The European Central Bank (ECB) lowered its key interest rates by 25 bps, as markets expected. While additional rate reductions are anticipated, persistent services inflation creates uncertainty around the pace and timing. Signs of stubborn services inflation in January's eurozone data could prompt the ECB to take a more conservative approach to future cuts.
Christine Lagarde, President of the ECB, stated that the Czech National Bank is unlikely to add Bitcoin to its reserves following a conversation with its governor, stating that she is "confident that Bitcoin will not enter the reserves of any of the central banks of the General Council". She insisted that central bank reserves must be "liquid, secure, and safe" implying that Bitcoin does not fit these requirements.
Further economic data to watch for is the MoM Core Personal Consumption Expenditure (PCE) Price Index which measures the changes in the price of goods and services purchased, excluding food and energy, released Jan 31 at 14:00 CET.
Grayscale, the asset management firm behind spot BTC exchange-traded fund GBTC, announced the launch of Grayscale Bitcoin Miners ETF, which offers targeted exposure to a global basket of publicly traded Bitcoin Mining companies.
US President Donald Trump told reporters on Thursday that he would go ahead with long-threatened import tariffs of 25% on goods from Canada and Mexico.
Tether, the company behind the largest stablecoin (USDT), is set to introduce the USDT token to Bitcoin and the Bitcoin layer 2 scaling service, the Lightning Network.
Currently, the total stablecoins market cap is $217.275b, with $711.17m inflows recorded yesterday.
Increased stablecoin supply can fuel the crypto market upward momentum.
US BTC Spot ETFs recoded $588.1m of net inflows yesterday Jan 30, an increase of almost 540% compared to the previous trading session. Meanwhile, ETF Spot ETFs reversed their course and recorded $67.8m of net inflows.
The US Securities and Exchange Commission has approved the launch of the Bitwise Bitcoin and Ether exchange-traded fund (ETF), which would give investors exposure to both spot BTC and ETH, weighted by market capitalization.
Kazakhstan is working to formalize its crypto industry, pushing for urgent regulatory reforms as currently only 5% of investors use regulated platforms. The government has already shut down 36 illegal exchanges handling $112.84 million in 2024 and blocked over 3,500 unregistered trading sites, demonstrating its commitment to transforming from an informal crypto hub into a regulated digital asset center.
