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Crypto markets surge amid key developments

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Rachael Lucas
Crypto markets surge amid key developments

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State of crypto

  • BlackRock’s Larry Fink sees tokenisation as finance’s next big leap
  • Bitcoin and crypto market set for rally as SEC launches crypto task force
  • US Senator Lummis calls for 'Strategic Bitcoin Reserve' after discussions with Eric Trump
  • Trump and crypto execs tease huge White House plans as meme coin launches stir market
  • XRP gains momentum as SEC task force sparks optimism for ETFs and long-term growth
  • Ethereum struggles as Solana thrives, bolstered by Trump meme coins
  • Crypto ETF filings surge as SEC leadership shifts: 33 and counting
  • Bank of America CEO: Crypto payments adoption ready to roll with regulatory approval

BlackRock’s Larry Fink sees tokenisation as finance’s next big leap

BlackRock CEO Larry Fink believes tokenising assets like stocks, bonds, and currencies is the future of finance. He described the lack of progress in this area as "crazy," arguing that it’s time to move towards this cutting-edge innovation. Fink also highlighted Bitcoin as a hedge against concerns about currency debasement and political instability, pointing to its growing appeal on a global scale.

Meanwhile, BlackRock made waves by purchasing US$600 million in Bitcoin, its largest buy this year, underscoring its bullish stance on crypto. Separately, Circle CEO Jeremy Allaire shared optimism about upcoming regulatory clarity under acting SEC Chair Mark Uyeda and the potential repeal of SAB 121, which could reshape the crypto landscape.

Ondo Finance

Bridging traditional finance and blockchain for a tokenised future

ondo-finance

Ondo Finance is a decentralised finance (DeFi) platform aimed at bridging traditional finance and blockchain technology. By tokenising real-world assets (RWAs), such as U.S. Treasuries, Ondo enables users to trade tokenised versions of these assets within a regulated environment.

View Ondo on BTC Markets

Bitcoin and crypto market rallies as SEC launches crypto task force

Bitcoin and the broader crypto market saw a slight uptick following the announcement of a new crypto task force by acting SEC Chairman Mark Uyeda. The task force, led by pro-crypto Commissioner Hester Peirce, aims to establish a clearer and more practical regulatory framework for digital assets, moving away from the SEC's previous "regulation by enforcement" approach. The initiative is seen as a positive step towards a more transparent and investor-friendly environment. If successful, this could drive further investor confidence and boost the appeal of cryptocurrencies in the long term.

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US Senator Lummis calls for 'Strategic Bitcoin Reserve' after Capitol discussions with Eric Trump

Senator Cynthia Lummis of Wyoming has stressed the need for a 'Strategic Bitcoin Reserve' following discussions with Eric Trump during an inaugural lunch at the Capitol. Lummis urged against distractions and emphasised the importance of Bitcoin as a reserve asset, reflecting growing interest in the cryptocurrency’s role within the financial system. Her comments come amid rising momentum in cryptocurrency ETF submissions and the departure of SEC Chair Gary Gensler, suggesting a shift toward exploring Bitcoin's potential within political circles.

Trump and crypto execs tease huge White House plans as meme coin launches stir market

Donald Trump's meme coin launch has caused a stir in the crypto market, with the coin breaking into the top 20 by market cap and hitting US$14 billion. Just days later, Melania Trump launched her own rival cryptocurrency, briefly causing Trump's coin to dip. Leaks suggest Trump is preparing a series of crypto-focused executive orders, fuelling speculation that a U.S. Bitcoin reserve could be on the horizon. Meanwhile, the crypto market is bracing for further bombshell announcements from the Trump family, with World Liberty Financial, a decentralised finance project backed by Trump, seeing a surge in sales. Trump's son Eric teased that more is to come, further heightening excitement within the crypto community.

XRP gains momentum as SEC task force sparks optimism for ETFs and long-term growth

Ripple's XRP is on the rise, buoyed by a 18.1% gain in the last trading week and promising developments from the SEC's new crypto task force. This move could bring much-needed regulatory clarity, potentially resolving Ripple's legal challenges and paving the way for XRP ETFs. Institutional interest is growing, with big asset managers already filing for XRP ETFs, generating excitement across the market. Meanwhile, investors are withdrawing XRP from major exchanges, hinting at long-term confidence. As the market awaits further regulatory developments, XRP is consolidating around the US$3.00 range.

Crypto ETF filings surge as SEC leadership shifts: 33 and counting

The race for crypto ETFs is heating up. Since SEC Chair Gary Gensler stepped down last Friday, the number of crypto ETF filings has doubled, jumping to 33. Industry watchers believe we could see this list grow to 50 in the coming weeks. The surge in filings shows renewed enthusiasm and optimism for digital asset ETFs in the market.

james-seyffart-etfs-crypto

Source: @JSeyff

spot bitcoin eft inflows

Source: TheBlock.co

Bank of America CEO: Crypto payments adoption ready to roll with regulatory approval

Bank of America’s CEO has revealed that the financial industry is prepared to integrate cryptocurrency payments into the mainstream, but the key lies in regulatory approval. This statement highlights the growing acceptance of digital assets among major financial institutions, with readiness hinging on clear guidelines from regulators.

