Darkex Evening Analysis – February 10, 2025

MARKET SUMMARY

Latest Situation in Crypto Assets

*Prepared on 2.10.2025 at 14:00 (UTC)

WHAT’S LEFT BEHIND

Strategy Spent $742.4 Million to Buy 7,633 Bitcoins
Strategy (formerly MicroStrategy) bought 7,633 Bitcoins between February 3 and 9, 2025, for approximately $742.4 million in cash. The average cost per Bitcoin was $97,255.

Bitcoin Futures and Options Volumes on the CME Set a Record
CME, the largest derivatives exchange in the US, reached a record high of $285 million in trading volume in January. Bitcoin futures volumes rose to $220 billion and options volumes rose 125% to $6 billion.

Net Inflows of $1.3 Billion into Digital Asset Investment Products
According to data from Coin Shares, digital asset investment products saw net inflows of $1.3 billion last week. This was the fifth consecutive weekly inflow, while total inflows since the beginning of the year have reached $7.3 billion.

Nasdaq Submits Coin Shares’ LTC and XRP ETF Applications
Nasdaq has filed Coin Shares’ ETF applications for Litecoin (LTC) and XRP with the SEC. The 19b-4 application allows these products to be officially listed.

Metaplanet Expects $36 Million Profit from Bitcoin Investment
Japanese company Metaplanet announced that it expects to earn $36 million in unrealized gains for 2024 by purchasing 1,761 Bitcoin. The company also increased the number of shareholders by 500% to 50,000.

Brazil’s B3 Exchange Expands Crypto Trading
Brazil’s B3 Stock Exchange plans to launch Bitcoin options and Ethereum and Solana futures contracts. These new products are expected to be launched by the end of the year.

HIGHLIGHTS OF THE DAY

Important Economic Calender Data

*There is no important calendar data for the rest of the day.

INFORMATION

*The calendar is based on UTC (Coordinated Universal Time) time zone.

The economic calendar content on the relevant page is obtained from reliable news and data providers. The news in the economic calendar content, the date and time of the announcement of the news, possible changes in the previous, expectations and announced figures are made by the data provider institutions. Darkex cannot be held responsible for possible changes that may arise from similar situations

MARKET COMPASS

Global markets started the new week with President Trump’s announcement that he plans to impose 25% tariffs on all steel and aluminum imports to the US. However, we have not seen intense “anxiety” pricing in the markets, which may indicate that the markets are starting to adapt to the “tariff” and “trade wars” agenda. European stock markets are trading on the positive side and Wall Street futures are also pointing to a bullish start to the week. Major digital assets, which managed to recover their losses following Trump’s recent statements, were also pricing in line with this mood during European trading. If risk appetite continues to remain resilient to relatively bad news flows, we think that the uptrend may continue in the short term. Along with the tariff agenda, US Federal Reserve Chairman Powell’s statements in Congress and macro indicators to be announced later in the week may be decisive in pricing behavior.

From the short term to the big picture.

Trump’s victory on November 5, one of the main pillars of our bullish expectation for the long-term outlook in digital assets, produced a result in line with our predictions. In the process that followed, the appointments made by the president-elect and the increasing regulatory expectations for the crypto ecosystem in the US, as well as the emergence of BTC as a reserve, continued to take place in our equation as positive variables. Then, 4 days after the new President took over the White House, he signed the “Cryptocurrency Working Unit” decree, which was among his election promises, and we think that the positive reflection of the outputs it will produce in the coming days on digital assets may continue.

On the other hand, the expectations that the FED will continue its interest rate cut cycle, albeit on hiatus for now, and the fact that the volume in crypto-asset ETFs indicates an increase in institutional investor interest, support our upside forecast for the big picture. In the short term, given the nature of the market and pricing behavior, we think it would not be surprising to see occasional pause or pullbacks in digital assets. However, at this point, it is worth underlining again that we think the fundamental dynamics continue to be bullish.

TECHNICAL ANALYSIS

BTC/USD

There were remarkable developments in the crypto markets today. Strategy (formerly MicroStrategy) spent $742.4 million to buy 7,633 Bitcoins, while its average cost per Bitcoin was announced as $97,255. CME broke a record in Bitcoin futures and options volume in January, reaching a trading volume of $285 million. While there was a net inflow of $ 1.3 billion in digital asset investment products, Metaplanet’s expectation of earning $ 36 million with Bitcoin investment and Brazil B3 Exchange’s plans to expand crypto trading were among the prominent developments.

With all these developments, when we look at the technical outlook, BTC continues to trade at 97.900, managing to remain positive on the fifth 4-hour candle. While the neutral outlook we highlighted in the previous analysis continues to have an impact on the moving averages, on the technical oscillators side, the Ultimate Oscillator, Wave Trend and ADX indicators are observed to give buy signals. The momentum indicator, on the other hand, continues to display a weak outlook in the negative zone, while striving for a transition to the positive zone. In case the uptrend continues, short positions above the 99,100 level attract attention, while the 95,000 level remains important as a strong major support in a possible pullback.

