Bitcoin surged over 6% on Jan 14, 2025, surpassing $97,000, driven by a broader rally in global equity markets and anticipation of key US economic data. Altcoins, including Ethereum and Solana, also saw significant gains, while derivatives markets showed bullish sentiment.
Investors are closely watching the release of US inflation indicators like the PPI and CPI, which are critical for Federal Reserve rate decisions. Futures markets suggest a 97.3% likelihood of steady interest rates, but rising U.S. Treasury yields could challenge Bitcoin's liquidity.
USD inflows into the stablecoin market show an unstable trend since the beginning of the month, reflecting an uncertain and cautious crypto market. The absence of sustained inflow or outflow momentum suggests that investors are reacting to short-term events rather than committing to long-term positions. The reduced activity in recent days may indicate a lull, but it also underscores the need for vigilance as markets could react strongly to any significant developments.
The Thai SEC is considering local Bitcoin ETFs approval, allowing access to both individuals and institutions. Meanwhile, the Thai police department has proposed a ban on Polymarket, calling it an “illegal gambling” site.
Japan, South Korea, and the US warned the global crypto industry about threats posed by hack groups allegedly tied to the Democratic People’s Republic of Korea (DPRK) in a joint statement published on Jan 14.
South Korea kicks off talks on the second phase of crypto regulations, focusing on stablecoins and user protection, with a draft expected by mid-2025.
