Flipster Crypto Weekly (January 24)

January 24, 2025

Bitcoin hit a new all-time high above $109,000, fueled by anticipation of Trump’s inauguration and the TRUMP token launch on Solana—a catalyst many thought could ignite alt-season. But after crypto was left out of Trump’s speech, markets quickly corrected, wiping $816M in long positions. Now hovering around $106,000, Bitcoin’s next direction is anyone’s guess.

The SEC’s new crypto task force is stoking regulatory optimism, yet the market is cautious—eyeing what comes next. Retail traders chased memecoins like MELANIA, while institutional flows into crypto ETFs hint at deeper conviction. With the dust settling, opportunities may be emerging for those quick to act.

Bitcoin (BTC)

Weekly performance: +3.24%

Year-to-date (YTD) performance: +10.57%

Bitcoin ($BTC) surged past the $100,000 mark last Friday after being range-bound for nearly two months, fueled by anticipation of the incoming pro-crypto administration. On Monday, the day of President Donald Trump’s inauguration, BTC reached a new high of $109,000. However, prices have since declined from the highs. Despite the pullback, BTC remains in a clear uptrend, with prices trading above key moving averages (MAs), which continue to slope upward.

Ethereum (ETH)

Weekly performance: -0.53%

Year-to-date (YTD) performance: -1.17%

Ethereum (ETH) had a relatively subdued week compared to Bitcoin and Solana. After gaining over 7% during Monday's intraday session, prices were rejected at the downtrend line highlighted in our previous crypto weekly article and subsequently fell below the key $3,300 support level. On a higher time frame, ETH continues to form lower highs, and with prices trading below key MAs, it remains in a downtrend.

Solana (SOL)

Weekly performance: +17.86%

Year-to-date (YTD) performance: +31.78%

Solana (SOL) experienced one of its most bullish weeks in recent months, fueled by its role as the network of choice for the launch of Trump’s memecoin. The significant attention and success of the token onboarded over 200,000 new users to the Solana network and generated $39 billion in DEX trading volume within a single day. The surge in activity drove SOL to reach new highs and surged more than 30% from its recent lows.

OFFICIAL TRUMP (TRUMP)

Within 24 hours of its launch, TRUMP surged by an unprecedented 25,000%, dispelling initial doubts about the token's legitimacy. This meteoric rise propelled President Donald Trump’s backed coin to become the second-largest memecoin by market capitalization, marking one of the most successful launches in the space. However, the initial momentum has since tapered off, with prices now declining by more than 50% from their highs.

Find out more about the TRUMP token by reading our blog article.

Official Melania Meme (MELANIA)

The Official Melania Meme (MELANIA) was launched following the success of TRUMP, aiming to capitalize on Melania's status as the First Lady. However, the launch appears to have backfired, with both MELANIA and TRUMP experiencing significant price declines after the launch. After reaching a peak of $14 on its first day, MELANIA has since dropped by over 80%, highlighting the challenges of sustaining momentum in the memecoin market.

Vine Coin (VINE)

Vine Coin (VINE) experienced a significant surge this week following its launch by Vine co-founder Rus Yusupov. In a week dominated by celebrity-driven memecoins, VINE has emerged as the latest token to capitalize on renewed interest in the revival of the iconic social media platform. 

Disclaimer: This material is for information purposes only and does not constitute financial advice. Flipster makes no recommendations or guarantees in respect of any digital asset, product, or service. Trading digital assets and digital asset derivatives comes with significant risk of loss due to its high price volatility, and is not suitable for all investors.