{"id":45860,"date":"2025-01-22T20:57:18","date_gmt":"2025-01-22T20:57:18","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-holds-steady-above-100k-as-ai16z-and-virtual-surge-back\/"},"modified":"2025-01-22T20:57:18","modified_gmt":"2025-01-22T20:57:18","slug":"bitcoin-holds-steady-above-100k-as-ai16z-and-virtual-surge-back","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-holds-steady-above-100k-as-ai16z-and-virtual-surge-back\/","title":{"rendered":"Bitcoin holds steady above $100k as AI16Z and VIRTUAL surge back"},"content":{"rendered":"

(Originally posted on : Invezz )<\/b>
\n<\/p>\n

<\/div>\n

Bitcoin momentarily dipped below $100k on Monday as President Trump kept crypto policy on the sidelines during his first day in office but recovered back and stabilised around $104,000 throughout the past 24  hours.<\/p>\n

The overall cryptocurrency market capitalisation was down -0.75% in the last 24 hours at $3.76 Trillion but was quickly moving towards this week’s high of over $3.8 trillion when writing.<\/p>\n

A risk-on sentiment returned among traders, reflected in the Crypto Fear and Greed Index rising by 8 points to 84, indicating extreme greed in the market.<\/p>\n

Why is Bitcoin going up?<\/h2>\n

Since Trump seized victory, the crypto sector has been anticipating favourable regulations in the US market. <\/p>\n

The momentum received a significant boost after Acting SEC Chairman Mark Udeya, temporarily replacing Gary Gensler until a permanent appointment is made, announced the establishment of a dedicated crypto task force on January 21.<\/p>\n

The initiative spearheaded by pro-crypto commissioner Hester Peirce will collaborate with industry stakeholders and create a comprehensive framework for the digital assets market, moving away from the previous commission\u2019s regulation by enforcement approach.<\/p>\n

This came in as a major win for the industry, and the market reacted in kind, solidifying Bitcoin\u2019s footing above the $103,000 support level that the flagship crypto had retested several times over the past few days.<\/p>\n

Currently, analysts are of the opinion that the gains are expected to continue in the coming days as regulatory tensions are easing. A few key indicators also back this theory.<\/p>\n

Firstly, whales played a major role in Bitcoin\u2019s latest recovery. <\/p>\n

Large investors continued buying through the dip, which is a positive sign signalling that they are confident the price could rise further.<\/p>\n

According to analyst Ali Martinez, whales scooped up over 22,000 Bitcoin in the past 72 hours. <\/p>\n

This accumulation could also trigger retail buying pressure, as smaller traders often follow the lead of large investors during bullish trends<\/p>\n

Secondly, the total number of daily active addresses has increased over the past few days. <\/p>\n

According to Martinez, this “signals a positive outlook for potential price appreciation,” as the rise in this metric aligns with the ongoing accumulation of whales.<\/p>\n

With the current momentum in play, if BTC manages to push beyond $106,000, well-followed trader Rekt Capital sees a run up to a new all-time high in the coming days. <\/p>\n

On the other hand, analyst Daan Crypto Traders says Bitcoin needs a daily close above $108,00 to enter price discovery.<\/p>\n

However, when writing, pseudonymous analyst Blackmore pointed out that a diamond top pattern had formed on the 4-hour BTC chart and could lead to a pullback if the price breaks below the $103k-$104k support range. <\/p>\n

In such a scenario the analyst expects a drop towards the $94-96k region.<\/p>\n

Fellow analyst Val Me, however, notes the diamond pattern is not always a reversal pattern and could also mean a looming period of consolidation ahead.<\/p>\n

At press time, Bitcoin was trading above $104,000, down 1.2% in the past 24 hours.<\/p>\n

AI tokens post strong gains<\/h2>\n

A number of the top altcoins posted double digital gains in response to Bitcoin\u2019s mid-week recovery. <\/p>\n

A lot of early week momentum came after Trump-family-backed meme coins Official Trump (TRUMP) and Melania Meme (MELANIA) surfaced over the past weekend, rekindling interest in the altcoin market.<\/p>\n

