Bitcoin News: Cryptocurrency Growth Surpasses Mobile Phones and Internet, Says BlackRock

BlackRock, a $10 trillion asset manager, highlights the unprecedented growth of the cryptocurrency industry, which has outpaced the adoption rates of mobile phones and the internet. This rapid expansion underscores the transformative potential of cryptocurrencies in the global financial system.

Crypto Growth Outpaces Mobile Phones and Internet, Says BlackRock

BlackRock, a $10 trillion asset manager, reports that the cryptocurrency industry has surpassed the growth rates of mobile phones and the internet. The industry has reached 300 million users in just 12 years, a milestone that took mobile phones 21 years and the internet 15 years to achieve. This rapid adoption highlights the significant impact and potential of cryptocurrencies in the global financial landscape.

Bitcoin’s January Blues – Is it a Post-Halving tradition now?

Bitcoin has historically experienced a bearish trend in January following its halving events. This pattern suggests that despite the struggles over the past two months, with the psychological $100k-level proving tough to maintain, there is potential for a significant price increase. Historical data indicates that if previous patterns hold, Bitcoin could be trading near $130k by March. Additionally, the flow of Bitcoin into and out of centralized exchanges provides insights into market participants' behavior, highlighting the importance of monitoring these trends for future price movements.

Major Warning Sign? Bitcoin Estimated Leverage Ratio Spikes On 4 Exchanges

On January 12, Maartunn, a community on-chain analyst at CryptoQuant, issued a significant cautionary note regarding Bitcoin. He highlighted that the Estimated Leverage Ratio (ELR) has spiked on four major exchanges: Gate.io, Bybit, HTX Global, and Deribit. The ELR is a measure of open interest in Bitcoin futures divided by exchange reserves. According to Maartunn, this spike may indicate an overheated futures market or unusually low exchange reserves. Gate.io, in particular, showed an alarming rise in ELR, with open interest surging from approximately $1.5 billion to $6.4 billion. This development suggests that Bitcoin investors should be cautious as it may signal increased market volatility or potential risks in the futures market.

Bitcoin Price Forecast: Buy or Sell Now?

The sentiment in the cryptocurrency market has been better. The New Year's rally did not meet most investors' expectations. Despite widespread optimism about the cryptocurrency market's future under Donald Trump, the market is experiencing a downturn as Trump's inauguration approaches. The Bitcoin price has been moving sideways for months, with the lower end of the range at $90,000 and the upper end typically around $102,000, except for a brief spike to an all-time high of $108,000. The current trend suggests uncertainty about the continuation of the bull run into 2025.

Bitcoin Transaction Drop Signals Lower Whale Activity

In a notable development, the number of large transactions on the Bitcoin ($BTC) network has dropped by over 50% in the last month, indicating a potential reduction in whale activity. This decline, from 33,450 large transactions to just 16,180, suggests a shift in market dynamics that could have broader implications for the cryptocurrency ecosystem. According to Crypto Analyst Ali Martinez, recent data from the Bitcoin network highlights this significant decrease in large transactions. As of January 2025, the number of such transactions has fallen by 51.64% compared to the previous month.