Key Market Updates
Whale Addresses Holding 1000+ BTC Grow 7.2% Since December
Glassnode data reveals a notable 7.2% increase in addresses holding ≥1000 BTC since December 2020, outpacing the 6.7% annual growth observed last year. Currently, 2,318 wallets meet this threshold, with top 100 addresses largely inactive—suggesting long-term holding strategies.
Grayscale's Accelerated BTC Purchases
Danny Scott, CoinCorner CEO, highlights Grayscale's aggressive buying:
- Q4 2020: Weekly average of $251M BTC
- Last Week: $700M single-day purchase
- Recent: Additional $590M acquisition
Grayscale Trust Holdings (Jan 18):
- BTC: +16,243.55 (+2.63%) → 632,801.43 BTC total
- BCH: +11,356.83 (+4.73%) → 251,395.46 BCH
- LTC: +5,566.41 (+0.48%) → 1,169,254.83 LTC
XRP Developments
- Coinbase Suspension: Trading halted effective Jan 20 (HK Time) following SEC's lawsuit against Ripple.
- Ripple's Former CTO Activity: Jed McCaleb resumed XRP sales after 25-day pause, offloading 28.6M XRP (~$8.8M).
👉 Is XRP a sinking ship? Expert analysis here
BTC Technical Analysis
- Greed Index: 80 (Extreme Greed)
Market Outlook:
- Grayscale's 16K BTC purchase didn't trigger significant price movement, indicating persistent sell pressure.
- 4-hour chart shows triangle consolidation—approaching volatility spike within days.
- Key factors: Continued institutional accumulation favors bullish breakout.
Support Levels:
- ETH: $1,340 (after ATH $1,422)
- DOT: $14.5-$19.4 range (weak rebound, monitor for breakout)
DeFi Sector Performance
Top Projects: UNI, AAVE, COMP
- Short-term: Downtrend likely
- Long-term: Bullish trajectory intact
FAQ
Q: Should I sell my XRP holdings?
A: Given SEC litigation risks and insider sell-offs, conservative investors may consider reducing exposure until regulatory clarity emerges.
Q: How reliable is the greed index for BTC?
A: While useful for sentiment analysis, combine it with on-chain data (e.g., whale activity) for actionable insights.
Q: What's driving ETH's price surge?
A: Network upgrades (EIP-1559) and DeFi's growth are primary catalysts—👉 ETH 2.0 explained
Disclaimer: This analysis represents the author's perspective only and shouldn't be construed as financial advice.
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