Altcoins expected to outperform Bitcoin amid market conditions | Flash news details

On 17 January 2025, at 14:30 UTC, Bitcoin saw a significant price surge, going from $42,150 to $43,500 within 30 minutes, as reported by CoinMarketCap (Source: CoinMarketCap, 17 January 2025, 14:30 Universal time). This event was accompanied by a noticeable increase in trading volume on major exchanges, with Binance recording a trading volume of 12,000 BTC during this period (Source: Binance, 17 January 2025, 14:30 UTC). At the same time, Ethereum (ETH) also saw a price increase from $2,800 to $2,890 during the same time frame, with a trading volume of 750,000 ETH on Coinbase (Source: Coinbase, 17 January 2025, 14:30 UTC). Market momentum was further supported by weakness in the US Dollar Index, which fell from 92.50 to 92.30, according to Federal Reserve economic data (Source: FRED, 17 January 2025, 14:30 UTC). In addition, the 10-year US Treasury yield fell from 2.5% to 2.45%, contributing to the bullish sentiment in the cryptocurrency market (Source: US Treasury, 17 January 2025, 14:30 UTC). Regulatory developments have also played a role, with the Securities and Exchange Commission (SEC) announcing a more progressive stance on cryptocurrency regulations, as detailed in its latest press release (Source: SEC, January 17, 2025, 12:00 UTC).

The business implications of this market event are multifaceted. The rapid increase in Bitcoin and Ethereum prices indicates strong buying pressure, likely driven by institutional investors entering the market, as evidenced by a 15% increase in institutional trading volume on Bitfinex (Source: Bitfinex, 17 January 2025, 14:45 UTC Coordinator). Bitcoin’s Relative Strength Index (RSI) has reached 72, indicating overbought conditions, which could lead to a short-term correction (Source: TradingView, 17 January 2025, 14:45 UTC). For Ethereum, the RSI was at 68, indicating the risk of a similar correction (Source: TradingView, 17 January 2025, 14:45 UTC). Increased trading volumes across multiple trading pairs, such as BTC/USDT and ETH/USDT, confirm increased market activity, with BTC/USDT volume reaching 1.5 million trades and ETH/USDT volume reaching 800,000 trades on Kraken (Source: Kraken, January 17 November 2025 , at 14:45 UTC). On-chain metrics also show a significant increase in active addresses for both Bitcoin and Ethereum, with active Bitcoin addresses rising from 800,000 to 950,000 and Ethereum addresses from 500,000 to 620,000 over the same period (Source: Glassnode, 17 January 2025, at 14:45). UTC). This indicates widespread market participation and the potential for continued upward momentum.

Technical indicators and volume data provide further insights into market dynamics. Bitcoin’s Moving Average Convergence Divergence (MACD) showed a bullish crossover at 14:30 UTC, with the MACD line moving above the signal line, indicating the potential for further upward movement (Source: TradingView, 17 January 2025, 14:00: 30 UTC). Ethereum’s MACD indicator also showed a bullish crossover at the same time, reinforcing the uptrend (Source: TradingView, 17 January 2025, 14:30 UTC). Bitcoin’s 50-day moving average crossed above its 200-day moving average, a “golden crossover” event, at 14:30 UTC, indicating a long-term uptrend (Source: TradingView, January 17, 2025, at 14:30 UTC). Ethereum’s 50-day moving average also crossed above its 200-day moving average at the same time, suggesting a similar long-term uptrend (Source: TradingView, 17 January 2025, 14:30 UTC). Bitcoin trading volume on Bitstamp rose 20% to 10,000 BTC, and for Ethereum, it rose 18% to 600,000 ETH, reflecting strong interest in the market (Source: Bitstamp, 17 January 2025, 14:30 UTC). In addition, the Bollinger Bands widened for both Bitcoin and Ethereum, indicating increased volatility and the potential for significant price movements (Source: TradingView, 17 January 2025, 14:30 UTC).