Official Account: Creamy Girl
On the morning of January 17, Bitcoin surged past $101,000, rising over 2% at one point. In the last 24 hours, over 100,000 people faced liquidation.
$BTC: I estimate it will fluctuate between $97,000 and $102,000, depending on whether it can surge to $102,000 at once. If it can’t break through, it may need to adjust again. Those who bought near $90,000 might consider securing some profits now.
$BNB: This token is likely to hover between $690 and $730. When BTC gains momentum, platform tokens seem to lag a bit. The megadrop event on the 17th is coming to an end, so minor fluctuations are inevitable, but if you plan to hold long-term, these waves are manageable. We just hope to catch the next airdrop for another opportunity!
$ETH: It’s expected to oscillate between $3,200 and $3,500. This rebound hasn’t been much stronger than BTC. Whether institutions will increase their positions remains to be seen. However, I still think swapping for some BTC is more reliable!
Now, let’s discuss today’s daily BTC technical analysis. From the candlestick chart, the 1-hour level shows an uptrend, the 4-hour level is also up, the 12-hour level indicates an uptrend, and the daily level reflects an uptrend as well. The intraday resistance is at $104,600, and the support is at $98,200.
According to reports, on Wednesday local time, Oklahoma proposed a bill to establish a strategic Bitcoin reserve, joining a growing number of states looking to leverage the return potential of this cryptocurrency.
The proposed legislation, known as House Bill 1203 or the Strategic Bitcoin Reserve Act, was introduced in the Oklahoma House of Representatives by state representative Cody Maynard.
The bill would allow Oklahoma’s pension funds and state savings accounts to allocate a portion of their assets to Bitcoin in order to “hedge against inflation.”
The bill permits investments in any digital asset that had an average market capitalization of $500 billion in the previous calendar year. Currently, only Bitcoin, with a market cap of $1.97 trillion, meets this requirement.
Nasdaq today submitted Form 19b-4 to begin trading the Litecoin ETF from Canary Capital. Just a few hours ago, Canary modified its S-1 form, indicating that the SEC’s feedback has been productive.
Multiple analysts have stated that the U.S. Securities and Exchange Commission is likely to approve this fund soon, making it the first altcoin ETF of 2025.
Canary Capital’s Litecoin ETF
The path for the Litecoin ETF seems to be nearing its conclusion. Earlier today, Canary Capital submitted a revision to its S-1 registration form to the SEC, indicating potential approval and triggering bullish whale activity.
ETF analyst Nate Geraci later noted that Nasdaq also submitted a Form 19b-4 requesting the SEC to allow trading of Canary’s Litecoin ETF.
If Canary Capital’s Litecoin ETF receives SEC approval, it could significantly impact the price of this asset. Recently, Litecoin has faced considerable bearish pressure, including the lowest number of daily active addresses since 2023.
