Another week ends with substantial advancements witnessed across the crypto realm. Among these developments, Bitcoin\u2019s movement over the past week, the Fed\u2019s decision on unchanged rate cuts, and the Jupiter Exchange\u2019s native token JUP appear to have birthed a hurricane of frenzy among crypto market fanatics across the globe.<\/p>\n
Some of the top headlines that grabbed the spotlight this week are:<\/p>\n
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Bitcoin Trades Near $43K<\/h2>\n
Bitcoin, the world\u2019s first-ever digital currency, traded with quite the volatility over the past week, nabbing significant attention globally. Following the recent inception of spot Bitcoin ETFs within the crypto realm, the BTC price appears to have borne the brunt of market volatility, as the net flows of all the 11 ETFs impacted the token\u2019s market dynamics promptly.<\/p>\n
Meanwhile, Markus Thielen<\/a>, chief executive officer at 10x Research, backtracked on his Bitcoin\u2019s prediction to $38K, claiming the token can potentially showcase a run to $50K. Whereas, the Fed\u2019s decision<\/a> to keep interest rates unchanged for the fourth straight meeting appears to have pushed the sentiment of maintaining the status quo, potentially keeping investments steady in digital assets across the U.S.<\/p>\n In addition, Bitcoin outflows<\/a> totaled nearly $500 million this week amid Grayscales abating outflows.<\/p>\n <\/p>\n Also Read: FTX Eyes Fast Sale of Its $1.4 Billion Anthropic Stake<\/a><\/strong><\/p>\n <\/p>\n In another significant gust of developments, the Federal Reserve\u2019s<\/a> stance on unchanged interest rates for the 4th straight meeting appears to have curated a tidal wave of speculations. Notably, the Fed decided to keep the interest rates unchanged at 5.25%-5.50%, as a result of the nation\u2019s current inflation rate which is still above the central bank\u2019s target of 2%. While, its impact on the crypto market remains the same, maintaining the current status quo of investments pouring into digital assets.<\/p>\n Also Read: Bitcoin ATM Scam Warning Issued by Kenosha Police to Residents<\/a><\/strong><\/p>\n On the other hand, Jupiter Exchange\u2019s native token JUP piqued traders\u2019 and investors\u2019 interest globally following its unpredictable upheavals within the broader crypto market. The Solana-based DeFi exchange announced plans to facilitate further airdrops<\/a> this week, garnering noteworthy attention across the market. Moreover, the DEX appears to have surpassed Uniswap V3 in 24-hour trading volume, as per data by CoinGecko.<\/p>\n <\/p>\n While, Jupiter Exchange\u2019s founder<\/a>, going by the pseudo-name Meow, spotlighted a fair token strategy this week, stressing concerns during JUP\u2019s recent market fluctuations and strategic listings.<\/p>\n Simultaneously, Binance<\/a>, the world\u2019s leading cryptocurrency exchange, unveiled plans to list the JUP token, bolstering the crypto as its trading volume hit $630 Mln. Aligning with this, the token was listed with the trading pairs JUP\/USDT, JUP\/FDUSD, and JUP\/TRY as of January 31 at 15:30 UTC.<\/p>\nFederal Reserve Decides Unchanged Interest Rates<\/h2>\n
Jupiter Exchange Ignites Inferences<\/h2>\n
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