This week in the crypto world was nothing short of eventful. From Peter Schiff’s critique of Donald Trump‘s crypto stance to the dramatic fluctuations in Bitcoin and Ethereum prices, the market was a rollercoaster ride.
Here’s a quick recap of the top stories that made headlines.
Trump’s Crypto Competition With China Futile: Schiff
Economist Peter Schiff expressed skepticism over President Donald Trump’s ambition to make the U.S. the “world capital” of Bitcoin. Schiff argued that China’s leadership is indifferent to the leading cryptocurrency, dismissing Trump’s repeated claims that the U.S. needs to lead in cryptocurrency and blockchain technology to prevent China from gaining an upper hand.
Bitcoin Slides To $65,000 As Liquidations Hit $2 Billion
Bitcoin experienced a significant drop, sliding roughly 8% in a day to $65,000. This downturn pushed the crypto sentiment index to Extreme Fear (5), with liquidations standing at $2.60 billion over the past 24 hours. Bitcoin ETFs reported $434.2 million in net outflows on Thursday, while Ethereum ETFs saw $80.8 million in net outflows.
Ethereum Drops Below $2,000
Ethereum took a hard hit over the past week, dropping around 30% and breaking below the $2,000 mark. Technical and on-chain signals deteriorated, with CryptoQuant data showing Ethereum’s transfer count (14-day SMA) surged to 1.17 million on Jan. 29, a level historically linked to major market turning points.
Eric Trump Jibed For Old Ethereum Advocacy
Popular podcaster Ashley DCan reignited her social media feud with Eric Trump amid Ethereum’s ongoing decline. The dispute dates back to June 2025, when Ashley mocked Trump’s advice to buy ETH at $2,900. Since then, the second-largest cryptocurrency had plummeted to $1,472, leading Ashley to accuse Trump of treating retail traders as “exit liquidity.”
Bitcoin Cash Surges As Bitcoin Reclaims $70,000
Bitcoin Cash experienced a rally as Bitcoin bounced back from late-Thursday weakness, reigniting risk appetite across crypto markets. Bitcoin surged about 12% on the day, reclaiming the $70,000 level and setting a decisively risk-on tone that’s lifting high-beta names like BCH alongside the broader rebound.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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