Bitcoin's price has bounced back this week. On January 20, it hit a new all-time high of $109,114.88. Since then, it’s been holding strong, trading around $105k on Saturday night.
This jump coincided with Donald Trump taking office as the 47th president of the U.S., making him the most crypto-friendly president we've had so far. On the flip side, the Official Trump (TRUMP) and Official Melania memecoins have taken a big hit, with $TRUMP down 58.91% and $MELANIA dropping a whopping 79.36% from their peaks.
Meanwhile, Trump signed an executive order to set up a working group focused on digital asset markets. This team is supposed to determine how the U.S. can lead in the crypto space and consider creating a national digital asset stockpile.
It’s an exciting time for the crypto world, and things are looking good for the rest of 2025. Here are the key updates from last week.
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TOP CRYPTO NEWS RECAP (January 19-25, 2024)
- Bitcoin Has the Potential to Surge to $150K
- Trump Pardons Silk Road Creator Ross Ulbricht
- MicroStrategy's Debt Buyback Amid Tax Concerns
- Trump Signs Executive Order on Crypto
- SEC Repeals Controversial Crypto Rule SAB 121
- Memecoin ETFs Likely to Gain Approval Under New SEC Leadership
Bitcoin Has the Potential to Surge to $150K
Analyst James Check from Glassnode suggests that Bitcoin could reach a peak of $150,000 in its current cycle, mirroring the 2016-2017 trend. He identifies the $120,000 to $150,000 range as a potential "topping cloud," indicating that prices above this level may not be sustainable. Currently trading around $104,000, Bitcoin's rise could yield significant profits for both short-term and long-term holders. Check anticipates a consolidation phase until May, with comparisons drawn to the previous cycle's behavior.
Trump Pardons Silk Road Creator Ross Ulbricht
US President Donald Trump has pardoned Ross Ulbricht, the founder of the Silk Road online drug market, after Ulbricht spent over 12 years in prison. Trump announced the pardon on January 21, stating that Ulbricht's sentence of 40 years plus two life sentences was “ridiculous.” This decision fulfills one of Trump’s promises to the crypto community, which had long advocated for Ulbricht’s release, arguing he played a significant role in Bitcoin's early adoption. Trump's pardon reflects ongoing debates about justice and the implications of digital marketplaces.
MicroStrategy's Debt Buyback Amid Tax Concerns
MicroStrategy has announced a redemption notice for its $1.05 billion 2027 convertible senior notes, allowing note-holders to redeem or convert their securities by February 24. This move coincides with discussions around a potential tax on $19 billion in unrealized capital gains under the Corporate Alternative Minimum Tax from the Inflation Reduction Act. The company, which holds over 461,000 BTC valued at approximately $49 billion, faces risks as volatility in digital assets could impact its financial stability and shareholder equity.
Trump Signs Executive Order on Crypto
President Donald Trump has signed an executive order establishing a working group focused on cryptocurrency regulations while prohibiting the development of a US central bank digital currency (CBDC). Announced on January 23, the order aims to position the US as a leader in the crypto space, with the group tasked to explore regulations for stablecoins and the creation of a national digital asset stockpile. The initiative revokes a previous order from President Biden, reflecting Trump's commitment to the crypto industry during his campaign.
SEC Repeals Controversial Crypto Rule SAB 121
The U.S. Securities and Exchange Commission (SEC) has revoked the contentious SAB 121 rule, which mandated financial firms to classify customer-held cryptocurrencies as liabilities on their balance sheets. This move, announced on January 23, 2025, aims to alleviate administrative burdens on the crypto industry. SEC Commissioner Hester Peirce and other lawmakers praised the repeal, arguing that SAB 121 hindered innovation and posed risks to American banking practices. The cancellation reflects a shift in the SEC's approach to digital asset regulation, marking a significant policy change.
Memecoin ETFs Likely to Gain Approval Under New SEC Leadership
The approval of memecoin-based exchange-traded funds (ETFs) appears more feasible following the departure of former SEC chair Gary Gensler. Regulatory experts suggest that new SEC leadership, particularly acting chair Mark Uyeda, may favor the approval of ETFs for tokens like TRUMP, Dogecoin (DOGE), and Bonk (BONK). This shift comes amid increased retail interest, especially after the launch of the Trump family's memecoins. However, experts caution about the inherent volatility and speculative nature of these investments, reminiscent of the GameStop saga.
NEWS FROM MELEGASWAP
Official Trump (TRUMP) Farm and Pool Listed on MelegaSwap
We are excited to announce a new premier marketing partnership with Official Trump (TRUMP) on the Polygon network. This represents the Polygon version of $TRUMP. 1 billion tokens minted, 80% of the supply burned, and only 200 million tokens in circulation.
Melania Meme (MELANIA) Farm and Pool Listed on MelegaSwap
We are excited to support the $MELANIA project on the Polygon network. This is the POLYGON VERSION of the MELANIA OFFICIAL MEME. 1 billion tokens minted, 900 million for the community, and NO taxes.
Butthole Coin (BHC) Trading Starts on MelegaSwap
Butthole Coin (BHC) has officially ripped into the crypto space, bringing with it the winds of change—and maybe a little laughter. We’re not here to play nice; we’re here to make noise, turn heads, and redefine what it means to be a meme coin.
VANKA TRUMP (IVANKA) Trading Starts on MelegaSwap
Welcome to the $TRUMP craze.
Donald Trump Jr. (JUNIOR) Trading Starts on MelegaSwap
The Only Official Donald Trump Jr. SOL Meme. $JUNIOR ( Trump's Son )
Official Barron Meme (BARRON) Trading Starts on MelegaSwap
Welcome to the $TRUMP craze
BOTIFY (BOTIFY) Trading Starts on MelegaSwap
Botify.cloud is the Shopify of crypto, featuring a marketplace, AI agent & bot creation hub.
JONKY (JONKY) Farm and Pool Listed on MelegaSwap
The new groundbreaking memecoin on Polygon from the developer of Crow with Knife (over 30M market cap project). JONKY represents a wealthy, stylishly dressed monkey who loves to chill and enjoy life, attending pool parties and exclusive events. Call Me Jonky is poised to become an icon thanks to the support of crypto KOLs and influencers.
Vine Coin (VINE) Trading Starts on MelegaSwap
This is a memecoin dedicated to the Vine platform. Will Elon Musk be able to revive it?
ALON (ALON) Trading Starts on MelegaSwap
$ALON is a meme coin. Pumpfun's developer, Alon, is its CTO. Alon didn't create it but took over the Telegram group established for the coin more than half a year ago and funded Dexscreener. Alon says, "In a world with permissionless asset creation, most people will have their own coins. That being said, it's probably best to agree on one for yourself relatively early so people don't get farmed on other coins or engage in PVP."
MelegaSwap Announces a New Marketing Partnership with Donald Toad Coin (DTC)
Donald Toad Coin (DTC), launched on November 3, 2024, is a meme-driven "Culture Coin" born from the Linea community. DTC rewards and empowers active participants in the Linea Ecosystem. Playful yet purposeful, DTC embodies the creativity and engagement of its community, bridging satire with blockchain innovation.
Cristiano Ronaldo (CR7) Trading Starts on MelegaSwap
Just $CR7
Ben Pasternak (PASTERNAK) Trading Starts on MelegaSwap
The Ben Pasternak memecoin (PASTERNAK) is created by a visionary entrepreneur who believes in the power of simple ideas evolving into great products. He views memecoins as cultural prediction markets and is on a mission to deliver standout products with a team of exceptional engineers.
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