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January Rally Drives Renewed Crypto Market Strength
Crypto assets surged as January investing patterns, risk-on sentiment and rising futures interest supported sharp gains across major tokens and meme coins.
The crypto market continued its rally on January 5, with Bitcoin and most major altcoins rising sharply and total market capitalisation climbing above $3.12 trillion. Meme coins outpaced established tokens, with Pepe Coin up around 70% over the past week and other popular projects like Bonk, Floki and Pudgy Penguins showing double-digit gains. Futures open interest has also increased, signalling renewed speculative interest ahead of expected catalysts like potential regulatory clarity and anticipated interest rate cuts.