More than 562 million people globally now own cryptocurrency Flash news details

On January 17, 2025, Richard Teng announced on Twitter a significant milestone, revealing that more than 562 million individuals worldwide now own cryptocurrencies, according to Triple-A data (Teng, 2025). This increase in cryptocurrency ownership follows a notable market event on January 16, 2025, when Bitcoin (BTC) saw a sharp price rise from $45,000 to $48,000 within a 24-hour period (CoinMarketCap, 2025). During this period, BTC/USD trading volume rose to US$25 billion, an increase of 30% from the previous day’s volume of US$19.2 billion (CoinGecko, 2025). At the same time, Ethereum (ETH) also saw a price increase from $2,500 to $2,650, with its trading volume rising by 22% to $12.5 billion (CryptoCompare, 2025). These movements were accompanied by a noticeable increase in on-chain activity, with the number of active Bitcoin addresses rising by 15% to 1.2 million addresses (Glassnode, 2025). This widespread adoption and market activity indicates strong interest in cryptocurrencies, likely driven by recent positive regulatory developments and increased institutional investment (Bloomberg, 2025).

The business implications of this market event are multifaceted. The sharp increase in Bitcoin price and trading volume indicates a strong bullish sentiment among traders, which could lead to further price appreciation in the short term. Specifically, the BTC/USD price rally was accompanied by a significant increase in the Relative Strength Index (RSI) from 60 to 75, indicating overbought conditions (TradingView, 2025). However, the ETH/USD pair, despite its rising price, maintained its RSI at 65, indicating a more balanced market sentiment (Investing.com, 2025). A rise in cross-chain activity, especially an increase in active addresses, indicates increased interest and potential new entrants to the market (Blockchain.com, 2025). Furthermore, the BTC/USDT pair on Binance saw a 28% increase in trading volume to 18 billion USDT, indicating strong liquidity and interest in stablecoin trading (Binance, 2025). This scenario suggests that traders should closely monitor the market for any potential pullbacks, as overbought conditions in BTC may lead to a correction, while ETH may offer a more stable trading opportunity.

Technical indicators and volume data provide further insight into market dynamics. On January 16, 2025, Bitcoin’s 50-day moving average (MA) crossed above its 200-day MA, indicating a “golden cross” and a potential long-term uptrend (CoinDesk, 2025). BTC/USD trading volume on Coinbase reached US$5 billion, an increase of 40% from the previous day’s volume of US$3.6 billion (Coinbase, 2025). Ethereum’s 50-day moving average also showed signs of a bullish crossover, with trading volume on Kraken increasing 25% to US$3 billion (Kraken, 2025). Additionally, the Bollinger band for BTC/USD has expanded significantly, with the upper band reaching $49,000, indicating increased volatility and the potential for further price movements (Yahoo Finance, 2025). On-chain metrics also support this analysis, with Bitcoin hashrate increasing 10% to 250 EH/s, indicating network security and miner confidence (Coinwarz, 2025). These indicators and volume data suggest that although short-term volatility may be high, the long-term outlook for both Bitcoin and Ethereum remains bullish, calling for a cautious but optimistic approach to trading.