Ethereum struggles as Solana thrives, bolstered by Trump meme coins

Ethereum is losing ground to its rivals, particularly Solana, as it fails to capitalise on the momentum created by President Donald Trump's entry into the meme coin market. The ETH-to-BTC price ratio has fallen to its lowest point since 2021, while Bitcoin hits new record highs. Solana has seen its token surge, driven by the launch of Trump and Melania's meme coins, pushing Solana's price to new heights.

Ethereum's performance has been lacklustre, with the token still 30% below its 2021 peak and seeing much lower demand compared to Bitcoin and Solana, which have both seen major gains. Investors are concerned about Ethereum’s lack of new developments, and despite plans by co-founder Vitalik Buterin to shake up the network’s leadership, there seems to be limited excitement in the market. The rise of Solana as a hub for meme coins further intensifies Ethereum's struggles.

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Crypto Fear & Greed Index

crypto fear and greed index

Source: Fear & Greed Index

BTC Markets in the news

ABC Canberra’s Drive with Georgia Stynes

BTC Markets recently had the opportunity to discuss crypto on ABC Canberra’s Drive with Georgia Stynes. The conversation highlighted Bitcoin’s growing adoption by major institutions, its deflationary nature, and how meme coins are shaping cultural trends in the market. Read more here.

BTC Markets announcements

BTC Markets applauds US SEC’s proactive steps toward digital asset regulation

BTC Markets commends the U.S. SEC for establishing a dedicated crypto task force under Acting Chair Mark Uyeda. This bold initiative is a vital step toward a balanced and transparent regulatory framework for digital assets in the U.S.

Regulatory clarity, exemplified by the approval of Bitcoin and Ethereum spot ETFs in the US in January 2024, has significantly influenced the industry. It enhances institutional confidence, encourages broader market engagement, and underpins the sustained growth of the crypto sector.

The task force, led by Commissioner Hester Peirce, underscores the importance of collaboration with industry stakeholders. Her longstanding advocacy for innovation and fair oversight provides a solid foundation for future policies. Read more here.

What is ‘Policy Week 2025’ and why should you care?

policy week 2025

Policy Week 2025 is a landmark event taking place from 10–14 March in Sydney, Australia, designed to shape the future of the digital economy. It brings together policymakers, industry leaders, and regulatory pioneers to address key challenges and opportunities in digital assets, blockchain, regtech, and fintech.

Why should you care?

Because the regulatory landscape is shifting dramatically, especially in regions like the US, APAC, the UK, and the EU, and these changes will define the future of innovation, investment, and adoption in the digital economy. Policy Week 2025 is focused on creating actionable outcomes, ensuring that frameworks are not only adaptive to these changes but also drive sustainable growth.

If you’re passionate about the intersection of technology and regulation, or if your business operates in this evolving space, Policy Week 2025 offers the chance to influence the conversation, network with industry pioneers, and stay ahead of the curve in shaping tomorrow’s digital landscape.

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The week ahead: economic events

Thursday, January 23rd

  • 10:50am Japan Balance of Trade

Friday, January 24th

  • 10:30am Japan Inflation Rate
  • 11:01am United Kingdom Consumer Confidence
  • 11:00am Japan Interest Rate
  • 7:30pm Germany Manufacturing PMI

Monday, January 27th

  • 9:30am China NBS Manufacturing PMI
  • 5:00pm Ifo Business Climate

Source: trading economics

Market reflections

Overview

Australia's economic outlook shows steady but slow recovery, with unemployment slightly rising but employment reaching a new high in December 2024. Consumer inflation expectations dip to 4% in January 2025. Globally, mixed signals emerge as US building permits decline while housing starts and retail sales rise. China's Q4 growth is driven by stimulus measures, while the UK faces rising unemployment and weak retail sales. Germany’s economic sentiment drops, and Canada's inflation eases, indicating stability.

Australia

  • Australia’s economic outlook: steady but slow recovery ahead
  • Unemployment rises slightly, but employment hits a new high
  • Consumer inflation expectations dip to 4% in January 2025

Australia’s economic outlook: steady but slow recovery ahead

Australia’s economic outlook in December 2024 remained largely unchanged, with the Westpac-Melbourne Institute Leading Economic Index holding steady after a small rise in November. However, the six-month annualised growth rate declined slightly, suggesting a slower pace of economic activity in the months ahead, although it remained positive for the second consecutive month. Westpac forecasts GDP growth to improve gradually throughout 2025, reaching 2.2% by the end of the year, significantly better than the 0.8% growth seen in the year to September 2024, but still relatively modest. With inflation expected to continue moderating, Westpac anticipates that the Reserve Bank of Australia will hold the cash rate steady in February, with rate cuts potentially starting in May.

