Bitcoin today 16/01/2025: BTC aims for return to $100K and XRP soars 16%

The price of Bitcoin Today 16/01/2025 is eyeing a return to the $100K mark as it continues a significant uptrend amid a significant rise in the broader market. Cryptocurrencies in general are trading at notable gains, with XRP in particular having surged over 16% today alone.

Yesterday, Bitcoin managed to surpass the $100 zone again, however, it did not sustain its bullish movement and retreated to the current zone. At the time of publication, the price of Bitcoin was quoted at $99.033,39 with an increase of 2.4% in the last 24 hours, equivalent to approximately R$598,063.12 BRL and €93,848.38 EUR.

The cryptocurrency market was boosted by two news items related to the US market, Donald Trump's announcement of more friendly rules from the Securities and Exchange Commission and the optimistic data in the US inflation reports, as per highlighted analysts at the Santiment platform, on January 15.

“Two bullish US-themed news items hit crypto today, sending Bitcoin up to $99,7K and altcoins soaring: Donald Trump announced that his incoming presidency is planning friendlier SEC rules, clearer token guidelines and less legal tender. US inflation reports show falling inflation and more optimism about further Fed rate cuts, which would immediately boost crypto growth. While last month’s hawkish FOMC meeting contributed to a crypto top, traders are hoping it will slightly change their decisions on slowing rate cuts in 2025,” he wrote.

As the market recovers, one of the main beneficiaries is XRP, which is seeing considerable gains amid optimism over the token’s potential appreciation. At press time, XRP’s price was trading at $3,18, up 16.3% in the past 24 hours. In seven days, XRP has gained 38% amid its bullish rally. Yesterday, the asset once again hit the $3 mark for the first time since 2018, sparking a wave of optimism in the cryptocurrency market.

In the same vein, following Bitcoin’s recent move, most major cryptocurrencies are seeing significant recoveries and significant declines in their prices over the past 24 hours. Ethereum is trading at $3.351,76, up 4.8%. Cardano is trading at $1,06 after recording a 6.1% increase. Solana is up 12.7% and is trading at $210,42.