Bitcoin Predictions for 2025 and Global Crypto Highlights: Weekly Recap

Bitcoin Predictions for 2025 and Global Crypto Highlights: Weekly Recap

The crypto market gears up for 2025 as Bitcoin investors look to the "January effect," a trend that historically sparks financial asset rallies at the start of the year. Here’s a roundup of the week’s top cryptocurrency stories.


Bitcoin Retreats as Year-End Rally Fails to Materialize

Bitcoin’s price fell to $94,830, marking a 12% drop from its December high, dashing hopes for a "Santa Claus rally." Trading volumes also plummeted, with CoinGecko reporting a decline from $41 billion on Dec. 28 to $22 billion on Dec. 29.


Historical data shows Bitcoin’s January performance has been inconsistent, with gains in only six of the past ten years. In contrast, February has traditionally been more bullish, recording losses just twice during the same period.


Terraform Labs Founder Do Kwon to Be Extradited to the U.S.

Montenegrin authorities have signed an extradition order for Terraform Labs founder Do Kwon, sending him to the United States instead of South Korea, according to local reports.


In related legal updates, former FTX executive Ryan Salame saw his prison sentence reduced by over a year. Initially sentenced to 7.5 years in October for his role in the exchange’s collapse, Salame’s release is now scheduled for March 2031.


Cambodia Welcomes Stablecoins, Japan Stays Wary of Bitcoin

Cambodia’s central bank has approved stablecoin services like USDC and USDT through licensed banks and payment firms, while keeping restrictions on unbacked cryptocurrencies in place.


Meanwhile, Japan's government announced it has no plans to include Bitcoin in its foreign exchange reserves, citing volatility and limited adoption as key concerns.


MicroStrategy Extends Bitcoin Buying Streak

MicroStrategy, led by Michael Saylor, continued its aggressive Bitcoin accumulation, adding $561 million worth of BTC. The company, the largest corporate holder of Bitcoin, has emerged as the best-performing cryptocurrency stock of 2024, with its shares soaring 402% this year.


Legal Disputes, NFT Declines, and Solana Drama

  • Solana Labs Co-Founder Faces Legal Action: Stephen Akridge, co-founder of Solana Labs, is being sued by his ex-wife over allegations of withholding staking rewards worth millions.


  • BONK Token Burn Celebrations: The BONK community destroyed 1.69 trillion tokens valued at over $51 million, representing 1.8% of its total supply.


  • NFT Sales Plummet: Weekly NFT trading volumes dropped by 50%, reflecting declining interest in digital collectibles.



Russian Mining Ban Looms

Russia will implement a temporary ban on cryptocurrency mining from Jan. 1, 2025, to March 15, 2031, citing energy shortages and concerns over subsidized electricity rates in some regions.


Binance Leads $10 Million Investment in Stablecoin Issuer

Binance Labs and Kraken Ventures spearheaded a $10 million Series A funding round for Usual, a decentralized stablecoin issuer focused on fiat-backed real-world assets.



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