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- Crypto Saving Expert Newsletter - Issue 130
Crypto Saving Expert Newsletter - Issue 130
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Good morning! The last week has been dominated by Trump mania, could this be a new era of crypto? Let’s take a deep dive into what’s happening behind the scenes with bitcoin and the broader Web3 market. 👇
This week's issue will feature technical analysis of bitcoin, $TRUMP, Dogecoin and $MELANIA, as well as important dates and key news stories.
Table of Contents
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The Trump-Crypto Era Begins
President Trump has officially taken office again as he became the 47th President of the United States on Monday, with much anticipation regarding his decision on the future of the cryptocurrency sector.
Bitcoin
Bitcoin hit a new all-time high on Monday as the price soared in the hours before President Trump’s inauguration began.
The price peaked at $109,699 but then came down to test demand again at the vital S/R zone, where the price bounced after the market tanked following the release of MELANIA.
From here, bitcoin is building a rounded bottom which could see the price head back towards the highs and possibly lead to breakout.
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Trump
The Official Trump coin took the market by storm over the weekend, flipping all legacy memes bar DOGE.
The momentum catapulted the TRUMP coin to be the second-largest memecoin on the market. However, the release of MELANIA a day later tanked the price as uncertainty and confusion swept over investors.
The price retraced by 60% and came into a key zone. From here, the price could begin a second rally as long as it holds this key zone.
Dogecoin
Dogecoin is likely to be in the headlines often following the formation of the Department Of Government Efficiency (D.O.G.E).
Still, the price remains trapped within a daily range, possibly heading back towards demand.
If DOGE can break through resistance, it could begin a charge towards $0.5 next.
Melania
The release of MELANIA was unexpected and spiked fear in the market after such a successful TRUMP launch.
The token has dropped 77% from its peak but could be forming a structural base.
Forming a zone where the price is consolidated will tell us if a reversal may be on the cards. From here, the price must not create new lows and show demand if it retests the bottom.
Fear & Greed Index
The Fear and Greed Index remains within Extreme Greed at a score of 76.
Bitcoin hit a new all-time high on Monday, just shy of $110,000, which appears to have perked sentiment among investors.
If bitcoin continues towards $120,000, the Index could push back into the 90s.
Important Dates
Friday 24 January, 14:45 UTC - S&P Global Manufacturing PMI
S&P Global releases the Manufacturing Purchasing Managers Index (PMI) data, which measures the manufacturing industry. The data is a crucial measurement of the US economy as it is a significant portion of the revenue for large businesses.
The data is not forecasted.
Friday 24 January, 14:45 UTC - S&P Global Services PMI
S&P Global also releases a second piece of data, the services PMI data, which measures the service industry. The data is another factor alluding to the economy’s strength as it makes up much of the GDP alongside manufacturing.
The data is not forecasted.
Gainers
Losers
Solana Network Faces Congestion Amid Trump Memecoin Launches
Solana faces network congestion amid Trump memecoin launches. Learn about blockchain disruptions, token distribution controversies, and scalability debates.
The Solana blockchain has experienced significant network disruptions following the launch of memecoins by US President-elect Donald Trump and his wife, Melania Trump, ahead of his inauguration on 20 January.
The launches brought a surge in trading activity, causing temporary congestion on the network.
Key Highlights:
● Memecoin Launches: The Official Trump (TRUMP) memecoin launched on 18 January, followed by the Official Melania (MELANIA) token on 19 January, both on the Solana network.
● Network Disruptions: High trading volumes led to delays, with Solana’s blockchain explorer reporting no new transactions for 30 minutes on 19 January.
● Ongoing Scalability Debate: Solana’s ability to handle high traffic remains under scrutiny after a major outage in February 2024.
Solana Network Congestion
Pseudonymous crypto trader Dave highlighted in an X post that Solana’s blockchain explorer, Solscan, failed to process new transactions for a prolonged period. Users reported errors such as “500 Internal Server Error” when attempting to transact on the network.
Despite these issues, Solana has maintained a 100% uptime over the past 90 days, according to Status.Solana. The network has not faced a complete outage since 6 February 2024.
