MARKET SUMMARY
Latest Situation in Crypto Assets
| Assets | Last Price | 24h Change | Dominance | Market Cap. |
|---|---|---|---|---|
| BTC | 98,505.75 | -0.11% | 60.62% | 1,95 T |
| ETH | 2,783.28 | -1.25% | 10.42% | 335,47 B |
| XRP | 2.412 | -5.18% | 4.32% | 139,08 B |
| SOLANA | 199.28 | -3.29% | 3.01% | 96,97 B |
| DOGE | 0.2607 | -2.80% | 1.20% | 38,55 B |
| CARDANO | 0.7454 | -3.30% | 0.81% | 26,22 B |
| TRX | 0.2299 | 1.69% | 0.61% | 19,80 B |
| LINK | 19.55 | -2.33% | 0.39% | 12,46 B |
| AVAX | 26.17 | -3.39% | 0.33% | 10,76 B |
| SHIB | 0.00001570 | -4.46% | 0.29% | 9,24 B |
| DOT | 4.713 | -2.64% | 0.23% | 7,29 B |
*Prepared on 2.6.2025 at 14:00 (UTC)
WHAT’S LEFT BEHIND
US Applications for Unemployment Benefits were announced.
Explained: 219K
Expectation 214K
Previous 207K
Bhutan Government Transferred 751.31 BTC
According to Spot On Chain data, the Royal Government of Bhutan transferred 751.31 BTC (approximately $74.15 million) worth of funds to three new wallets in the last hour. This is believed to be an internal fund transfer.
USDC Treasury Mint 68.9 Million USDC on Ethereum Chain
According to Whale Alert data, USDC Treasury recently minted 68,925,352 new USDC on the Ethereum network. This move is considered part of efforts to increase liquidity in the stablecoin market.
Canada Bans Low Margin Practices in Crypto Funds
Canada has banned cryptocurrency funds from taking advantage of low margins. This regulation aims to ensure market stability while increasing the costs of leveraged trading.
Bank of England Cuts Interest Rates by 25 Basis Points
In line with expectations, the Bank of England cut interest rates from 4.75% to 4.5%. This was the third cut in the bank’s ongoing cycle of rate cuts.
Telegram Mandates Use of TON Connect for All Crypto Wallets
Telegram has made it mandatory for all third-party crypto wallets to use only the TON Connect protocol. Also, Mini Apps will only support the TON blockchain. This decision sparked discussions within the community about decentralization and exclusivity.
DeepSeek Warns Against Fake Accounts and Misleading Information
DeepSeek warned users about fake accounts and false information. Official accounts are only managed through WeChat, Xiaohongshu (@DeepSeek), X (@deepseek_ai) and the official website. Unofficial paid projects and groups are considered scams.
HIGHLIGHTS OF THE DAY
Important Economic Calender Data
| Time | News | Expectation | Previous |
|---|---|---|---|
| 19:30 | Fed Waller Speaks | – | – |
| 20:30 | FOMC Member Daly Speaks | – | – |
| 22:10 | FOMC Member Logan Speaks | – | – |
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 are trying to digest the mood brought by tariffs and DeepSeek agendas. After yesterday’s premium close, Wall Street futures pointed to a flat-to-positive opening, while the dollar recovered some of its losses. In Europe, where the Bank of England (BoE) cut interest rates in line with forecasts, stock markets are on the positive side and major digital assets continue to remain calm.
Beyond the new uncertainty that Trump’s proposal on Gaza may bring, investors seem to be focused on the latest macro data, the statements of the US Federal Reserve (Fed) members and the financial statements of major companies. Lastly, weekly jobless claims came in slightly above forecasts and Amazon’s balance sheet will be expected after the close of the US session today.
In the rest of the day, the statements of FED officials will be under scrutiny and tomorrow’s labor market statistics remain important. In crypto assets, we maintain our bullish expectations for the short term and the long-term outlook as mentioned below.
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 are important developments in the global economy and crypto markets. Unemployment claims in the US were realized above expectations with 219K. The Bank of England cut interest rates by 25 basis points from 4.75% to 4.5%, the third step in the interest rate cut cycle. On the Bitcoin side, the Royal Government of Bhutan transferred 751.31 BTC.