The altcoin season index rose two points over the past 24 hours to hit 45.<\/p>\n

However, retail interest was mostly geared towards altcoins related to artificial intelligence projects after President Trump announced the $500 billion Stargate AI infrastructure project on January 21. <\/p>\n

This initiative, a collaboration between OpenAI, SoftBank, and Oracle, aims to establish extensive AI data centres in the US, starting with a $100 billion investment in Texas.<\/p>\n

The announcement of Stargate has spurred increased interest in AI-focused altcoins as investors anticipate substantial growth in the AI sector.  <\/p>\n

Today\u2019s top gainers all came from the AI coin category. They are as follows:<\/p>\n

ai16z<\/h2>\n

With recorded gains of 25.8% over the previous day, ai16z (AI16Z) was the leading gainer among the largest 100 cryptocurrencies by market cap. <\/p>\n

The altcoin managed to rebound from the losses seen on Jan. 20 as it rose to an intraday high of $1.25 while its market cap surged over $475 million.<\/p>\n

\"ai16z\/USDT<\/figure>\n

Source: CoinMarketCap<\/a><\/p>\n

Investors gained interest in the AI agentic project\u2019s native coin as it got listed on the crypto exchange Kraken Pro, which added the altcoin to its perpetual futures market. <\/p>\n

The project has also partnered with decentralised infrastructure provider Hyperbolic to leverage its computational resources in a bid to enhance the capabilities of the AI agents running on its open-source operating system, ElizaOS.<\/p>\n

Virtuals Protocol<\/h2>\n

Virtuals Protocol (VIRTUAL), another AI agent builder made it to this list as it witnessed a 22% rise over the past day. <\/p>\n

With a market cap of over $3 billion, the altcoin currently stands as the second-largest AI agent coin in the crypto market.<\/p>\n

\"VIRTUAL\/USDT<\/figure>\n

Source: CoinMarketCap<\/a><\/p>\n

Today\u2019s gains followed the announcement of a buyback and burn event using tax revenue collected from various projects within the ecosystem. <\/p>\n

Over the next 30 days, the project will buy back a total of $35 million worth of tokens from the projects where they were collected and burn them, reducing supply and driving scarcity across the ecosystem.<\/p>\n

The altcoin also surged alongside a market-wide rally among AI-focused projects following President Donald Trump’s announcement of “Stargate,” a new initiative committing $500 billion over the next four years to develop AI infrastructure in the United States.<\/p>\n

Worldcoin<\/h2>\n

Worlcoin (WLD) rose 20% over the last 24 hours as the biometric crypto project saw its market cap soar to over $2.12 billion. <\/p>\n

The altcoin exchanged hands at $2.27 per coin while its trading volume jumped over 147%, hovering around $1 billion when writing,<\/p>\n

\"WLD\/USDT<\/figure>\n

Source: CoinMarketCap<\/a><\/p>\n

The project, co-founded by OpenAI\u2019s Sam Altman in 2019, rallied after news of the Stargate initiative broke, which is reportedly backed by OpenAI among other major players. <\/p>\n

The venture capital-backed proof-of-humanity project has previously experienced rallies on news linked to OpenAI.<\/p>\n

The post Bitcoin holds steady above $100k as AI16Z and VIRTUAL surge back<\/a> appeared first on Invezz<\/a><\/p>\n

Source link <\/a>
\n
<\/p>\n","protected":false},"excerpt":{"rendered":"

(Originally posted on : Invezz ) Bitcoin momentarily dipped below $100k on Monday as President Trump kept crypto policy on the sidelines during his first day in office but recovered back and stabilised around $104,000 throughout the past 24  hours. The overall cryptocurrency market capitalisation was down -0.75% in the last 24 hours at $3.76 […]<\/p>\n","protected":false},"author":3947362366,"featured_media":45861,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[37],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/45860"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362366"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=45860"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/45860\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/45861"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=45860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=45860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=45860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}