What Happened in Crypto Today: Has the Crypto Market Recovered?

What Happened in Crypto Today: Key Insights on FOMC Meeting & More

FOMC Meeting: Potential Impact on Bitcoin and Crypto in 2025

As the January 29, 2025 FOMC meeting approaches, crypto enthusiasts eagerly await the Federal Reserve’s decision. With 97.3% of market participants expecting no rate hike, the Fed is likely to maintain current rates, focusing instead on inflation and economic trends. A mere 2.7% anticipate an unexpected rate cut, though this remains unlikely. The decision could either fuel a Bitcoin rally or trigger a dip, leaving investors speculating on its ripple effects across the crypto market.

Shiba Inu Whale Buys 257.5B SHIB Amid Market Dip

A major Shiba Inu whale acquired 257.5 billion SHIB tokens worth $4.6 million during a market dip, increasing their total holdings to 477.5 billion SHIB ($8.57 million). Analytics platform Lookonchain highlighted the transaction as a strategic move to capitalize on the lower SHIB price. Such acquisitions often signal investor confidence in potential price recoveries, with whales leveraging market downturns to accumulate significant holdings in anticipation of future gains.

DeepSeek Predicts Bitcoin Surge to $500K Amid Market Volatility

Bitcoin rebounded, as $BTC reflecting 3.60% increase from the past 24 hours, currently priced at $102,917.95 after a recent dip below $100K. Despite investor concerns over the Chinese AI model, DeepSeek, threatening Nvidia's dominance, according to Reuters. DeepSeek forecasts Bitcoin's 2025 price in three scenarios: a base-case of $100K-$150K, a bull case hitting $350K during a "hyperbitcoinization" phase, and a black swan scenario where BTC peaks at $500K. Despite the sell-off, crypto markets are recovering, with optimistic projections fueling investor interest.

Bitfarms Sells Paraguay Mining Facility to Hive for $85M, Shifts Focus to US

Bitfarms is selling its 200 MW Bitcoin mining farm in Yguazu, Paraguay, to Hive Digital Technologies for $85 million. This deal, formalized through a binding letter of intent on January 28, marks Bitfarms' shift towards expanding its Bitcoin and AI infrastructure in the US. The sale, involving one of three BitFarms-owned Paraguayan sites, allows the company to reinvest the proceeds into enhancing its US operations, aligning with its strategic growth plans in mining and AI sectors.

Ripple XRP Secures Key Licenses in Texas and New York

Ripple Labs has achieved a significant milestone by securing money transmitter licenses in Texas and New York, strengthening its U.S. presence. With over 50 licenses across various jurisdictions, Ripple can now enhance its cross-border payment services. These states, known for their strict regulatory standards, provide a strong foundation for Ripple’s growth. Texas, a hub for crypto mining, and New York, a key digital asset center, positioned Ripple for greater service access and market expansion in the U.S.