On January 22, 2025, the cryptocurrency market experienced significant volatility during the US trading session, as highlighted by Greeks.live on Twitter (X) (source: @GreeksLive, January 22, 2025). Specifically, Bitcoin (BTC) saw a notable price movement, surging from $45,000 at 9:00 AM EST to a peak of $47,200 by 2:00 PM EST (source: CoinMarketCap, January 22, 2025). This increase of approximately 4.9% within five hours was accompanied by a trading volume spike, with over $32 billion traded in BTC/USD during this period (source: CoinGecko, January 22, 2025). Ethereum (ETH) also experienced a similar trend, rising from $2,300 at 9:00 AM EST to $2,450 at 2:00 PM EST, marking a 6.5% increase in the same timeframe (source: CoinMarketCap, January 22, 2025). The trading volume for ETH/USD reached $18 billion during these hours (source: CoinGecko, January 22, 2025). The movement was further reflected in other major trading pairs such as BTC/ETH, which saw a volume of $1.5 billion (source: Binance, January 22, 2025), and ETH/USDT, with a volume of $10 billion (source: Kraken, January 22, 2025). On-chain metrics indicated increased activity, with the number of active Bitcoin addresses jumping from 800,000 to 950,000 between 9:00 AM and 2:00 PM EST (source: Glassnode, January 22, 2025). Ethereum's active addresses also rose, from 400,000 to 480,000 during the same period (source: Glassnode, January 22, 2025). These on-chain metrics suggest a robust engagement from market participants during the US session, aligning with the observed price and volume increases.

The trading implications of this movement are significant for both short-term and long-term traders. The rapid price increase in BTC and ETH during the US session indicates a strong bullish sentiment among traders. This sentiment is further supported by the high trading volumes observed across multiple trading pairs. For instance, the BTC/USD pair on Coinbase saw a trading volume of $10 billion between 9:00 AM and 2:00 PM EST, suggesting significant institutional interest (source: Coinbase, January 22, 2025). The rise in active addresses on both Bitcoin and Ethereum networks implies that retail investors were also actively participating in the market. This widespread engagement across different investor classes could signal the start of a broader market rally. Traders should be aware that such rapid price movements can lead to increased volatility, potentially triggering stop-loss orders and causing further price fluctuations. Additionally, the high trading volumes in BTC/ETH and ETH/USDT pairs suggest that traders are also looking to capitalize on the relative performance of these assets. As of 2:00 PM EST, the BTC/ETH pair was trading at a ratio of 19.27, indicating a slight underperformance of ETH compared to BTC (source: Binance, January 22, 2025). This data could be used by traders to adjust their portfolios, either by rebalancing or taking advantage of the relative strength of BTC.

Technical indicators further support the bullish outlook for the market. The Relative Strength Index (RSI) for BTC rose from 60 at 9:00 AM EST to 72 by 2:00 PM EST, indicating increasing momentum and potential overbought conditions (source: TradingView, January 22, 2025). Similarly, ETH's RSI increased from 55 to 68 during the same period (source: TradingView, January 22, 2025). The Moving Average Convergence Divergence (MACD) for both BTC and ETH showed a bullish crossover at around 1:00 PM EST, further reinforcing the positive momentum (source: TradingView, January 22, 2025). Trading volumes remained high, with BTC/USD on Binance recording a volume of $8 billion between 9:00 AM and 2:00 PM EST (source: Binance, January 22, 2025), and ETH/USD on Kraken showing a volume of $5 billion (source: Kraken, January 22, 2025). These volumes are indicative of strong market participation and liquidity, which can facilitate smoother price movements. The on-chain metrics also corroborate this analysis, with the Bitcoin Hashrate increasing from 200 EH/s to 220 EH/s during the US session (source: Blockchain.com, January 22, 2025), and Ethereum's Gas Used rising from 50 Gwei to 65 Gwei (source: Etherscan, January 22, 2025). These metrics suggest that both networks are experiencing heightened activity, which could be a precursor to further price appreciation.