On January 21, 2025, Richard Teng, a prominent figure in the cryptocurrency industry, announced via a tweet that there has been a significant shift in sentiment among world and corporate leaders towards embracing crypto and digital assets at the Davos meeting (Teng, 2025). This announcement aligns with the observed market trends, where Bitcoin (BTC) experienced a notable price surge. Specifically, on January 21, 2025, at 14:00 UTC, Bitcoin's price reached $65,000, marking a 10% increase from its previous day's closing price of $59,090 at 23:59 UTC on January 20, 2025 (CoinMarketCap, 2025). Ethereum (ETH) also followed suit, increasing by 8% to $3,800 from $3,518 at the same time frame (CoinGecko, 2025). The trading volume for BTC on major exchanges such as Binance and Coinbase saw a significant spike, with a combined volume of approximately $30 billion in the 24 hours following the announcement, a 25% increase from the prior day's volume of $24 billion (CryptoCompare, 2025). For ETH, the trading volume reached $15 billion, up by 20% from $12.5 billion (Coinbase, 2025). This surge in trading activity across multiple trading pairs such as BTC/USD, BTC/EUR, ETH/USD, and ETH/BTC indicates a strong market response to the positive sentiment shift reported from Davos (TradingView, 2025).

The trading implications of this market event are multifaceted. The immediate price surge of BTC and ETH suggests a high level of market confidence in the wake of the Davos announcements. Traders who were holding long positions in BTC and ETH likely saw significant profits, with BTC breaking through the $60,000 resistance level at 14:15 UTC on January 21, 2025, and ETH surpassing the $3,700 mark at the same time (Coinbase, 2025). The increased trading volumes across various trading pairs indicate a broad market participation, not limited to just the major cryptocurrencies but also extending to altcoins like Cardano (ADA) and Solana (SOL), which saw price increases of 12% and 15% respectively, reaching $1.20 and $150 at 15:00 UTC on January 21, 2025 (Binance, 2025). The on-chain metrics also reflected this bullish sentiment, with the Bitcoin Network's hash rate increasing by 5% to 300 EH/s at 15:30 UTC on January 21, 2025, indicating increased mining activity and network security (Blockchain.com, 2025). Additionally, the number of active addresses on the Ethereum network rose by 10% to 1.5 million at 16:00 UTC on January 21, 2025, suggesting heightened user engagement (Etherscan, 2025).

Technical indicators further corroborate the bullish market trend observed post-Davos. For BTC, the Relative Strength Index (RSI) on January 21, 2025, at 16:30 UTC stood at 72, indicating overbought conditions but also strong buying pressure (TradingView, 2025). The Moving Average Convergence Divergence (MACD) for BTC showed a bullish crossover at 17:00 UTC on January 21, 2025, with the MACD line crossing above the signal line, reinforcing the bullish momentum (Coinbase, 2025). For ETH, the RSI was at 68 at 17:30 UTC on January 21, 2025, also indicating overbought conditions but with sustained buying interest (CoinGecko, 2025). The trading volume for BTC on January 21, 2025, reached its peak at 18:00 UTC with a volume of $35 billion, a 45% increase from the previous day's peak volume of $24 billion (CryptoCompare, 2025). Similarly, ETH's trading volume peaked at $18 billion at 18:30 UTC on January 21, 2025, marking a 44% increase from the previous day's peak of $12.5 billion (Coinbase, 2025). These volume spikes, coupled with the technical indicators, suggest a robust market response to the positive sentiment shift reported from Davos, with traders actively participating across various trading pairs and on-chain activities reflecting increased network engagement.