Here’s what happened in crypto today

Today in crypto, BitMEX co-founder Arthur Hayes predicted $612 billion in new liquidity to the United States Treasury by March 2025 may counterbalance any regulatory disappointment from the incoming administration of President-elect Donald Trump, Fidelity Digital Assets said nation-state Bitcoin adoption will drive big crypto market growth this year, and VanEck has warned that blockchain network Hyperliquid desperately needs developer activity to sustain its market cap.US Fed money printing could spur Bitcoin rally in Q1 2025 — HayesBitcoin could benefit from more than $612 billion in new liquidity during the first quarter of 2025, potentially mitigating investor concerns over delayed crypto regulations in the United States.Bitcoin fell nearly 6% in the 24 hours leading up to 8:00 am UTC on Jan. 8, falling below the $100,000 mark, which has served as a psychological resistance since Dec. 19, Cointelegraph Markets Pro data shows.While President-elect Donald Trump’s upcoming inauguration on Jan. 20 is seen as a positive for the cryptocurrency industry, delays in implementing crypto regulations could dampen investor sentiment and drive down valuations.However, the addition of $612 billion in new liquidity to the US Treasury by March 2025 may counterbalance any regulatory disappointment, according to Arthur Hayes, co-founder of BitMEX. In a Jan. 7 blog post, Hayes wrote:“A letdown by team Trump on his proposed pro-crypto and pro-business legislation can be covered by an extremely positive dollar liquidity environment, an increase of up to $612 billion in the first quarter.”According to Hayes, money printing will accelerate after Trump’s inauguration, leading to a local top for Bitcoin in March before the start of a potential correction.Nation-state Bitcoin adoption to drive crypto growth this year, says FidelityFidelity Digital Assets said in its latest research paper that it expects more countries will add Bitcoin into their national strategic reserves this year which will kick off significant crypto market growth.“We anticipate more nation-states, central banks, sovereign wealth funds, and government treasuries will look to establish strategic positions in Bitcoin,” said Fidelity Digital Assets research analyst Matt Hogan in the firm’s Jan. 7 “2025 Look Ahead” paper.Hogan said these establishments could look to Bhutan and El Salvador “and the substantial returns they have been able to glean from such positions in a relatively short amount of time.”He said not making a Bitcoin (BTC) allocation could become more of a risk to nations than making one due to challenges such as debilitating inflation, currency debasement, and increasingly crushing fiscal deficits.He also predicted that tokenization will be the “killer app” of 2025, with onchain value doubling from $14 billion to $30 billion by the end of the year and that digital asset-structured and managed products would “go mainstream.”VanEck: Hyperliquid needs developers to avoid becoming obsoleteAsset manager VanEck is bullish on Hyperliquid but warned that the layer-1 blockchain needs more developers to sustain its token’s $25 billion market capitalization. In a Jan. 6 post, VanEck analysts said Hyperliquid had become one of the most valuable blockchains since the HYPE token airdrop in November. However, the network has “yet to attract much of a developer community.”“If Hyperliquid is unable to meet the growth expectations of its community, the prisoner’s dilemma facing many newly rich $HYPE holders may quickly unravel,” VanEck warned.VanEck said it took Hyperliquid just one month of trading to become the “13th most valuable project in crypto.” Its growth reflects broader adoption of decentralized exchanges, which saw more than $430 billion in trading volume last month.Meanwhile, the HYPE token has rallied more than 500% since its Nov. 29 launch.