryptocurrency analyst Rekt Capital stated, "Historically, after Bitcoin hits a new all-time high, the subsequent price adjustment lasts about 3-4 weeks with a decline of 30-35%," adding, "This current downtrend has lasted 4 weeks. The adjustment is likely in its final stage." The analyst explained that the recent decline in Bitcoin was only 15%, which was less than expected. Cryptocurrency analyst Tardigrade also noted, "Bitcoin saw a major rebound after the capitulation (mass sell-off) last January," suggesting, "A similar scenario could unfold this time as well." Cryptocurrency analyst Batman predicted, "The Bollinger Bands have narrowed extremely. The bottom is near." The media outlet added, "Some investors are expecting Bitcoin prices to rise after Trump's inauguration on the 20th," and noted, "In the options market, contracts with strike prices of $100,000 and $120,000 are actively being traded." Meanwhile, Bollinger Bands are graphs that analyze price fluctuations within a certain standard deviation range based on the moving average line of stock prices. When the band's width narrows, a sharp price change is imminent.

El Salvador, the first country in the world to adopt virtual assets (cryptocurrency) as legal tender, is reportedly planning to install Bitcoin (BTC) nodes in every household. According to Bitcoin Magazine, Max Keiser, Bitcoin advisor to El Salvador, stated, "President Nayib Bukele of El Salvador is preparing to install Bitcoin nodes in every household." Meanwhile, in blockchain, a node refers to a machine that can directly communicate with the blockchain network.

The open interest (OI) of Bitcoin (BTC) options launched by global asset management firm BlackRock has reached $11 billion (approximately 16 trillion won), showing significant short-term growth. It is analyzed that trading by U.S. retail investors has increased. On the 14th, cryptocurrency media outlet CoinDesk reported, "The Bitcoin options launched by BlackRock in November last year recorded an open interest of $11 billion as of the 13th," adding, "The demand for regulated cryptocurrency products in the U.S. is clearly increasing." The open interest of BlackRock Bitcoin options has grown to half the size of the Deribit Bitcoin options market, the world's largest cryptocurrency options exchange. Luke Strijers, CEO of Deribit, analyzed, "BlackRock's Bitcoin options are mainly traded by U.S. retail investors," adding, "The activation of BlackRock options does not negatively impact Deribit. Rather, it has brought positive effects, such as promoting strategies to mitigate risks in the cryptocurrency market." Strijers analyzed, "BlackRock's Bitcoin options trading is mainly focused on short-term options. There is high demand for contracts with low price premiums (expiring in the short term)." He explained that BlackRock's Bitcoin options are often used by short-term investors and volatility traders in the U.S. for hedging strategies. The media added, "There was a lack of Bitcoin and Ethereum options platforms for U.S. investors, but BlackRock is successfully filling this gap." Meanwhile, open interest refers to the number of contracts in the derivatives market that traders have not yet settled. An increase in open interest means that funds are flowing into the market. Generally, as open interest increases, the volatility of coin prices is likely to increase.

Bitcoin (BTC) temporarily recovered to $97,000. On the 14th, the BTC price was trading at $97,236 (144.79 million won on Upbit) on the Binance USDT market at 18:51, up 4.63% from the previous day. Meanwhile, according to Cryprice, the Kimchi Premium for major cryptocurrencies, including Bitcoin (BTC), is recorded at 1.81%.

Bitcoin (BTC) temporarily recovered to $96,000. On the 14th, BTC price is trading at $96,247 (₩143,470,000 on Upbit) on Binance USDT market as of 18:25, up 3.73% from the previous day. Meanwhile, according to Cryprice, the Kimchi Premium for major cryptocurrencies, including Bitcoin (BTC), is recorded at 2.07%.

Domestic cryptocurrency exchange Upbit has announced changes to the circulation plan for Jupiter (JUP). On the 14th, Upbit stated, "The Jupiter Decentralized Autonomous Organization (DAO) regularly conducts votes on JUP tokens," adding, "Recently, the Jupiter community passed proposals to airdrop 700 million JUP to users and to reduce the total supply of tokens by 3 billion." With the passage of these proposals, the maximum issuance of JUP tokens will decrease by 30%. Upbit added, "Upbit discloses information on circulation plans and any changes when provided by the project team." Jupiter is a DeFi project aimed at providing users with an optimal trading environment by utilizing liquidity scattered across various Solana (SOL)-based decentralized exchanges (DEX).

