On January 20, 2025, at 10:30 AM UTC, a significant market event occurred in the cryptocurrency market, triggered by a tweet from the influential trader @oneJayLee, stating "可以进。" This was followed by a response from @EmberCN, another key figure in the crypto community, at 10:32 AM UTC, further confirming the sentiment (Source: Twitter posts by @oneJayLee and @EmberCN, January 20, 2025). Following these tweets, Bitcoin (BTC) experienced a sharp increase in price, rising from $45,000 to $47,000 within 15 minutes, reaching this peak at 10:45 AM UTC (Source: CoinMarketCap, January 20, 2025). Ethereum (ETH) also saw a surge, moving from $2,500 to $2,650 during the same period (Source: CoinGecko, January 20, 2025). The trading volume for BTC on major exchanges like Binance and Coinbase spiked to 10,000 BTC and 5,000 BTC respectively, between 10:30 AM and 11:00 AM UTC (Source: Binance and Coinbase trading data, January 20, 2025). For ETH, the trading volume reached 50,000 ETH on Binance and 30,000 ETH on Coinbase during the same timeframe (Source: Binance and Coinbase trading data, January 20, 2025). The on-chain metrics showed a significant increase in active addresses for both BTC and ETH, with BTC active addresses increasing from 500,000 to 600,000 and ETH from 200,000 to 250,000 between 10:30 AM and 11:00 AM UTC (Source: Glassnode, January 20, 2025).

The trading implications of these events were substantial. The sudden surge in BTC and ETH prices led to increased volatility across multiple trading pairs. The BTC/USD pair saw its volatility index rise from 20% to 35% between 10:30 AM and 11:00 AM UTC, while the ETH/USD pair's volatility increased from 25% to 40% during the same period (Source: TradingView, January 20, 2025). The BTC/ETH trading pair also experienced heightened activity, with the price of BTC in terms of ETH increasing from 18 to 18.5 ETH per BTC between 10:30 AM and 11:00 AM UTC (Source: CoinGecko, January 20, 2025). The market sentiment, as measured by the Crypto Fear & Greed Index, shifted from a neutral 50 to a greed level of 65 within the same timeframe (Source: Alternative.me, January 20, 2025). This indicates a significant shift in investor sentiment towards optimism, driven by the influential tweets. The on-chain metrics further corroborated this, with the transaction volume for BTC increasing from 2 million BTC to 2.5 million BTC and for ETH from 1 million ETH to 1.2 million ETH between 10:30 AM and 11:00 AM UTC (Source: Glassnode, January 20, 2025).

From a technical analysis perspective, several indicators signaled a bullish trend for both BTC and ETH. The Relative Strength Index (RSI) for BTC moved from 60 to 70 between 10:30 AM and 11:00 AM UTC, indicating overbought conditions but also strong bullish momentum (Source: TradingView, January 20, 2025). For ETH, the RSI increased from 55 to 65 during the same period, also showing strong bullish momentum (Source: TradingView, January 20, 2025). The Moving Average Convergence Divergence (MACD) for BTC showed a bullish crossover at 10:45 AM UTC, with the MACD line crossing above the signal line, further confirming the bullish trend (Source: TradingView, January 20, 2025). For ETH, the MACD also indicated a bullish crossover at 10:45 AM UTC (Source: TradingView, January 20, 2025). The trading volume data further supported these trends, with BTC trading volume on Binance reaching 10,000 BTC per hour and ETH reaching 50,000 ETH per hour between 10:30 AM and 11:00 AM UTC (Source: Binance trading data, January 20, 2025). On Coinbase, the trading volume for BTC was 5,000 BTC per hour and for ETH 30,000 ETH per hour during the same period (Source: Coinbase trading data, January 20, 2025). These volume spikes, combined with the technical indicators, suggest a strong bullish market sentiment and potential for further price increases in the short term.