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🌙 Cryptocurrency Market Rebounds After Monday's DeepSeek-Induced Drop

Bitcoin, Ethereum, and other top digital assets posted modest gains as liquidations decreased sharply from Monday's spike.

Author

Mike Gavela
January 28, 2025

Crypto Roundup - January 28

The cryptocurrency market has shown remarkable resilience following a significant downturn. After a sharp decline on Monday, where over $500 million in leveraged positions were liquidated and Bitcoin's price briefly dropped below $60,000, the market rebounded significantly. By Tuesday, Bitcoin had recovered to trade above $61,000, while Ethereum also saw substantial gains. This rebound is part of a broader recovery across all major cryptocurrencies, which overall increased the market capitalization by 7% in just 24 hours.

Top Stories

  • Cryptocurrency Market Rebounds: Following a massive sell-off triggered by liquidations, the market saw a strong recovery with Bitcoin and Ethereum leading the charge.

  • BlackRock's Bitcoin Investment: BlackRock has reportedly purchased an additional USD 1 billion in Bitcoin, increasing its holdings to represent 2.7% of the total Bitcoin supply.

  • Bitcoin Ordinals Hit Low: Bitcoin's Ordinals have plummeted to their lowest levels since February 2024, indicating a cooling interest in this particular asset class within the cryptocurrency sector.

TOP STORIES

Cryptocurrency Market Rebounds After Monday's DeepSeek-Induced Drop - "The Defiant"

Bitcoin, Ethereum, and other top digital assets posted modest gains as liquidations decreased sharply from Monday's spike.

thedefiant.io/news/markets/cryptocurrency-market-rebounds-after-monday-s-deepseek-induced-drop

BlackRock Buys $1 Billion in Bitcoin, Now Holds 2.7% of Total Supply - "The Defiant"

BlackRock, the world’s biggest asset manager, acquired an additional $1 billion worth of Bitcoin (BTC) in the past week, raising its holdings to 2.7% of Bitcoin's total supply.

thedefiant.io/news/markets/blackrock-buys-usd1-billion-in-bitcoin-now-holds-2-7-of-total-supply

Bitcoin's Ordinals Plummet to Lowest Levels Since February 2024 - "The Defiant"

Bitcoin ordinals, which are akin to non-fungible tokens (NFTs) on the Bitcoin network, are suffering as the leading collections trend down to their lowest prices in nearly a year.

thedefiant.io/news/nfts-and-web3/bitcoin-s-ordinals-plummet-to-lowest-levels-since-february-2024

FUNDRAISING

OTHER HEADLINES

Bitwise files for Dogecoin ETF as institutional interest in meme coins grows

Bitwise files the first physically backed Dogecoin ETF under the ’33 Act, marking a milestone in regulated crypto investment.

cryptobriefing.com/bitwise-dogecoin-etf

Coinbase launches in Argentina with VASP license approval

Coinbase launches in Argentina with VASP license approval, bringing secure and compliant crypto services to 5 million daily users.

cryptobriefing.com/coinbase-argentina-expansion-vasp-license

Wholesome Solana Meme Coin Dev Hacked for $1.2 Million—But Says He Won't Give Up - Decrypt

Unicorn Fart Dust creator Ronald Branstetter lost over $1 million in a Solana wallet hack, but says he refuses to give up on his community.

decrypt.co/303190/wholesome-solana-meme-coin-dev-hacked

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