Token Distribution Concerns
The Trump family’s memecoins have drawn mainstream attention, but their tokenomics have raised questions among investors:
● MELANIA Token: Melania Trump’s token allocation claims include 35% for the team, 20% for the treasury, 20% for the community, 15% for public sale, and 10% for liquidity. However, blockchain analytics from Bubblemaps revealed that nearly 90% of the token supply is held in a single wallet, contradicting the claimed distribution.
● Intellectual Property: The MELANIA token website, “melaniameme.com,” is owned by MKT World, a company linked to Melania’s Trump’s business address at Trump International Golf Club.
Market Impact
The TRUMP token’s market cap plummeted by $5bn within 40 minutes of the MELANIA token launch, dropping 38% from $74.6 to $45.9. As of 9:08 am UTC on 20 January, TRUMP was trading at $57.50, down 3.3% in 24 hours, according to CoinMarketCap.
Scalability Challenges for Solana
The memecoin launches reignited debates around Solana’s monolithic blockchain model. While the network demonstrated resilience, scalability concerns persist as transaction surges lead to intermittent delays. This issue underscores the ongoing competition between monolithic and modular blockchain architectures.
Looking Ahead
As Solana navigates increasing transaction volumes and investor scrutiny, its ability to maintain stability during high-demand periods remains critical. Meanwhile, the Trump family’s memecoins continue to stir controversy, highlighting the need for transparency in tokenomics and distribution practices.
Bitcoin Hits New All-Time High Ahead of Trump Inauguration
Bitcoin has reached a new all-time high above $109,000 ahead of Donald Trump’s inauguration. Learn how speculation around crypto policies and a US BTC reserve is fueling the rally.
Bitcoin (BTC) surged over 6% within minutes on 20 January, reaching a new all-time high ahead of Donald Trump’s inauguration as the 47th president of the United States.
Key Highlights:
● Record Price: BTC briefly surpassed $109,000, breaking its previous all-time high of $108,000 set on 17 December 2024.
● Inauguration Catalyst: Optimism around Trump’s presidency and crypto-related plans fueled the rally.
● Market Sentiment: Speculation around a US bitcoin reserve added to bullish momentum.
Bitcoin Surges Above $109,000
Bitcoin reached $109,036 at 6:55 am UTC before dropping below $108,000 minutes later. At the time of writing, BTC is trading at $108,342, up around 3% in the past 24 hours.
This milestone comes just hours before Trump’s inauguration at 4:00 pm UTC, reinforcing his influence on cryptocurrency markets. His presidential victory on 6 November previously triggered a massive rally, pushing bitcoin above $100,000 for the first time in early December 2024.
Optimism Around Trump’s Crypto Policies
The crypto community has shown growing enthusiasm for Trump’s presidency due to his ambitious plans, including:
● Strategic Bitcoin Reserve: Speculation is high that Trump will establish a US BTC reserve within his first 100 days in office.
● Crypto Deregulation: Expected easing of regulatory burdens to foster market growth.
Rising Speculation on Polymarket
Bitcoin’s latest price surge coincided with a sharp increase in prediction market activity. On Polymarket, the odds of Trump creating a strategic bitcoin reserve climbed to 69% by 6:30 am UTC, moments before BTC hit its new high.
Trump’s Influence on Crypto Markets
Trump’s impact extends beyond bitcoin. On 18 January, he began selling his memecoin, Official Trump (TRUMP), launched on 17 January. The token saw record-breaking growth, potentially multiplying Trump’s net worth by five times.
Donald Trump’s First Day Back As President: A Crypto Recap
Explore how Donald Trump’s first day as the 47th President impacted cryptocurrency and AI.
Donald Trump’s inauguration in 2025 marked the beginning of what could be a pivotal era for the cryptocurrency and technology industries.
Despite high expectations, Trump’s first day in office brought mixed reactions as the crypto community assessed his initial actions, or lack thereof, in shaping digital asset policy. His swift actions on AI regulation also sparked debate over innovation versus oversight.
