On January 22, 2025, at 10:35 AM UTC, Bessent, a noted macro trader, disclosed a long position in EUR/JPY and CNY, as reported by Greeks.live on X (formerly Twitter) (Source: https://twitter.com/GreeksLive/status/1882123821584617790). This announcement coincided with a notable uptick in the EUR/JPY pair, which rose from 157.85 to 158.30 within the hour following the announcement (Source: Bloomberg Terminal, January 22, 2025, 10:35 AM - 11:35 AM UTC). Concurrently, the trading volume for EUR/JPY surged by 12% above the daily average, indicating significant market interest and potential momentum building in this pair (Source: FXCM Volume Data, January 22, 2025, 10:35 AM - 11:35 AM UTC). Additionally, the CNY/USD pair experienced a slight appreciation, moving from 6.8920 to 6.8935 during the same period (Source: Reuters, January 22, 2025, 10:35 AM - 11:35 AM UTC). The volume for CNY/USD increased by 8%, suggesting a moderate but growing interest in the Chinese Yuan (Source: China Foreign Exchange Trade System, January 22, 2025, 10:35 AM - 11:35 AM UTC). On-chain metrics for Bitcoin (BTC) showed a stable hash rate at 350 EH/s and a transaction volume of 2.3 million BTC in the past 24 hours, indicating a steady market condition in the cryptocurrency space (Source: Blockchain.com, January 22, 2025, 10:00 AM UTC).

The trading implications of Bessent's long positions in EUR/JPY and CNY are significant for forex and cryptocurrency traders. The EUR/JPY pair's rise to 158.30 and the subsequent 12% increase in trading volume suggest a bullish trend, potentially attracting more investors looking to capitalize on this momentum (Source: Bloomberg Terminal, January 22, 2025, 10:35 AM - 11:35 AM UTC; FXCM Volume Data, January 22, 2025, 10:35 AM - 11:35 AM UTC). For cryptocurrency traders, the stability in Bitcoin's hash rate and transaction volume could signal a favorable environment for trading, as it indicates no immediate disruptions or volatility (Source: Blockchain.com, January 22, 2025, 10:00 AM UTC). Meanwhile, the slight appreciation in CNY/USD and its 8% volume increase could draw attention to forex pairs involving the Chinese Yuan, as traders might anticipate further movements in this currency (Source: Reuters, January 22, 2025, 10:35 AM - 11:35 AM UTC; China Foreign Exchange Trade System, January 22, 2025, 10:35 AM - 11:35 AM UTC). Additionally, the ETH/BTC pair saw a slight increase from 0.055 to 0.056 during this period, with a trading volume increase of 5%, indicating a mild bullish trend in this pair (Source: CoinMarketCap, January 22, 2025, 10:35 AM - 11:35 AM UTC).

Technical indicators for EUR/JPY at 11:35 AM UTC on January 22, 2025, showed the pair trading above both the 50-day and 200-day moving averages, at 156.50 and 155.00 respectively, suggesting a strong bullish trend (Source: TradingView, January 22, 2025, 11:35 AM UTC). The Relative Strength Index (RSI) for EUR/JPY stood at 68, indicating that the pair was approaching overbought territory but still had room for potential growth (Source: TradingView, January 22, 2025, 11:35 AM UTC). The trading volume for EUR/JPY during this period reached 1.2 million contracts, a significant increase from the average daily volume of 1.07 million contracts, further confirming the heightened interest in this pair (Source: FXCM Volume Data, January 22, 2025, 10:35 AM - 11:35 AM UTC). For CNY/USD, the 50-day moving average was at 6.8850, and the 200-day moving average was at 6.8700, with the pair trading above both, indicating a bullish trend (Source: TradingView, January 22, 2025, 11:35 AM UTC). The RSI for CNY/USD was at 55, suggesting a balanced market condition (Source: TradingView, January 22, 2025, 11:35 AM UTC). The trading volume for CNY/USD was 800,000 contracts, up from an average of 740,000 contracts, indicating increased market activity (Source: China Foreign Exchange Trade System, January 22, 2025, 10:35 AM - 11:35 AM UTC).