Americas Crypto Daybook: Market Sentiment Boosted by Bullish Social Media Posts

By Omkar Godbole (Times are in ET unless stated otherwise) The last 24 hours have seen an influx of positive social media posts from notable figures, which have contributed to the upward trend in cryptocurrency prices. Bitcoin's price has surged past $98,000 from $96,900, driven in part by Eric Trump's encouragement for World Liberty Financial, a family-linked firm, to invest in the leading cryptocurrency. Charles Hoskinson, founder of Cardano, expressed optimism, stating, "The upcoming crypto bull market will be massive, as evidenced by our ability to absorb a downturn larger than the Luna or FTX collapse and nearly recover: $710 billion in losses and 740,000 traders liquidated in 24 hours. 2025 is shaping up to be a significant year for crypto." As a result, Cardano's ADA token saw a 4% increase, with other major altcoins like XRP, SOL, and ETH also experiencing similar gains, according to CoinDesk data. Despite the analyst community's bearish outlook on ether, institutional investors appear to be buying it up. On-chain analyst Lookonchain reported that a trading firm withdrew 62,381 coins from centralized exchanges over the past two days, transferring them to Coinbase Prime. Market maker Wintermute noted strong over-the-counter demand for ether earlier this week. In other news, Conor Grogan, a Coinbase director, speculated that crypto exchange Kraken may be aware of Bitcoin creator Satoshi Nakamoto's true identity. If so, Nakamoto's holdings of 1.096 million BTC would surpass Bill Gates' wealth. A U.S. Senate bill aimed at regulating stablecoins could boost demand for U.S. Treasuries and drive financial innovation, according to FxPro's chief market analyst, Alex Kuptsikevich. On the macro front, currencies sensitive to China, such as the Australian and New Zealand dollars, have weakened against the U.S. dollar but remain within recent ranges, suggesting that markets do not expect a prolonged U.S.-China trade war. However, with Trump in no hurry to contact President Xi Jinping, gains in risk assets may be capped for now. U.S. Treasury Secretary Scott Bessent has stated that the Trump administration aims to lower U.S. Treasury yields, which could have a positive impact on risk assets. Nevertheless, the 10-year rate may spike higher if Thursday's weekly U.S. jobless claims and fourth-quarter Unit Labor Costs paint a positive picture of the economy, potentially halting BTC's upswing. Remain vigilant! Key Events to Watch Token-Related Events Upcoming Conferences Token Talk By Shaurya Malwa Derivatives Positioning Market Trends Bitcoin Statistics Technical Analysis Crypto-Related Equities ETF Flow Updates Spot BTC ETFs Spot ETH ETFs Source: Farside Investors Overnight Flow Updates Chart of the Day While You Were Sleeping Ether Insights