As of January 30, 2025, $BTC is trading at approximately $105,743, reflecting an increase of about 3.64% from the previous close. The day's trading range has seen a high of $106,351 and a low of $101,423.
Recent News:
Market Rally Amid Federal Reserve Decisions: Bitcoin and other cryptocurrencies have experienced a notable rise, with $BTC gaining 2.7% to trade at $105,253. This surge comes despite the Federal Reserve maintaining interest rates at 4.25-4.5% and acknowledging ongoing inflation concerns. Typically, higher interest rates can suppress crypto prices. Speculation surrounding President Donald Trump's return and his pro-crypto stance, including initiatives like launching the meme coin $TRUMP and establishing working groups for strategic reserves and regulatory frameworks, have contributed to this positive sentiment.
El Salvador's Bitcoin Legislation Update: El Salvador's Congress has swiftly approved a bill to amend the country's bitcoin law to comply with a $1.4 billion loan agreement with the International Monetary Fund (IMF). The IMF had advised the government to limit its exposure to bitcoin and make its acceptance voluntary for the private sector. Despite previous concerns from the IMF, President Nayib Bukele's administration plans to continue purchasing bitcoin to bolster national reserves.
Impact of AI Developments on Bitcoin Miners: The introduction of a cost-efficient AI model by Chinese firm DeepSeek has raised concerns among investors, leading to a significant downturn in the U.S. stock market. Bitcoin mining companies involved in AI, such as Core Scientific, Hut 8, Bit Digital, and Iren Ltd., have experienced share declines ranging from 13% to 18%. However, some analysts view this selloff as exaggerated and see potential buying opportunities, suggesting that AI's power needs may continue to benefit bitcoin miners due to their energy resources.