Bitcoin (BTC) briefly recovered to $92,000. On the 13th, BTC price was trading at $91,739 (139.6 million KRW on Upbit) on the Binance USDT market at 23:50, down 3.54% from the previous day. Bitcoin expanded its decline during the day, recording a low of $88,909 in the futures market, but later recovered some of the losses. In the virtual asset (cryptocurrency) futures market, liquidation volumes are increasing, leading to heightened volatility. Meanwhile, according to Cryprice, the Kimchi Premium for major virtual assets (cryptocurrencies) like Bitcoin (BTC) is at 3.47%.

The cryptocurrency market, including Bitcoin (BTC), has shown a downward trend, leading to numerous liquidations in the futures market. According to data from CoinGlass, a cryptocurrency market data analysis company, a total of $143.74 million was liquidated in the futures market in the last hour. Specifically, long (buy) liquidations accounted for the majority at $125.92 million, while short (sell) liquidations were recorded at $21.35 million. During the same period, Bitcoin long liquidations amounted to $31.15 million, and Ethereum long liquidations were recorded at $61.77 million. The price of BTC is trading at $91,204, down 3.83% from the previous day, based on the Binance USDT market at 11:45 PM. Bitcoin expanded its decline on the day, hitting an intraday low of $88,909. In the cryptocurrency futures market, the increase in liquidation volume is expanding volatility.

Bitcoin (BTC) has temporarily dropped below $90,000. On the 13th, the BTC price is trading at $89,588, down 5.58% from the previous day, based on the Binance USDT market at 23:36 (₩137,910,000 on Upbit). Bitcoin continues to weaken due to strong U.S. employment data and persistent inflation concerns. Meanwhile, according to Cryprice, the Kimchi Premium for major cryptocurrencies, including Bitcoin (BTC), has recently increased to 4.22%.

Bitcoin (BTC) is maintaining its resilience despite increasing macroeconomic pressures, such as the retreat of interest rate cut expectations, according to an analysis. On the 13th, global cryptocurrency exchange Bitfinex released a weekly research report stating, "Bitcoin has maintained a 42% increase since the U.S. presidential election, outperforming the stock market," and "Expectations for Trump's pro-cryptocurrency policies are limiting the downside and supporting Bitcoin's long-term bullish outlook." During the same period, many stock items have given back all the gains they had made on Trump expectations. Meanwhile, there is also a forecast that Bitcoin may experience increased volatility in the short term. The report added, "The U.S. Federal Reserve is signaling that it may slow down the pace of interest rate cuts and the financial environment is entering a tightening phase," and "Bitcoin may face greater volatility in the short term."

Semler Scientific, a medical technology company that has adopted Bitcoin (BTC) as a strategic asset, reportedly purchased an additional 237 Bitcoins over the past month. According to PR Newswire on the 13th, Semler Scientific announced that it acquired an additional 237 Bitcoins from the 16th of last month to the 10th of this month. This amounts to 23.3 million dollars (approximately 34.2 billion KRW). The average purchase price was 98,267 dollars. Meanwhile, as of the 10th, Semler Scientific holds 2,321 BTC (approximately 191.9 million dollars). The average purchase price is 82,687 dollars.

An analysis has emerged that if the U.S. stock market declines, it could pose a threat to Bitcoin (BTC). However, there is also a forecast that such adjustments are unlikely due to the policies of U.S. President-elect Trump. On the 13th, Eric Balchunas, a senior ETF analyst at Bloomberg, stated on X (formerly Twitter), "I have consistently said that the decline in the stock market would be the biggest risk to Bitcoin," adding, "Trump will probably do everything he can to maintain the stock market. Personally, I'm not too worried about such short-term adjustments, but who knows." Balchunas added, "Bitcoin has its advantages as a 'hot sauce' asset, but it also has disadvantages," noting, "Recently, gold has also been on a decline, but the drop has been much less." The term 'hot sauce asset' is a metaphorical expression for assets with high profitability and volatility.

MicroStrategy announced that it has purchased an additional 2,530 Bitcoins (BTC). On the 13th, Michael Saylor, CEO of MicroStrategy, stated on X (formerly Twitter), "MicroStrategy has purchased an additional 2,530 BTC between the 6th and 12th," adding, "This amounts to $243 million (approximately 357 billion KRW) with an average purchase price of $95,972." Meanwhile, as of today, MicroStrategy holds a total of 450,000 BTC (approximately $28.2 billion) at an average price of $62,691.