Supports 95,000 – 92,800 – 90,400                                                                                                             

Resistances 98,000 – 99,100 -101,400

ETH/USDT

ETH rose gradually since the morning hours, reaching as high as $2,650. However, as the momentum weakened in this region, the price action started to move sideways. Technical indicators do not provide a clear directional signal at the moment and the market remains uncertain in the short term.

The Relative Strength Index (RSI) indicator continues to move sideways in line with the price action, indicating that it is not gaining strong momentum at the moment. The Chaikin Money Flow (CMF) indicator, on the other hand, has turned down again in the last 4 hours, indicating that sellers have increased their influence in the market and that liquidity inflows have decreased, and investors are cautious about opening new positions. Looking at the Ichimoku indicator to assess Ethereum’s current price action, it is noteworthy that the price is still trading between the tenkan and kijun levels. This structure shows that the market has not yet set a clear trend, and the accumulation process continues. In this process, it can be said that investors are waiting for the price to exceed certain levels and clarify its direction.

Technically, it is observed that Ethereum needs to make a permanent break above the $2,781 level in order to start a new uptrend. Surpassing this level could enable buyers to become stronger, allowing the price to exhibit a sharp upward movement towards the $2,992 and then $3,131 levels. On the other hand, the $2,501 level stands out as an important support point if ETH displays a downward movement. However, if this level is broken downwards, it is likely that the sales will accelerate, and the price will retreat to the $2,368 level.

Supports 2,501 – 2,368 – 2,114

Resistances 2,781 – 2,992 – 3,131

XRP/USDT

XRP, which has been on an upward momentum since the morning hours, has approached the major resistance area. Overcoming the selling pressure from these areas could start a new uptrend.

First of all, looking at the ichimoku indicator, it looks positive for the price to rise above the kijun and tenkan levels and enter the kumo cloud. Exceeding the kumo cloud may create a clear buy signal. Relative Strength Index (RSI) and Chaikin Money Flow (CMF) indicators have also gained upward momentum, supporting the price’s rise without any negative divergence. Indicators pointing to an increase in momentum and liquidity power seem to support the positive structure.

In summary, if the price can exceed the $2.46 level, the upper resistance of the kumo cloud and the $2.49 main resistance level zones in volume, it may start a new uptrend. A rejection from this region may cause a retreat back to the $2.30 levels.

Supports 2.2502 – 2.0201 – 1.6309

Resistances 2.4940 – 2.6489 – 2.7815

SOL/USDT

SOL’s spot market inflows reached $16 million today, its first major inflow in 10 days, according to Coinglass. The US Securities and Exchange Commission has accepted the application for a Solana-based exchange-traded fund, officially starting the countdown to approval or rejection. The regulator has until October 2025 to make its final decision.

SOL has been slightly bullish since our morning analysis. On the 4-hour timeframe, the 50 EMA (Blue Line) continues to be below the 200 EMA (Black Line). This could deepen the decline in the medium term. At the same time, the asset is priced below the 50 EMA and 200 EMA. On February 6, the uptrend that started to form continues. At the same time, the asset is testing the 50 EMA as resistance. When we examine the Chaikin Money Flow (CMF)20 indicator, it moved into the positive zone and inflows remained stable. However, the Relative Strength Index (RSI)14 indicator is at the bottom of the positive zone and the price has broken the ceiling of the downtrend that started on the RSI on January 19. This could initiate a bullish breakout. Also, the descending triangle pattern is broken to the upside. This may initiate the uptrend. The $ 237.53 level stands out as a very strong resistance place in the rises driven by both the upcoming macroeconomic data and the news in the Solana ecosystem. If it breaks here, the rise may continue. In case of retracements for the opposite reasons or due to profit sales, the support level of $ 181.75 can be triggered again. If the price comes to these support levels, a potential bullish opportunity may arise if momentum increases.

Supports 200.00 – 189.54 – 181.75

Resistances 209.93 – 222.61 – 237.53

DOGE/USDT

DOGE has moved sideways without volume since our morning analysis. On the 4-hour timeframe, the 50 EMA (Blue Line) remained below the 200 EMA (Black Line). This could mean that the decline could deepen further in the medium term. At the same time, the price is below the 50 EMA (Blue Line) and the 200 EMA (Black Line). However, the large gap between the two moving averages may increase the probability of the DOGE rising. The descending wedge pattern is broken by horizontal movements. This may bring bullishness. When we analyze the Chaikin Money Flow (CMF)20 indicator, it is in the neutral zone and money inflows and outflows are balanced. At the same time, Relative Strength Index (RSI)14 is at the middle level of the negative zone. The $0.33668 level stands out as a very strong resistance point in the rises due to political reasons, macroeconomic data and innovations in the DOGE coin. In case of possible pullbacks due to political, macroeconomic reasons or negativities in the ecosystem, the $0.22632 level, which is the base level of the trend, is an important support. If the price reaches these support levels, a potential bullish opportunity may arise if momentum increases.

Supports 0.22632 – 0.21154 – 0.18954

Resistances 0.25025 – 0.28164 – 0.30545

LEGAL NOTICE

The investment information, comments and recommendations contained herein do not constitute investment advice. Investment advisory services are provided individually by authorized institutions taking into account the risk and return preferences of individuals. The comments and recommendations contained herein are of a general nature. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results in line with your expectations.