Crypto Market Update: Bitcoin Nears $97K, Ethereum Slips Below $3.4K Amid Mixed Signals

Bitcoin is holding just below $97,000, while Ethereum has dipped back under $3,400. Despite these minor pullbacks, the first week of January has been largely bullish for the cryptocurrency market, recovering from the fade seen at the end of 2024. Altcoins Outperform with Strong Gains Altcoins have been the standout performers so far in 2025. Stellar (XLM) surged by 26%, Injective (INJ) climbed 24%, and Cardano (ADA) posted a 19% gain, all continuing their impressive weekly rallies. Bitcoin sits at just under $97K, and Ethereum back below $3.4K. The first week of January has still been mostly a bullish rebound to crypto's fade at the end of 2024. Altcoins like Stellar (+26%), Injective (+24%), & Cardano (+19%) look to continue their strong weeks. pic.twitter.com/pk8ffLQwO1 — Santiment (@santimentfeed) January 8, 2025 Ethereum Foundation Makes First 2025 Sale The Ethereum Foundation recently made its first ETH sale of 2025, selling 100 ETH for 329,463 DAI. This comes after their 2024 activity, where the Foundation sold 4,466 ETH for $12.61 million at an average price of $2,823. Historically, such sales have preceded notable price drops, raising questions about future market movements. The Ethereum Foundation just made their first $ETH sale in 2025: 100 $ETH for 329,463 $DAI . In 2024, they sold a total of 4,466 ETH for $12.61M at an average price of $2,823, often before sharp price drops. Follow @spotonchain and set alerts for the #EthereumFoundation 's next… https://t.co/JCcswAee76 pic.twitter.com/Go4JQY9LfE — Spot On Chain (@spotonchain) January 8, 2025 Ethereum Spot ETF Sees Significant Outflow On January 7, Ethereum spot ETFs recorded a net outflow of $86.79 million. Currently, the total net asset value of Ethereum spot ETFs stands at $12.28 billion. This decline in ETF holdings may suggest caution among institutional investors despite a broader recovery in the crypto market. On January 7, the total net outflow of Ethereum spot ETF was 86.7917 million US dollars. Currently, the total net asset value of Ethereum spot ETF is 12.281 billion US dollars. https://t.co/Tvs2oCS03I pic.twitter.com/NMORy0Oe3j — Wu Blockchain (@WuBlockchain) January 8, 2025 What’s Next for Crypto? As Bitcoin and Ethereum face resistance near their current levels, investors are closely watching for signals that could dictate the next move. The strong performance of altcoins, coupled with institutional activity in both Bitcoin and Ethereum, suggests a mix of optimism and caution. Reclaiming key levels like $100K for Bitcoin and $3.6K for Ethereum will be critical for sustaining the bullish momentum into 2025. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: alekskhmelev/ 123RF // Image Effects by Colorcinch