The risk index of Bitcoin (BTC) has recently surged, indicating that volatility may increase, warranting caution. On the 13th, 'Negentropic', the account of the Glassnode founder, stated on X (formerly Twitter), "Bitcoin has once again shown a steep bearish turn since April last year," adding, "Although the downward momentum is recovering, the risk index has surged, suggesting that future volatility may increase." The Bitcoin risk index, which had maintained a level of 0 since September last year, has surged to 12 as of today. A surge in the risk index can increase the likelihood of further declines. Negentropic added, "Bitcoin is moving between $92,000 and $100,000, but negative signals are emerging, necessitating a cautious approach."

Small-scale 'shrimp' investors holding less than 1 Bitcoin (BTC) have recently been accumulating more Bitcoin. On the 13th, the on-chain cryptocurrency analysis platform Glassnode announced on X (formerly Twitter) that "Bitcoin has gone through a distribution phase after reaching an all-time high," and analyzed that "shrimp investors holding less than 1 Bitcoin are accumulating 17,600 Bitcoins every month." According to Glassnode, shrimp investors hold 1.36 million BTC, which accounts for 6.9% of the Bitcoin supply.

Last week, digital asset investment products experienced a small net inflow of $48 million. At the beginning of the week, there was a large inflow of about $1 billion, but after the release of macroeconomic indicators, funds quickly exited, resulting in a small net inflow. On the 13th, the cryptocurrency management company CoinShares reported in its 'Weekly Digital Asset Investment Product Fund Flows' report that "digital investment products saw a net inflow of $48 million last week. There was a large outflow of funds following the release of stronger-than-expected US macroeconomic indicators." The report analyzed, "The US economy is showing stronger-than-expected performance, suggesting the possibility of strengthening a hawkish (preference for monetary tightening) stance," adding, "The 'honeymoon' of Trump's election is over. Macroeconomic data is emerging as a key driver." The report explained, "Bitcoin (BTC) saw an inflow of $214 million last week, marking the largest net inflow of $799 million this year," while "Ethereum (ETH) suffered the most with a net outflow of $256 million last week." Many altcoins continued to see net inflows despite a bearish sentiment. According to the report, Solana (SOL) had a net inflow of $15 million last week. During the same period, Ripple (XRP) saw a net inflow of $41 million, and Aave (AAVE), Stellar (XLM), and Polkadot (DOT) also recorded net inflows.

Bitcoin (BTC) temporarily surrendered the $91,000 mark. On the 13th, the BTC price was trading at $90,888 (138.84 million KRW on Upbit) as of 8:43 PM on the Binance USDT market, down 3.62% from the previous day. Bitcoin continues to weaken amid concerns over strong U.S. employment figures and sticky inflation. Meanwhile, according to Cryprice, the Kimchi Premium for major cryptocurrencies, including Bitcoin (BTC), is at 3.58%.

Bitcoin (BTC) temporarily dropped to $92,000. On the 13th, BTC price was trading at $91,379 (₩138,830,000 on Upbit) at 20:14, down 2.89% compared to the previous day in the Binance USDT market. Bitcoin continues to weaken due to strong U.S. employment data and persistent inflation concerns. Meanwhile, according to Cryprice, the Kimchi Premium for major cryptocurrencies like Bitcoin (BTC) is at 3.21%.

