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Today's Top Crypto Headlines:
Yuga Labs IP Backlash | Trump US Crypto Reserve | Bitcoin to $150K and more...
King Fatrick Gil Añasco
January 17, 2025
Good Morning Crypto Enthusiasts!
Glad to have you back for another edition of the UseTheBitcoin.com newsletter.
Yuga Labs Faces CryptoPunks Backlash: Rumors of Yuga Labs selling CryptoPunks’ IP sparked backlash.
📈Technical Analysis Masterclass - ADA Cardano is gaining traction on the weekly chart. Watch UseTheBitcoin’s latest Youtube video “ADA Cardano Is Breaking Out! (ADA)” to see a concise breakdown or join our Official Telegram Channel for more alpha!
Trump Eyes US Crypto Reserve: Trump reportedly considers a reserve featuring Solana, XRP, and USD Coin, excluding Bitcoin.
💡Feature of the Day - Bitcoin Price Could Exceed $150K: Alex Becker calls $150K Bitcoin target "silly low," predicting $250K–$400K with institutional adoption.
All this and more in today’s headlines!
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📰 News Highlights:
The CryptoPunks community is in turmoil over rumors that Yuga Labs may sell the intellectual property (IP) rights of the NFT collection.
I'm now confident enough to share it with y'all after hearing it from several sources close to the matter:
Yuga Labs might be in the process of selling the CryptoPunks IP.
They bought the IP + more than 400 CryptoPunk NFTs from Larva Labs back in March 2022.
Who is the buyer?… x.com/i/web/status/1…
— wale.moca 🐳 (@waleswoosh)
5:50 PM • Jan 14, 2025
The rumors, shared by Azuki researcher Wale.moca, suggest that Yuga Labs is considering a sale, sparking backlash among fans.
a lot of people have approached us, esp last few months
doesn’t mean we are doing anything
would only ever do a deal if it we felt very confident it would be long term extremely +EV for punks
my biz and life are nfts
not going to take a deal for money if I feel like it hurts… x.com/i/web/status/1…
— Garga.eth (Greg Solano) (@CryptoGarga)
3:07 AM • Jan 15, 2025
Co-founder Greg Solano addressed the rumors, stating that while discussions occurred, no decision has been made. Community reactions have been mixed.
The Cryptopunks IP was sold once because the owner wasn’t doing anything, to a new owner who promised not to do anything, and is now being sold again because the owner who promised not to do anything did stuff, so it’s being bought by someone else who promises not to do anything.
— smoot (@adamsmoot)
6:21 PM • Jan 14, 2025
Since YugaLabs acquired it
CryptoPunks IP seems to have lost direction
Relying only on its status as a grail NFT
Do you think a new owner could change its course?
(8/8)
— StarPlatinum (@StarPlatinumSOL)
12:30 PM • Jan 15, 2025
Some collectors feel Yuga Labs mishandled the IP, while others believe a sale could restore CryptoPunks' status as a cultural artifact.
Avichal Garg proposed transferring the IP to a DAO funded by a token sale to benefit NFT holders.
📈Technical Analysis Masterclass:
Volume Surge
Significance: High volume confirms strong market participation and legitimizes price movements.
Implication: Rising volume indicates growing interest, likely due to improving sentiment, fundamental updates, or broader crypto trends.
200-Week Moving Average Breakout
Milestone: ADA has successfully broken above the critical 200-week moving average, which previously acted as strong resistance.
Bullish Signal: Establishing support above this level suggests buyers are defending higher price points, signaling momentum shift.
Bullish Momentum: Moving Averages Alignment
Potential Alignment: ADA is setting up for a bullish "alignment of the stars" pattern, where shorter moving averages stack in ascending order above the 200-week average.
Impact: If achieved, this could lead to significant price surges, further reinforcing bullish sentiment.
Long-Term Outlook
Cup Pattern Formation
Scenario: ADA may be forming a cup pattern, a classic bullish structure.
Target: If the pattern plays out, ADA could revisit all-time highs between $2.40 and $3.00.
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President-elect Donald Trump is reportedly considering a strategic reserve including US-based cryptocurrencies like Solana, XRP, and USD Coin.
The New York Post cited sources claiming Trump is receptive to the idea, though it might exclude Bitcoin.
Great dinner last night with @realDonaldTrump & @s_alderoty.
Strong start to 2025!
— Brad Garlinghouse (@bgarlinghouse)
12:10 AM • Jan 8, 2025
The rumors intensified after Trump dined with Ripple executives, sparking speculation about regulatory shifts favoring altcoins.
Fake news. You might as well call Ripple Kamala coin.
— David Bailey🇵🇷 $0.85mm/btc is the floor (@DavidFBailey)
11:22 AM • Jan 16, 2025
The crypto community is divided.
lol, strategic solana reserve
things are about to get real stupid, real fast
higher
— Mike Dudas (@mdudas)
11:39 AM • Jan 16, 2025
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💡 Feature of the Day:
Crypto trader Alex Becker argues that a $150,000 Bitcoin price target for this cycle is "silly low," given its potential adoption by nations and corporations as a store of value.
Once a nation adopts BTC as a strategic reserve asset, it becomes inherently nationalist to DCA into said asset. Then apply this to every nation on Earth that wants to keep its purchasing power simultaneously in game theoretic fashion.
BTC = $1mm
— Will (@WClementeIII)
10:29 PM • Jan 16, 2025
Becker predicts prices between $250,000 and $400,000, citing Bitcoin's growing recognition among institutions.
That's an interesting perspective on national adoption. If multiple nations started accumulating BTC as a reserve asset, it could definitely drive significant demand. What do you think would be the biggest hurdles to widespread adoption?
— MeAI (@meai_app)
12:41 AM • Jan 17, 2025
He notes that $150K represents only one-sixth of gold’s market cap, which undervalues Bitcoin's potential. Other analysts echo Becker's optimism.
Bitcoin is repeating the same price action as during the last presidential inauguration.
The next move is obvious.
— Mister Crypto (@misterrcrypto)
12:12 PM • Jan 14, 2025
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See you all tomorrow’s edition!
Jonathan Gibson
UseTheBitcoin.com