Australian unemployment rises slightly, but employment hits a new high in December 2024

Australia's unemployment rate rose to 4.0% in December 2024, up from November's eight-month low of 3.9%, in line with market expectations. The number of unemployed increased, with more people seeking full-time roles, while part-time job seekers decreased. On a positive note, overall employment grew, reaching a new record high. Part-time employment surged, although full-time employment saw a slight decline. The participation rate edged up to 67.1%, matching previous peaks, while the underemployment rate saw a modest decrease.

Australian consumer inflation expectations dip to 4% in January 2025

Consumer inflation expectations in Australia dropped to 4% in January, easing from a three-month high of 4.2% in the previous period. Over the long term, inflation expectations have averaged 4.36% from 1995 to 2025, peaking at 8.6% in July 2008 and hitting a low of 2.8% in September 2013.

Global

  • Mixed signals as building permits dip; housing starts and retail sales climb in the US
  • China's economy grows in Q4, driven by stimulus measures and strong industrial output
  • UK sees rising unemployment, slipping retail sales, and modest economic growth
  • Germany's economic sentiment drops as challenges mount in January 2025
  • Canada’s inflation eases further, signalling continued economic stability

United States

Mixed signals as building permits dip, while housing starts and retail sales climb in the US

December 2024 brought contrasting trends in the US economy. Building permits fell by 0.7%, slightly outperforming expectations, while housing starts surged. Retail sales rose by 0.4%, showing strong consumer spending despite being the smallest increase in four months.

China

China's economy grows in Q4, driven by stimulus measures and strong industrial output

China's economy grew by 5.4% year-on-year in Q4 2024, surpassing market expectations and accelerating from 4.6% in Q3. This marked the strongest annual growth rate in over a year, bolstered by stimulus efforts aimed at spurring recovery and boosting confidence.

Despite positive trends, the unemployment rate reached a three-month high. Full-year GDP growth aligned with Beijing’s target of around 5%, although it fell short of the 5.2% growth in 2023. Fixed investment rose by 3.2% for the year, outpacing the previous year's growth. The trade sector performed well, with exports posting a double-digit rise in December, marking a significant recovery from earlier slowdowns.

Germany

Germany's economic sentiment drops as challenges mount in January

Germany’s economic outlook took a hit in January 2025, with the ZEW Indicator of Economic Sentiment falling to 10.3 from 15.7 in December, missing expectations of 15.3. This decline reflects ongoing struggles in the economy, which contracted for the second year in a row in 2024. Weak consumer spending and low demand in construction have been key factors, raising concerns about recovery in 2025. With inflation rising and political uncertainty increasing, including the challenges of coalition-building and potential shifts in U.S. policies under the new Trump administration, the outlook remains cautious. However, the assessment of the current situation saw a small improvement, rising to -90.4 from -93.1.

United Kingdom

UK sees rising unemployment, slipping retail sales, and modest economic growth

The UK’s unemployment rate climbed to 4.4% in late 2024, marking its highest level since May, while retail sales unexpectedly dropped by 0.3% in December, largely due to falling food store sales. Despite these setbacks, the economy showed slight growth of 0.1% in November, driven by strong services and construction sectors, though growth missed expectations. Retail sales for 2024 rose 0.7%, reversing two years of decline, and full-time employment remains a bright spot in the labour market.

Canada

Canada’s inflation eases further, signalling continued economic stability

Canada's inflation rate cooled to 1.8% in December 2024, down slightly from 1.9% in November and below the expected 1.9%. This marks the slowest price growth since September, indicating ongoing stability in the economy. For five months running, inflation has stayed at or below the Bank of Canada’s target of 2%, raising hopes for more rate cuts in 2025. Key drivers of this decline included slower price increases for food, which saw inflation drop to 0.6%, and shelter costs, which eased to 4.5%. However, transportation costs, particularly gasoline, picked up speed with a 2.3% increase. Overall, monthly consumer prices fell by 0.4%, suggesting moderation across sectors and setting the stage for potential monetary policy shifts.

Scam awareness

Types of scams: Ways scammers reach you

Text or SMS scams

Scam messages look like they are from the government, businesses you deal with or even your own family or friends to try to catch you out.

They sound urgent to get you to act quickly. They often have a link which will take you to a scam website. Scammers can steal any personal information entered on these scam websites and use it to take your money or commit fraud in your name.

To make these message look real, scammers spoof (copy) the phone number and sender ID of businesses or people you know. Scam messages can even appear in the same message chain as real messages from the organisation, making them even harder to spot.

Learn more at scamwatch.gov.au

Discover more on our ‘Compliance conversation’ blog page, where we share the latest updates on safeguarding against scams and protecting your assets. Stay informed and stay protected!

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