As we mentioned in our previous analysis, we mentioned the potential for an upside move in BTC price with the breakout of the flag pattern. With low momentum and limited volatility during the day, the price reached the resistance point at 99,100 and retested from this level. Currently, BTC is trading at 98,500 after a slight pullback. Technical oscillators continue to maintain buy signals, while the bearish momentum indicator is notable due to market uncertainty. It is critical for the price to settle above the 99,100 level in order to sustain the bullish movement. In case of a possible pullback, the 95,000 level will be closely monitored as a strong major support.
Supports 97,200 – 95,000 – 92,800
Resistances 99,100 – 98,000 – 101,400
ETH/USDT
ETH managed to rise as high as 2,860 in the morning hours, but at this point, it retreated with increasing selling pressure and fell to 2,781 support. Technical indicators for ETH, which reacted from this region, still continue to generate positive signals.
When we evaluate the price movements, Relative Strength Index (RSI) maintains its upward momentum. In particular, the price holding above the 2,781 level contributes to the continuation of the upward trend. However, despite some pullback in the Chaikin Money Flow (CMF) indicator on the last two 4-hour candles, the Cumulative Volume Delta (CVD) data shows that the selling in the spot market remains quite low compared to the selling in futures. This suggests that buyers still have a strong presence in the market. When we look at the Ichimoku indicator, the cloud structure of the price and its persistence above 2,781, which corresponds to the tenkan level, stands out as a critical threshold for the start of a new uptrend. If the price can stabilize above this level, the upside potential up to 2,992 will be maintained. However, if the price sags below the 2,781 level and closes in this region, it may create a negative pressure on ETH and deepen the selling wave. In such a scenario, the price may gradually decline to the 2,501 support level.
Supports 2,781 – 2,501 – 2,368
Resistances 2,992 – 3,131 – 3,339
XRP/USDT
Although XRP managed to rise up to 2.47 resistance in the morning hours, it seems to have fallen again with the sales reaction it received from this region. As mentioned in the morning analysis, this situation seems to continue in indicators with a neutral outlook.
First of all, looking at the Ichimoku indicator, it is seen that the price continues to move between the tenkan and kijun levels. Chaikin Money Flow (CMF), on the other hand, declined with the sales from the 2.47 level, indicating liquidity outflows. However, it has shown a positive divergence at this point and creates a potential buy signal. Relative Strength Index (RSI), on the other hand, continues to move horizontally, indicating that XRP is accumulating in this process.
As a result, as mentioned in the morning analysis, the price can be expected to move in this narrow range for a while. However, with the positive divergence on CMF, it seems likely that the price will move towards 2.47 resistance again. Exceeding this level could start a new uptrend. The 2.25 level continues to stand out as the most important support level.
Supports 2.2502 – 2.0201 – 1.6309
Resistances 2.4719 – 2.6489 – 2.7815
SOL/USDT
Solana-based meme coin creation platform Pump.fun has been served with a cease and desist letter by two US law firms, Burwick Law and Wolf Popper, over allegations that it hosts tokens that illegally use the platform’s names and logos. Onchainde, Solana’s derivatives market experienced a notable shift, with trading volume dropping sharply by 34%, according to Coinglass data. Despite the decline, total derivatives volume remains significant at $8.06 billion. Meanwhile, total open interest reached $5.48 billion, indicating continued investor participation despite the declining volume.
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. When we analyze the Chaikin Money Flow (CMF)20 indicator, it is in positive territory, but inflows have started to decline. However, the Relative Strength Index (RSI)14 indicator is at the mid-level of the negative zone and the price continues to be at the mid-level of the downtrend in the RSI that started on January 19. At the same time, the discrepancy is noticeable. This could push the price higher. The 237.53 level appears to be a very strong resistance point 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 189.54 support level can be triggered again. If the price reaches these support levels, a potential bullish opportunity may arise if momentum increases.
Supports 189.54 – 181.75 – 171.82
Resistances 200.00 – 209.93 – 222.61
DOGE/USDT
Since our analysis in the morning, the price continues to trend sideways. 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 moving averages and the asset may increase the probability of DOGE rising. When we examine the Chaikin Money Flow (CMF)20 indicator, although it is in positive territory, money inflows have started to decrease. At the same time, Relative Strength Index (RSI)14 is at the middle level of the negative zone. The 0.33668 level appears 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 0.25025 – 0.22632 – 0.21154
Resistances 0.28164 – 0.30545 – 0.33668
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.
