Bitcoin
$27,696.93-0.03%
Ethereum
$1,901.67+0.56%
Binance Coin
$311.22-0.11%
XRP
$0.51710792+3.94%
Cardano
$0.37837700-0.27%
Dogecoin
$0.07228809-1.09%
Solana
$21.18+2.95%
Polygon
$0.89955571-0.72%
Tron
$0.07650094+0.84%
Polkadot
$5.44-0.36%
Litecoin
$92.07+1.23%
Binance USD
$1.00+0.08%
Shiba Inu
$0.00000868-0.10%
Avalanche
$14.38-0.38%
Wrapped Bitcoin
$27,731.07-0.06%
Uniswap
$5.14+0.55%
Chainlink
$6.60-0.89%
Cosmos
$10.83+0.68%
Monero
$152.82-0.70%
Ethereum Classic
$18.24-0.60%
Stellar
$0.09069000+1.53%
Bitcoin Cash
$113.53-1.15%
Internet Computer
$4.81-1.03%
Filecoin
$4.82+4.22%
Lido DAO
$2.15-1.10%
Quant
$117.02+4.20%
Aptos
$8.48+0.41%
Hedera
$0.05276278+0.26%
Arbitrum
$1.22+0.21%
Crypto.com
$0.06016692-0.63%
VeChain
$0.02079651+1.76%
NEAR Protocol
$1.60-1.20%
The Graph
$0.13088680+4.12%
ApeCoin
$3.19-0.24%
Algorand
$0.15124562+0.12%
The Sandbox
$0.55617442+1.24%
Paxos Dollar
$0.99567628-0.28%
EOS
$0.90760000+1.37%
Aave
$66.40-1.00%
Elrond
$36.91+0.07%
Fantom
$0.32765600-1.09%
Decentraland
$0.47977928+0.44%
Theta
$0.87323042+1.30%
Tezos
$0.92904700-0.15%
Stacks
$0.62423173-0.47%
Axie Infinity
$7.05-1.10%
Flow
$0.74703516-0.69%
Immutable X
$0.77264564+1.28%
Synthetix
$2.40+0.46%
NEO
$10.60-2.80%
Gala
$0.02992415+0.00%
Curve DAO Token
$0.83445193-1.95%
Bitcoin SV
$33.72-1.76%
Injective Protocol
$7.63+1.56%
Kava.io
$1.08-4.14%
Maker
$643.68+1.17%
BitTorrent
$0.994e-700-0.82%
IOTA
$0.19976600-4.96%
Chiliz
$0.10015389-0.65%
PAX Gold
$1,969.19+0.68%
Mina
$0.56514961+0.43%
Luna Classic
$0.00008627-0.36%
Dash
$43.96+2.07%
Optimism
$1.46-4.06%
eCash
$0.00002498-1.07%
Trust Wallet Token
$1.09-0.23%
Flare
$0.02460633+0.69%
Zilliqa
$0.02363161+0.59%
Nexo
$0.69310873+0.72%
Woo Network
$0.22551401-1.01%
Mask Network
$4.61+1.47%
Loopring
$0.29042530-0.40%
THORChain
$1.15-0.74%
PancakeSwap
$1.72+0.27%
dYdX
$2.13+5.16%
Convex Finance
$4.40-1.47%
Enjin
$0.33605679+1.09%
Baby Doge Coin
$0.000000002.32%
FLOKI
$0.00003281-1.09%
Basic Attention Token
$0.21801700-1.79%
NEM
$0.03351113+1.83%
Zcash
$33.81+0.63%
Fetch.ai
$0.27587616+7.17%
Holo
$0.00160064-0.15%
Qtum
$2.69-1.42%
Oasis Network
$0.05370838+2.53%
Ethereum Name Service
$10.42-1.21%
Illuvium
$49.96+1.80%
Celo
$0.51423354-1.12%
Ravencoin
$0.02146645+0.29%
Audius
$0.24408104+2.00%
Compound
$36.42-0.73%
Decred
$16.55-0.72%
BLUR
$0.49930831-3.00%
Terra 2.0/LUNA
$0.86102949+0.16%
ICON
$0.24907214+0.84%
Kusama
$26.16+0.46%
SXP
$0.40360634+0.46%
Stepn
$0.26302065-1.28%
IoTeX
$0.02367981+5.19%
Bitcoin Gold
$12.73+0.43%
JasmyCoin
$0.00467140-0.71%
EthereumPoW
$2.03+0.03%
Yearn Finance
$6,609.24-0.79%
Ankr
$0.02648342+0.60%
Helium
$1.40-0.16%
0x
$0.22924672+2.06%
Harmony
$0.01514538-2.34%
Braintrust
$0.74549816-2.40%
Moonbeam
$0.28517040+0.07%
Band Protocol
$1.45+0.23%
Wax
$0.05440937-0.69%
Waves
$1.78+0.84%
Sushiswap
$0.86847058+0.06%
Siacoin
$0.00325090-0.22%
Joe
$0.45824545+15.59%
Skale
$0.03386714+3.47%
SafePal
$0.41062063+0.68%
Alchemy Pay
$0.03064264+4.99%
Gains Network
$4.98-1.62%
Amp
$0.00265780+2.24%
