QCP Capital posted on its official channel that global markets are digesting the impact of the Fed's adjustment in its rate cut expectations. The 10-year Treasury yield soared to 4.8%, the highest since the end of 2023, and the market expects no rate cuts until October at the earliest. Stock index futures opened down 1.5%, causing Bitcoin to fall below $90,000 at one point, and then rebounded to above $95,000. QCP Capital expects that the upcoming PPI and CPI data may have upside risks. The market is adapting to the reality of a continued high interest rate environment, and some investors are even considering the possibility of rate hikes. The Bitcoin options market showed cautious sentiment, with investors rolling over put options below the $90,000 support level, near-month volatility and butterfly spreads remained high, and the VIX index remained at 18.68, indicating that market volatility may continue in January. The report pointed out that Trump may sign an executive order on his first day in office to address the "de-banking" issue and abolish controversial cryptocurrency accounting policies, which may bring positive catalysts to the market.

According to BlockBeats, data from Coinglass reveals that the cryptocurrency market witnessed liquidations totaling $21.32 million within the past hour. Of this amount, short positions accounted for $20.63 million.

According to Cointelegraph, former Thai Prime Minister Thaksin Shinawatra has expressed confidence in the safety of trading stablecoins and other tokens backed by tangible assets. He also urged the Thai government to consider legalizing online gambling as a potential revenue source. Shinawatra highlighted that the government could be missing out on nearly $4 billion in tax revenue from the online gambling sector. Speaking at an event on January 13, he encouraged Thai authorities to embrace the online gambling ecosystem, as reported by Reuters. This recommendation coincided with the Thai cabinet's approval of a draft law known as the Entertainment Complex Business Act, which aims to legalize casinos and gambling. The proposed legislation seeks to establish entertainment complexes and casinos while taxing the country's underground gambling industry. Although Shinawatra is not part of the current administration, his political legacy continues to influence Thai regulation. His daughter, Paetongtarn Shinawatra, currently serves as the country's prime minister. The current Prime Minister Shinawatra, when announcing the draft law's approval, referenced Singapore's successful implementation of similar measures, which positively impacted tourism and GDP. The Thai House of Representatives will need to pass the bill into law, though no deadline has been set. The former prime minister noted that the government is developing a plan to regulate and tax online gambling, estimating that taxing 20% of the sector could generate over 100 billion baht annually. He proposed a passport-type access system for monitoring online gambling activities. In addition to his recommendations on gambling, Shinawatra has advocated for the adoption of stablecoins and other non-volatile cryptocurrencies. He urged Thailand's Securities and Exchange Commission (SEC) to permit the trading of stablecoins backed by assets. He suggested that Phuket could serve as a pilot site for testing crypto payments, asserting that there is no risk involved as it represents just another global currency. Interest in digital payments is rising in Thailand. In July 2024, the government distributed a social-benefits payout to 45 million citizens in digital money, costing $13.8 billion. Additionally, the Bank of Thailand completed a pilot retail central bank digital currency (CBDC) project in April 2024. The central bank's report concluded that there are no immediate plans to officially issue a Retail CBDC, but it will continue to explore insights gained from the project to enhance the payment system.

The global cryptocurrency market cap now stands at $3.22T, down by -2.24% over the last day, according to CoinMarketCap data. Bitcoin (BTC) has been trading between $89,257 and $96,475 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $96,422, up by 3.89%. Most major cryptocurrencies by market cap are trading higher. Market outperformers include AIXBT, CGPT, and LQTY, up by 40%, 24%, and 20%, respectively. Top stories of the day: UK Unveils AI Opportunities Action Plan to Boost Economy and Public Services XRP and SOL ETPs Could Attract $15 Billion in Net Inflows, Says JPMorgan Market movers: ETH: $3235.25 (+2.55%) XRP: $2.5765 (+6.57%) BNB: $695.02 (+3.39%) SOL: $188.64 (+4.91%) DOGE: $0.3489 (+8.12%) ADA: $0.98 (+6.63%) TRX: $0.2253 (+0.99%) AVAX: $36.02 (+5.01%) SUI: $4.7086 (+6.63%) TON: $5.282 (+3.55%) Top gainers on Binance: AIXBT/USDT (+40%) CGPT/USDT (+24%) LQTY/USDT (+20%)

Coinglass data shows that in the past 12 hours, the entire network has liquidated $78.7961 million, of which long orders have liquidated $14.2838 million and short orders have liquidated $64.5122 million.

On Jan 14, 2025, 09:25 AM(UTC). According to Binance Market Data, Bitcoin has crossed the 96,000 USDT benchmark and is now trading at 96,157.992188 USDT, with a narrowed 3.59% increase in 24 hours.

Bitcoin dropped to $89,900 on January 13, its lowest decline in two months James Toledano, COO at Unity Wallet, said one of the reasons for the drop is profit-taking after Bitcoin hit $108,000 in mid-December The inauguration of President-elect Donald Trump could spark renewed buying interest, Toledano said Bitcoin fell below $90,000 for the first […] The post Bitcoin price drop caused by... source: https://coinjournal.net/news/bitcoin-price-drop-caused-by-profit-taking-and-macroeconomic-conditions/

OKX market shows that BTC has broken through 96,000 USDT and is now at 96,000.7 USDT, with a 24-hour increase of 3.45%. (This newsletter is generated by AI)

Former Thai PM Thaksin Shinawatra urges stablecoin adoption and online gambling legalization to boost Thailand’s revenue and innovation. source: https://cointelegraph.com/news/thailand-crypto-stablecoin-legalization-gambling-taxation?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

According to Odaily, Jessie Dai, co-founder of the decentralized cloud data storage network CESS Network, stated on Platform X that DePIN can create a more secure and autonomous digital ecosystem by reducing reliance on vulnerable centralized systems.

A Taiwanese man, only identified as Chen, became the first casualty of the newly enforced anti-money laundering regulations in Taiwan. The new anti-money laundering (AML) regulations, which came into effect on November 30, 2024, required virtual asset service providers (VASPs) to complete AML compliance registration to offer virtual asset services in Taiwan.

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A Washington state pastor has been indicted on 26 counts of fraud by a federal grand jury for allegedly defrauding over 1,500 investors through a fraudulent crypto scheme he called Solano Fi.

Bitcoin’s mining difficulty has hit an all-time high of 110.45 trillion, making it harder to mine new blocks. Meanwhile, mining revenue has dropped nearly 20%, signaling economic pressure on miners.

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