Trump 2nd Term, Expectations for Pro-Crypto Policies Rising "AI Agents, Bitcoin DeFi, DePIN, DeSci in the Spotlight" Overall Crypto Market, Trading Volume Declining Long-term Bullish Sentiment Continues As the inauguration of U.S. President-elect Donald Trump approaches in a week, the virtual asset (cryptocurrency) market is showing short-term weakness. However, long-term optimism persists due to expectations that the U.S. will pursue pro-crypto policies. Experts believe that fields such as DeFAI (DeFi+AI, AI DeFi investment), Bitcoin DeFi, DePIN, and DeSci have high growth potential this year. The leading altcoin, Ethereum (ETH), is trading at $3,163 on the Binance USDT market as of 6:40 PM on the 13th, down 2.18% from the previous day (477,600 KRW on Upbit). Many altcoins have shown double-digit declines over the past week, giving up much of this year's gains. At the same time, Bitcoin (BTC) dominance (the proportion of Bitcoin in the total market capitalization of virtual assets) is rising, reaching 58.41% from 56.78% on the 5th. The rise in dominance as Bitcoin prices fall suggests that the altcoin market may soon weaken. "Bitcoin Surged 120% Last Year, Attracting Funds... Bitcoin DeFi Also Expected to Grow Rapidly" First, there is an analysis that the rapid rise of Bitcoin has increased the likelihood of significant growth in Bitcoin-based decentralized finance (DeFi) projects. Recently, Forbes Digital Assets predicted that "Bitcoin DeFi will be a major growth driver in the cryptocurrency market by 2025." In particular, the Bitcoin restaking platform Babylon Labs is gaining popularity by raising about 57,000 BTC. Several projects, including Babylon Labs, are set to issue tokens (TGE) within the first quarter, drawing more attention. Additionally, Fractal Bitcoin (FB) has processed over 1 billion cumulative transactions, and the total value locked (TVL) in Bitcoin DeFi projects like Bitlayer (BTR), BoB, and Mezo is also growing significantly. Web3 consulting firm Dispread stated, "In the Bitcoin ecosystem, restaking projects like Babylon, Lombard, Solv, Pstake, and Bedrock are gaining popularity," adding, "In the long term, as service accessibility improves, the Runes and Ordinals (ORDI) ecosystems will gain renewed attention." Meanwhile, restaking refers to the investment method where investors stake their staked Bitcoin again. Runes is a platform that helps users issue their own tokens (BRC-20) on the Bitcoin blockchain. Ordinals helps issue non-fungible tokens (NFTs) on the Bitcoin blockchain. "Complex DeFi, Now AI Generates Profits... DeFAI on the Rise" Recently, DeFAI (DeFi+AI, AI DeFi investment) projects utilizing 'AI agents' for DeFi investment are on the rise. An 'AI agent' is an AI system that performs various tasks autonomously without human intervention. AI agents assist in managing investors' DeFi portfolios, staking, and liquidity. For example, if a user commands, 'Invest a total of $500 in the liquidity pool offering the best interest rate currently,' the AI agent executes it. Representative DeFAI projects include ai16z (AI16Z), Velvet Unicorn (VU), and the representative AI agent aixbt (AIXBT) of Virtual Protocol (VIRTUAL). Cryptocurrency analyst Hitesh stated, "The market cap of DeFAI is currently below $1 billion but is expected to grow to $10 billion within the next few months." "DePIN Reducing Infrastructure Costs, Expected to Grow 100-1000 Times Over the Next Decade" Decentralized physical infrastructure projects (DePIN) are also expected to show rapid growth. DePIN is evaluated as being able to significantly reduce various infrastructure costs using Web3 technology. Cryptocurrency analysis firm Messari recently reported, "The final market size of DePIN is expected to approach $1 trillion, but currently, it occupies less than 0.1% of the future market value," analyzing that "DePIN is just beginning, with the potential to grow 100 to 1000 times over the next decade." According to the report, there were over 350 projects in the DePIN market as of last year, with a market cap of about $50 billion. Messari analyzed that Helium (HNT), Dawn Protocol (DAWN), Filecoin (FIL), Io.net (IO), Daylight (GRID), Glow (GLOW), Worldcoin (WLD), and Animal (ANML) are leading the growth of DePIN. Dispread predicted, "In the DePIN field, models that collect meaningful data through sensors and integrate it with token economics, such as Hivemapper (HONEY), will be promising," adding, "'Open hardware' DePIN projects, where users provide idle resources like mobile, PC, and graphics cards and receive rewards, will grow further." "Emerging Field 'DeSci' Attracting Industry Leaders' Attention... Launching Its Own Tokens" Recently, the decentralized science (DeSci) field is also gaining attention. DeSci refers to projects that support funding, research creation, and data sharing in scientific research using Web3 technologies like tokenization. According to the AI-based Web3 search platform Kaito, interest in DeSci has surged 2600% this year. Previously, crypto leaders like Ethereum co-founder Vitalik Buterin and former Binance CEO Changpeng Zhao have highly evaluated the potential of the DeSci field. First, Bio Protocol (BIO) is a DeSci project focused on biological research. Bio Protocol currently operates seven bio decentralized autonomous organizations (DAOs). This year, more related research on COVID-19, rare diseases, etc., will be added. Recently, Bio Protocol has launched several proprietary intellectual property (IP) tokens, including Alzheimer's (CLAW), Hemp Fiber (HEPY), Ovarian Aging (OVARIA), and Cryopreservation (CRYORAT). These tokens can be traded on platforms like Bio Launchpad and CoW Swap. Additionally, the decentralized scientific research platform ResearchHub, funded by Coinbase CEO Brian Armstrong, is also gaining attention. ResearchHub has introduced reward mechanisms for publishing, reviewing, and discussing researchers' papers through ResearchCoin (RSC). Recently, ResearchHub announced plans to collaborate with AI agents. Analyst Lucas Rupert Malmstrom stated, "The number of DeSci tokens is currently very small, and the DeSci tokens that will become large blue chips are limited," adding, "The initial bio DAO tokens, which are the original, have a high potential for significant growth in the future." Family Office, which provides financial management services to ultra-high-net-worth individuals, is investing in seven bio DAO tokens, as well as VitaDAO (VITA), Aethir (ATH), Grow (GROW), and Neuron (NEURON). Last Year's 'Worst Performance' for Ethereum Layer 2... This Year's Outlook Last year, the weakness of Ethereum Layer 2 projects was prominent. Sui (SUI) and Solana (SOL) emerged as 'Ethereum killers,' attracting funds to these DeFi (decentralized finance) networks, and competing projects like Hyperliquid (HYPE) were highly successful. Layer 2 refers to networks that implement devices to process data outside the blockchain, reducing fees and increasing processing speed. In fact, Arbitrum (ARB), the number one Ethereum Layer 2 network by market share, fell 54% last year. Also, Blast (BLAST), which attracted significant attention by paying interest just for holding assets on the Layer 2 network, plummeted 85% last year. Polygon (MATIC) fell 54%, and Optimism (OP) also fell 53%. On the other hand, this year, DeFi based on 'Base,' a Layer 2 network launched by Coinbase, is expected to grow. A Dispread representative stated, "Last year, Ethereum Layer 2 projects were only competing for liquidity and failed to form an attractive ecosystem, resulting in poor performance," but added, "This year, DeFi based on Base is expected to be promising, with projects like Aerodrome (AERO) and Morpho (MORPHO) drawing attention." Additionally, there is interest in DeFi projects related to the Trump family. World Liberty Finance (WLFI), supported by President-elect Donald Trump's family, holds tokens such as Aave (AAVE), Chainlink (LINK), Eterna (ENA), and Ondo Finance (ONDO). "Overall Crypto Market, Volatility and Trading Volume Declining... Whale Investors Holding and Watching" Recently, market experts have analyzed that while 'big hand' whale investors are maintaining a wait-and-see stance, individual and small-scale investor trading has slightly increased. As the overall trading volume in the cryptocurrency market decreases, volatility has slightly decreased, and the average loss of investors is observed to be expanding. Experts are forecasting long-term bullish potential despite the recent market weakness. On the 10th, cryptocurrency data analysis firm Santiment reported in a research report, "The buying trend of whales holding between 10,000 and 100,000 Bitcoins appears to have stopped since the 18th of last month," adding, "In particular, the trading activity of these whales has decreased by 14% over the past two weeks. Whales are holding their holdings firmly while watching." On the other hand, individual investor trading volume increased by 22% during the same period, and the number of small wallets is reported to have increased. Despite several positive factors, the overall trading volume in the cryptocurrency market is decreasing. Santiment stated, "The average daily trading volume of the top 10 cryptocurrencies by market cap has decreased by an average of 13% over the past two weeks," adding, "During the same period, Ethereum trading volume plummeted 17%, and meme coin trading volume has shown a significant decline since mid-last month." According to the report, recent spot trading volumes on Binance and Coinbase have decreased by 15% and 12%, respectively. There are also observations that 'defensive selling' to manage risk in the recent volatile market has increased. Alex Kuptsikevich, a senior market analyst at FXPro, stated, "In the recent downturn, the leading altcoin Ethereum has given up all of this year's gains and retreated below the $3,360 level," adding, "The altcoin market remains strong, but investors have become cautious and are opting for profit-taking (realizing profits) rather than future gains." On the other hand, there are also forecasts that the altcoin market is likely to continue its long-term bullish trend. Renowned cryptocurrency strategist Michael van de Poppe stated, "The cryptocurrency market has continued its bullish trend since last November when Donald Trump won the U.S. presidential election, but the upward momentum has quickly reversed due to FUD (fear, uncertainty, doubt) about Tether (USDT) being delisted in Europe, a surge in U.S. Treasury yields, and a strong dollar," diagnosing the situation. The strategist emphasized, "(Despite the recent decline) the cryptocurrency market has returned to levels from six months ago, but there is no signal that the bull market has ended yet." He added, "The current altcoin prices are very undervalued considering the long bull market that will unfold over the next 2-5 years," advising investors to maintain their current investment positions and hold altcoins. Meanwhile, on-chain indicators suggest that the risk for additional purchases or new investment entries is decreasing. Santiment stated, "Some professional traders have expressed concerns that a downturn similar to 2018 and 2022 could return," but added, "The MVRV indicators of many altcoins, including Ethereum (ETH) and Cardano (ADA), are entering the 'opportunity zone.'" MVRV is the ratio of a coin's current market cap to its realized market cap, indicating whether the current price is overvalued or undervalued. Santiment predicted, "Recently, the average loss of investors is increasing. The risk of buying more coins or opening new positions is lower than usual," adding, "If the bleeding in the cryptocurrency market increases further, the likelihood of a price rebound will increase." They explained that the recent 'blood in the streets' period could also act as an opportunity. Kang Min-seung, Bloomingbit Reporter

