Cryptocurrency Market Review

📍The cryptocurrency market fell during the day on the consumer inflation report. Inflation turned out to be much worse than forecasts and the cryptocurrency market fell following the stock market.

Then the market recovered quite briskly, but following the same Stock Market. BTC dominance is falling again, and although in alts, the dynamics are quite multidirectional, but the positive and increasing volumes in many coins can no longer be ignored.

In this context, SOL looks like a black sheep, having significantly underperformed the market for several days now. At the same time, the SEC is opening public discussions of four Solana ETFs, and the Solana network metrics are excellent.

Tomorrow, the SEC may approve the XRP ETF. Ripple is so eager and bright to play out all such events, courts, some state cooperation, since in this completely centralized coin there are no other events, but only an imitation of the ecosystem. Conclusion: If this happens, there will be strong growth, without any mysteries and traps.

After Musk's tweet yesterday, PNUT almost hit a new yearly low today. Funny situation.

In BTC ETF, the outflow of funds is decreasing, in ETH, an inflow is already being recorded:

ETF BTC: -$57 million, ETF ETH: +$13 million

✔️TradFi

The CPI (consumer inflation) report came out unexpectedly bad, while most major analysts from Bloomberg and other major publications write that this is a traditional phenomenon for January. Powell (head of the FRS) and members of the FRS commented heavily on the report in negative tones. The likelihood of the Fed cutting the rate in May and early summer has decreased even more.

✔️News

Franklin Templeton has registered a Delaware trust linked to the Solana exchange-traded fund (ETF), indicating it may soon consider launching the fund in the U.S.

CZ (former Binance CEO) got a Belgian Malinois dog - new meme coin is coming.

✔️Basic scenario

Tomorrow is PPI inflation (producer inflation), if it turns out to be as bad as CPI today, the fall will most likely not be so hard. The fall was bought out, and entering the $98,600 - 100,000 zone for BTC is a real goal, possibly tonight.

Judging by BTC dominance, the positive is prevailing in alts. Moreover, if we apply technical analysis to BTC dominance, then consolidation below 61% can cause a rapid growth in alts. I temporarily abandon the bearish mood and will follow the current movement.

The alternative scenario that Trump could trigger is a rejection of the XRP ETF or an overreaction to the PPI. The market will bounce sharply down from $98,600 - $99,000 in BTC and accordingly, altcoins will follow BTC this time too.

✔️What's in long today

LINK, ALGO, LDO, AAVE look interesting at current prices, they won't give you tens of percent per day like a randomly chosen meme coin, but they will definitely support growth in ETH and BTC with more volatility than in these two large coins.

✔️ ETH long is not open, the price has not reached the limit order. ADA short is still in the minus.

✔️Ideas for today

Long XRP (trying the ETF hypothesis)

move stop to breakeven when reaching $2.57

stop loss: $2.3706

take profit: $2.6974

is not a trading recommendation