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Leading coins rose marginally on a day of cryptocurrency-friendly policies announced by the Donald Trump administration.



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:15 p.m. ET)</td></tr><tr><td>Bitcoin BTC/USD</td><td>+0.41%</td><td>$103,569.49</td></tr><tr><td>Ethereum ETH/USD &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+1.62%</td><td>$3,299.95</td></tr><tr><td>Dogecoin DOGE/USD&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-3.09%</td><td>$0.3484</td></tr></tbody></table></figure>



What Happened: Bitcoin recorded choppy momentum over the last 24 hours, surging to a high of $106,500 in the morning before falling to $103,000 by the evening.



The morning rally was triggered by speculations of an executive order to create a strategic Bitcoin reserve. Eventually, Trump signed an order that will  <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43177482/trump-signs-executive-order-on-crypto-bitcoin-reserve-to-be-evaluated">evaluate the creation</a> of a "strategic national digital asset stockpile."



Additionally, a SEC directive that restricted banks' ability to custody cryptocurrencies<a href="https://www.benzinga.com/25/01/43181875/another-crypto-friendly-measure-by-trump-sec-revokes-sab-121-policy-that-curtailed-banks-ability-to-custody-digital-assets"> was repealed</a>.



Ethereum surged more than Bitcoin, probably due to expectations of inclusion in the potential digital asset stockpile.



More than $382 million was liquidated from the cryptocurrency market in the last 24 hours, with long liquidations accounting for $262 million. However, Bitcoin's rebound to $107,000 could liquidate nearly $368 million worth of short positions.



More than 50% of trader accounts on Binance placed long positions on Bitcoin, suggesting expectations of a rebound.



The market sentiment remained one of "Greed," according to the Crypto Fear &amp; Greed Index.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:15 p.m. ET)</td></tr><tr><td>Mantle (MNT)</td><td>+10.53%</td><td>$1.22</td></tr><tr><td>KuCoin Token (KCS)</td><td>+7.71%</td><td>$12.09</td></tr><tr><td>Ethereum Classic (ETC)</td><td>+5.94%</td><td>$28.56</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.56 trillion, contracting marginally by 0.17% in the last 24 hours.



Stocks extended their winning streak on Thursday. The S&amp;P 500 rallied 0.53% to close at a new record high of 6,118.71. The Dow Jones Industrial Average lifted 408.34 points, or 0.92%, to end at 44,565.07. The tech-focused Nasdaq Composite gained 0.22%, closing at 20,053.68.



The bump comes after President Donald Trump advocated immediate cuts in <a href="https://www.benzinga.com/news/global/25/01/43170854/trump-outlines-economic-reset-at-davos-5-things-you-need-to-know">interest rates</a> during a virtual address at the World Economic Forum 2025.



The market also possibly factored Trump's remarks that corporate taxes will be cut from 21% to 15% for companies that manufacture in the U.S.



See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>



Analyst Notes: Popular on-chain analytics firm Santiment highlighted the new all-time high for wallets holding between 100 and 1,000 BTC—one of Bitcoin's leading indicators.



"This rise in key stakeholder confidence is yet another promising sign for a bullish 2025," the firm added.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f433; Among Bitcoin&#39;s top leading indicators are the amount of wallets holding between 10 to 100 or 100 to 1,000 BTC. The latter group just broke an all-time high, with 15,777 such wallets. This rise in key stakeholder confidence is yet another promising sign for a bullish 2025. &#x1f680; <a href="https://t.co/4ZPiowoSDf">pic.twitter.com/4ZPiowoSDf</a>&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1882476757158367261?ref_src=twsrc%5Etfw">January 23, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Popular cryptocurrency trader Michaël van de Poppe set a price target of $500,000 per Bitcoin and $20,000 per Ethereum, owing to the latest cryptocurrency-friendly executive orders by President Trump.



"The cycle has begun," he remarked.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">$500K per <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> $20K per <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> The cycle has begun. <a href="https://t.co/OQk7Ek1qfR">https://t.co/OQk7Ek1qfR</a>&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1882527402800415090?ref_src=twsrc%5Etfw">January 23, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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Photo by SvetlanaParnikova on Shutterstock



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Leading coins rose marginally on a day of cryptocurrency-friendly policies announced by the Donald Trump administration.

Bitcoin, Ethereum Rise, Dogecoin Dips Amid Pro-Crypo Announcements From Trump: Top Trader Sets Sight On $500,000 BTC Target, $20,000 For ETH - Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA:BTC)

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Leading coins rose marginally on a day of cryptocurrency-friendly policies announced by the Donald Trump administration.

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Bitcoin, Ethereum Rise, Dogecoin Dips Amid Pro-Crypo Announcements From Trump: Top Trader Sets Sight On $500,000 BTC Target, $20,000 For ETH

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