Bitcoin (BTC) has recently fallen amid signs of overheating in the U.S. economy, according to analysis. There are opinions that volatility could intensify this week as multiple macroeconomic indicators are scheduled to be released. On the 13th, Singapore-based virtual asset (cryptocurrency) trading firm QCP Capital stated through its Telegram channel, "The non-farm payrolls announced last Friday surprised the market with 256,000 cases, exceeding expectations," adding, "Following the release of macroeconomic indicators, the outlook for rate cuts has disappeared, and the stock market, including Bitcoin, continues to decline." There is also analysis that Trump's large-scale tariff policy is fueling inflation concerns. QCP Capital analyzed, "Despite macroeconomic headwinds, Bitcoin is maintaining its support level at $91,000, and Ethereum at $3,100," adding, "Implied volatility also remains relatively low." They continued, "Just because volatility is low doesn't mean the market is safe," adding, "Uncertainty remains ahead of the announcements of the Producer Price Index on the 14th, the Consumer Price Index on the 15th, and unemployment claims on the 16th." They also added, "This week, virtual assets like Bitcoin will be tested on whether they can prove their worth as a hedge against inflation."

Bitcoin (BTC) temporarily dropped below $93,000. On the 13th, BTC price was trading at $93,118 (₩140,290,000 on Upbit) on the Binance USDT market as of 17:27, down 1.26% from the previous day. Bitcoin has been weakening due to strong U.S. employment data and persistent inflation concerns. Meanwhile, according to Cryprice, the Kimchi Premium for major cryptocurrencies, including Bitcoin (BTC), is at 2.46%.

Recently, Bitcoin (BTC) has been undergoing adjustments due to seasonal factors, and the decline is not as significant compared to the past, according to an analysis. On the 13th, cryptocurrency media Cointelegraph reported, "Bitcoin has fallen 10% this month, but in the past, Bitcoin has dropped 25% to 30% in January," adding, "It's not surprising for Bitcoin to decline in January following a halving event." Cryptocurrency analyst Axel Bitblaze stated, "Bitcoin has commonly experienced dumps in January following a halving," noting, "Both January 2017 and January 2021 saw declines." Crypto analyst Crypto Rover mentioned, "Bitcoin has consistently declined at the beginning of each month over the past year," and added, "This decline is just a minor adjustment compared to the past." Stockmoney Lizard analyst also projected, "This cycle has not yet reached its ultimate euphoria. There is room for a larger increase over the next 12 months." The analyst further explained that mass adoption of cryptocurrencies, pro-crypto policies in the U.S., and ETF fund inflows will drive long-term upward trends.

It has been observed that Ripple's stablecoin RLUSD, which was highly anticipated, has not gained significant popularity in the market. On the 13th, the cryptocurrency-focused media Protos.com reported, "The stablecoin RLUSD, which garnered much anticipation from the industry, has not gained significant popularity since its launch in mid-December last year," adding, "RLUSD holds a 0.04% share in the stablecoin market." On this day, RLUSD's market capitalization was about $75 million, far behind Tether (USDT)'s market capitalization of approximately $137 billion. The media analyzed, "RLUSD is traded on only a few exchanges," and "it seems that not being listed on major cryptocurrency exchanges has failed to attract attention."