Here’s a breakdown of the crypto market from last week:
Bitcoin and Ethereum Show Some Good Signs
At first glance, the market looked quiet. But under the surface, capital was very much on the move 💸. Bitcoin spent the week pacing between $89K and $90K after slightly touching $94K. With not-so-much excitement on the Bitcoin side, Ethereum decided to step up like a real brother. ETH offered more composure, holding above $3K after initially reaching $3,100.
However, since it seemed like the major coins were going nowhere, traders shifted their attention elsewhere.
Altcoins & Meme Tokens Lead the Charts
Trading activity leaned heavily toward altcoins, which made up the majority of volume by early January. More than half of all crypto trading volume had shifted into altcoins, while Bitcoin and Ethereum accounted for the remaining 50%. Capital wasn’t exiting the market; it was just looking for action.
That search for momentum was most evident in memecoins. After a rough patch in December, January breathed some life back into them. Bonk led the charge with a 13% increase, Shiba Inu followed with about 7% gains, and smaller names like Pudgy Penguins and Dogwifhat did what they always do when attention returns — move fast and surge in prices.
Beyond memes, regular altcoins also had their moment.
Polygon surged after rolling out its Open Money Stack, a new feature to power borderless transactions between fiat and crypto. Binance Coin (BNB), Ripple’s XRP, and Monero (XMR) also caught interest.
On the ETF (exchange-traded fund) side, Bitcoin ETFs saw notable outflows, and Ethereum ETFs followed shortly after, but prices barely flinched. Overall, Bitcoin jumped sharply within a short window, pulling ETH and XRP along, showing that risk appetite hasn’t disappeared.
The question now is whether Bitcoin will finally break the range or if rotation will keep happening for a little longer.
Disclaimer: This content may cause extreme FOMO (Fear of Missing Out). Side effects of investing include sudden wealth (or, you know, the opposite 😢). Please do your own research (DYOR) or speak to your financial advisor before making any decisions.