Aragon
$3.55-1.18%
Stargate Finance
$0.70770710+2.66%
Livepeer
$5.05+0.31%
UMA Protocol
$1.98-0.79%
Cartesi
$0.19056038+6.50%
SPACE ID
$0.47659301-4.44%
TerraUSD
$0.01391130-2.00%
Polymath Network
$0.14490000-6.52%
DigiByte
$0.00780057-0.13%
Synapse
$0.64347917+2.41%
Nervos Network
$0.00365096+1.48%
Lisk
$0.83494123+0.41%
Dogelon Mars
$0.00000021-0.23%
iExec RLC
$1.59+1.97%
Kyber Network
$0.62523090+0.06%
Ribbon Finance
$0.15891631+1.03%
OMG Network
$0.79415455-0.01%
MetisDAO
$22.59+0.48%
Nano
$0.72293852+1.38%
Celsius
$0.22058638-0.94%
Numeraire
$14.97-0.83%
Secret
$0.43839488-2.18%
Smooth Love Potion
$0.00219462-0.81%
Chromia
$0.15880179+8.81%
Syscoin
$0.12638947-0.28%
Vulcan Forged PYR
$3.57-1.71%
Dent
$0.00088030+0.74%
MOBOX
$0.43032027-2.18%
COTI
$0.06902783-0.10%
Steem
$0.18625291-0.25%
NKN
$0.12193715-0.85%
Ren
$0.07507671+0.93%
WINkLink
$0.00007354-0.57%
Spell Token
$0.00060498+4.65%
Civic
$0.08617604-0.13%
NuCypher
$0.05298713+0.00%
Keep Network
$0.12522444-1.75%
Request
$0.08663897+2.55%
Bifrost
$0.05157409-1.54%
Bancor
$0.41952135+1.98%
Index Chain
$0.08435169-5.06%
CEEK VR
$0.06913616-1.34%
SuperRare
$0.09273121-1.83%
Sun Token
$0.00582637+0.38%
WazirX
$0.11923232-1.31%
Reef
$0.00225971+1.53%
Augur
$6.43-2.25%
XYO Network
$0.00398210-2.01%
RACA
$0.00014619-1.26%
LooksRare
$0.08914119+1.88%
Stormx
$0.00436166+0.19%
Moonriver
$6.50-0.50%
Storj
$0.30528653+1.09%
Raydium
$0.19849223+1.94%
Saitama
$0.00091699+1.71%
Voyager Token
$0.13972863-2.57%
Orchid
$0.06728737+0.39%
GAS
$2.84-0.26%
Yield Guild Games
$0.19738084+5.22%
Kishu Inu
$0.000000009.49%
Adventure Gold
$0.45090340+0.54%
Polkastarter
$0.34953978+0.36%
Verge
$0.00202667-0.22%
Alpaca Finance
$0.19926521-0.80%
Star Atlas DAO
$0.15897470+0.67%
CLV
$0.04625436-0.37%
Enzyme
$18.55-0.00%
Ampleforth Governance
$2.83-1.71%
Quickswap
$57.63-1.17%
Serum
$0.07031080-3.09%
Blue Zelle
$0.06504172+1.47%
Star Atlas
$0.00192100-2.43%
district0x
$0.02790000-1.41%
Stafi
$0.35690968+0.61%
Harvest Finance
$27.90-0.19%
Samoyedcoin
$0.00450752+0.31%
Rarible
$1.23-1.71%
Green Satoshi Token
$0.01495313+1.52%
Tokemak
$0.76160219-1.89%
Quantstamp
$0.01246912-3.38%
Mirror Protocol
$0.03683377+1.27%
SingularDTV
$0.000402100.00%
FTX Token
$0.96919977-3.01%
Pepe
$0.00000128-10.60%
Tether
$1.00+0.05%
USD Coin
$1.00+0.06%
Dai
$0.99973363+0.04%
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Crypto Prices CoinDesk Market Index CoinDesk Market Index

On today’s episode of “The Breakdown,” NLW looks at bitcoin’s impressive January rally and discusses what’s driving it. Specifically, he explores claims of market manipulation versus simple mean reversion. Finally, he looks at whether it is reflective of a broader macro shift as well.

See also: Crypto Markets Analysis: Bitcoin, Ether Price Movement Stalls

“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Swoon” by Falls. Image credit: Craig Hastings/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

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