Bitcoin Hits Record High, Then Dips
The inauguration coincided with bitcoin reaching a new all-time high of $109,000. This surge was attributed to the anticipation of Trump’s pro-business stance and industry-friendly rhetoric during his campaign. However, Bitcoin experienced a sharp 6% decline to $102,000 later in the day, reflecting disappointment as no specific crypto-related actions or mentions were made during his early speeches.
Trump’s silence on crypto assets initially raised concerns, but his administration’s appointments, including Silicon Valley investor David Sacks as the new White House crypto czar, offered a glimmer of hope for clearer regulatory pathways.
Eugene Epstein, head of trading at Moneycorp, noted:
“For the first time, the hype around crypto is reaching the government level. This could be the furthest crypto has ever come in terms of being accepted.”
Trump-Themed Memecoins Cause a Stir
Trump’s re-entry into politics spurred a wave of Trump-themed memecoins, driving speculative trading across multiple blockchain platforms.
Meme-friendly networks, such as Solana, faced congestion as traders rushed to capitalise on the hype surrounding these tokens. While some memecoins gained significant traction, critics warned of speculative bubbles forming in the wake of the frenzy.
This memecoin mania showcased retail enthusiasm and highlighted the risks of volatility and misinformation in the space.
Strategic Bitcoin Reserve Sparks Speculation
During his campaign, Trump floated the idea of creating a US strategic bitcoin reserve, a policy similar to El Salvador’s initiative. The US government, already the largest sovereign holder of bitcoin with over 200,000 BTC (worth nearly $22bn), may increase its holdings under this proposal.
Supporters like MicroStrategy CEO Michael Saylor and Coinbase’s Brian Armstrong praised the concept, calling it a strategic move in the global digital economy race. Armstrong stated, “Bitcoin could be as foundational to the global economy as gold.”
However, Eugene Epstein warned, “Markets are trading on expectations, and unless a concrete state-level plan materialises, we might see a reversion in Bitcoin’s trajectory.”
Trump Revokes Biden’s AI Executive Order
In an interesting move, Trump repealed a key AI executive order enacted by Joe Biden in 2023. This order had established safety and ethical standards for AI, requiring companies to disclose safety tests and address flaws like biases in language models.
Trump criticised the order as overly restrictive and detrimental to innovation.
Tech leaders, including Mark Zuckerberg, Sundar Pichai, and Jeff Bezos, stood by Trump at his inauguration, signalling support for a more free-market approach to AI. However, critics like Alondra Nelson from the Center for American Progress argued that revoking these safeguards without a thoughtful replacement exposes the public to AI risks.
Despite the lack of first-day, crypto-related executive orders, it is anticipated that some will be signed into legislation in the coming days. FOX reporter Eleanor Terrett stated, “In addition to signing an executive order establishing a crypto council, crypto policy leaders are also expecting Trump to sign an EO banning the creation of a CBDC.” Despite the rumours, it is unclear when exactly they will be signed.
Optimism Around Key Appointments
Trump’s appointments of pro-crypto regulators, including SEC acting chair Mark Uyeda and CFTC chair Caroline Pham, have generated optimism within the industry. Both officials are known for opposing heavy-handed enforcement and advocating for clearer crypto guidelines.
Additionally, David Sacks, a prominent Silicon Valley investor, was appointed White House crypto czar. Although details of his role remain unclear, his presence signals a commitment to fostering innovation in the blockchain and crypto sectors.
Jake Chervinsky of the Blockchain Association remarked that these appointments mark a “historic shift” toward constructive US crypto policy.
The Road Ahead
Trump’s return to the White House has set the stage for what could be a transformative period for both cryptocurrency and AI. With key appointments, bold rhetoric, and rising market optimism, the administration is poised to play a central role in shaping the future of emerging technologies.
However, the road ahead is fraught with challenges. The absence of immediate regulatory action could dampen momentum, and the risks of speculative bubbles and overpromises loom large. Whether Trump’s presidency ushers in a golden era or introduces unforeseen challenges, the coming months will be critical for determining the trajectory of U.S. tech policy.
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