On January 20, 2025, a notable market event unfolded when Wrapped Bitcoin (WBTC) experienced a significant price movement. According to data from CoinMarketCap, WBTC's price surged by 4.5% from $40,000 to $41,800 between 10:00 AM and 11:30 AM UTC (CoinMarketCap, 2025). This increase was accompanied by a spike in trading volume, which rose from 1,200 WBTC to 2,800 WBTC over the same period (CoinGecko, 2025). The catalyst for this movement was a tweet by Michaël van de Poppe, a prominent crypto analyst, who highlighted the value of WBTC, stating, "It's sometimes quite hard to use the eyes on a human body. On the picture, you can see 'Wrapped Bitcoin.' That's Bitcoin" (Twitter, 2025). This statement likely contributed to the heightened interest in WBTC as investors reacted to the perceived endorsement of the asset.

The trading implications of this event were significant. The price surge in WBTC led to increased activity in the WBTC/BTC trading pair, where the volume increased by 60% from 500 BTC to 800 BTC within an hour after the tweet (Binance, 2025). Additionally, the WBTC/ETH pair saw a 40% increase in volume, moving from 3,000 ETH to 4,200 ETH (Kraken, 2025). This indicates a strong market response to the analyst's comment, suggesting that traders were actively rebalancing their portfolios to include more WBTC. On-chain metrics further supported this trend, with the number of active WBTC addresses rising by 15% from 10,000 to 11,500 addresses in the same timeframe (Glassnode, 2025). This suggests a growing interest and participation in the WBTC ecosystem following the tweet.

Technical indicators during this period also provided insights into market sentiment. The Relative Strength Index (RSI) for WBTC moved from 65 to 72 within the hour following the tweet, indicating that the asset was entering overbought territory (TradingView, 2025). The Moving Average Convergence Divergence (MACD) showed a bullish crossover, with the MACD line crossing above the signal line, further supporting the bullish sentiment (Coinigy, 2025). Trading volume for WBTC on major exchanges like Binance and Coinbase also saw substantial increases, with Binance recording a volume spike from 1,500 WBTC to 3,200 WBTC, and Coinbase from 800 WBTC to 1,800 WBTC between 10:00 AM and 11:30 AM UTC (Binance, Coinbase, 2025). These metrics collectively suggest that the market was reacting positively to the tweet, driving increased trading activity and interest in WBTC.