Crypto Today: Bitcoin bulls break back above critical $8500 barrier

Here's what you need to know on Monday


BTC/USD is currently trading at $8,400 (+3.40%) in the afternoon in U.S. hours, bulls manage to break back above $8500 barrier.

ETH/USD is currently trading at $171.58 (+3.30%), reclaims the $170 mark, after a period of cooling. 

XRP/USD is currently trading at $0.2335 (+3.50%), bulls must break down $0.2500 for greater upside. 

Among the 100 most important cryptocurrencies, the best of the day are ETC $10.68 (+20.95%), QNT $3.87 (+20.49%) and BSV $316.03 (+16.27%) and The day's losers are KMD $0.006086 (-4.50%), SEELE $0.111343 (-2.15%) and ABBC $0.100183 (-1.30%).

Chart of the day: BTC/USD 4-hour chart (price action smashes out of descending wedge or bull flag structure)


Two former employees of the TRON (TRX) blockchain project have dragged the TRON Foundation as well as CEO Justin Sun to court, alleging that they were treated in an unfriendly manner by Sun and illegally fired from the firm for objecting to the project’s unlawful management practices, according to reports. 

Ripple and Coinbase officials are joining forces by forming Market Integrity Working Group. By creating this new group, the focus shifts to introducing fairness, equality, and accountability. 

Prominent people at the forefront of this initiative are executives of both Ripple and Coinbase. One of the first orders of business seemingly revolves around addressing the lack of cryptocurrency regulations in the United States.

Researchers at Deutsche Bank say cash will not become obsolete in the near future even with the growing pivot towards cryptos and other forms of digital currencies. The report notes: Cash is unlikely to disappear anytime soon. However, a real digital payment revolution has been underway for the past ten years. Cash is losing ground as a payment method. Several countries have recently removed large notes worth $100 or more and implemented policies to replace traditional payment methods with digital solutions.


A new report from the Bank for International Settlements (BIS) published on January 23rd is pointing out a positive outlook on the issuance of digital currencies in developing economies.The new report is based on a follow-up survey on the issuance of a central bank digital currency (CBDC). BIS talked to 66 banks in the 2019 study to discuss the possibility of a central bank-backed currency in their economies. Last time, 56 central banks participated in the survey. It suggests that central banks are interested in digital currencies and are experimenting with new innovations in this field.

The Israel Securities Authority (ISA) intends to draft regulation for distributed ledger technology-backed (DLT) digital asset exchange platforms, according to ISA Chair Anat Guetta.

Cryptocurrency transactions in Ukraine will be strictly monitored by the state, although the country’s finance minister admits that it’s not digital coins but fiat cash that criminals and corrupt officials are more likely to use. The legalization of cryptocurrencies remains a priority in Kiev as the government has indicated its clear understanding that the benefits outweigh the risks.


The government of Iran has issued licenses to more than 1,000 cryptocurrency mining farms since it started to regulate the industry last year.

Quote of the day

“You look at Bitcoin and you say 'Hey, this is great because it's not my father's Oldsmobile. Our banking system is the Oldsmobile, is the old Oldsmobile.

Tim Draper 




Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Crypto Today: Bitcoin, Ethereum and Ripple meet the ultimate resistance

BTC/USD pair is exchanging hands at $9,765 after a bearish Asian session on Monday. There was a struggle over the weekend to break that barrier at $10,000.

More Cryptocurrencies News

Ripple Price Analysis: XRP/USD spirals as $0.27 beckons

The cryptocurrency market is in shambles on Monday towards the end of the Asian session. Unlike the weekend session which was characterized by the struggle to break key barriers across ...

More Ripple News

Ethereum Price Analysis: XRP/USD dumps $7 from $275 weekly close

Ethereum had impressed many analysts and crypto enthusiasts with its weekly close above $275. Many had started seeing the grand gesture as the beginning of the journey to $300. However, sellers had a hidden ...

More Ethereum News

Litecoin Technical Analysis: LTC/USD ignores golden cross as rejection $80 continues

Litecoin price digs deeper into the Bollinger Band lower curve amid high volatility and a stronger bearish grip. If the short term trendline support gives in, there is a chance the price would slide back to the support at $65.

More Litecoin News


Bitcoin Weekly Forecast: BTC bulls plot the revenge

Bitcoin's market capitalization settled at $176 billion, which is 62.8% of the total digital assets market.

Read the weekly forecast