MARKET SUMMARY
Latest Situation in Crypto Assets
| Assets | Last Price | 24h Change | Dominance | Market Cap. |
|---|---|---|---|---|
| BTC | 97,437.29 | -1.89% | 60.32% | 1,93 T |
| ETH | 2,740.39 | 0.26% | 10.30% | 330,31 B |
| XRP | 2.497 | -2.69% | 4.50% | 144,11 B |
| SOLANA | 204.71 | -1.05% | 3.11% | 99,70 B |
| DOGE | 0.2642 | -0.11% | 1.22% | 39,08 B |
| CARDANO | 0.7475 | -0.59% | 0.82% | 26,25 B |
| TRX | 0.2241 | 1.20% | 0.60% | 19,30 B |
| LINK | 19.51 | -2.82% | 0.39% | 12,45 B |
| AVAX | 26.59 | 1.18% | 0.34% | 10,94 B |
| SHIB | 0.00001632 | 5.37% | 0.30% | 9,60 B |
| DOT | 4.726 | -0.97% | 0.23% | 7,30 B |
*Prepared on 2.5.2025 at 07:00 (UTC)
WHAT’S LEFT BEHIND
Crypto Czar David Sacks: Strategic Bitcoin Reserves Top Priority Agenda
David Sacks, the crypto and artificial intelligence “czar” appointed by US President Trump, announced that evaluating Bitcoin reserves in the US sovereign wealth fund is one of the government’s priority goals. Sacks stated that the decision on the matter will be guided by Commerce Secretary nominee Howard Lutnick.
US Lawmakers Form Working Groups for Crypto and Stablecoin Regulations
The US House of Representatives and Senate have formed bicameral working groups to develop a regulatory framework for digital assets and stablecoins. Senate and House committees will play an important role in shaping the crypto agenda.
SEC Appoints Former Coin Center Director Landon Zinda to Crypto Working Group
Landon Zinda has left his position at Coin Center to become a senior advisor to the SEC’s cryptocurrency working group. This move signals that the SEC will take a more strategic approach to cryptocurrency policy.
SEC’s Crypto Task Force Aims to Provide Legal Grounds for Token Issuances
The SEC’s new cryptocurrency working group is working on regulatory changes that would allow projects to legally issue tokens. This development could particularly affect the approval processes for exchange-traded crypto products.
SEC Downsizes Crypto Enforcement Team
According to the New York Times, the SEC has decided to downsize its cryptocurrency enforcement team. This is seen as the first concrete step in the Trump administration’s policy of easing regulation of digital assets.
NYSE Files Application for Grayscale Litecoin (LTC) ETF
The NYSE has filed a formal 19b-4 application with the SEC to convert Grayscale’s Litecoin Trust into a spot ETF. This application is an important process for the listing of new financial products.
XRP Ledger Recovers After One Hour Outage
XRP Ledger spontaneously recovered without any asset or transaction loss after a rare block production outage of about an hour.
Semler Scientific Buys 871 BTC with $88.5 Million Investment
US-based Semler Scientific purchased 871 BTC, investing $88.5 million to increase its Bitcoin holdings. The company’s total Bitcoin holdings now stand at 3,192 BTC.
Massive Stablecoin Minting from Tether and Circle
Tether minted 1 billion USDT on the Tron network in the last 6 hours. Circle printed 250 million USDC on its Solana network. These large mintings aim to increase liquidity in the stablecoin markets.
Jupiter to Launch JUP Buyback Mechanism This Week
He reported that Jupiter founder meow announced the first buyback plan on the X platform at the end of last month, which was to transfer JUP to the buyback wallet every week, make fixed investments in JUP and lock it in the trash bin for at least 3 years.
HIGHLIGHTS OF THE DAY
Important Economic Calender Data
Time News Expectation Previous
Kaspa (KAS) 172.01M Tokens Unlock
XDC Network (XDC) 841.18M Tokens Unlock
12:30 FOMC Member Barkin Speaks
13:15 US ADP Nonfarm Employment Change (Jan) 148K 122K
14:00 FOMC Member Barkin Speaks
14:45 US S&P Global Services PMI (Jan) 52.9 52.8
15:00 US ISM Services PMI (Jan) 54.2 54.1
19:30 FOMC Member Goolsbee Speaks
20:00 FOMC Member Bowman
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
Tariffs continue to be the top agenda item in global markets. While the tariffs announced to be imposed on Mexico and Canada were postponed after negotiations, no such compromise was reached with China, and Asia’s largest economy introduced counter tariffs. However, China’s tariffs were seen as a political step and a soft move. With Trump and Xi Jinping expected to discuss the situation in a phone call, hopes remain alive that further escalation can be avoided and the tariffs eventually reversed.
Returning from the 6-day New Year holiday, China is pricing in delayed fears of “trade wars” this morning. European and US index futures pointed to a negative and mixed opening, while the dollar index fell below 108. Macro data from the US today will be closely monitored ahead of the critical non-farm payrolls data due on Friday.
We think that volatility and wavelengths may increase, but price changes may be observed in a horizontal band, albeit relatively wider. The direction in which the trade war issue will evolve and the US macro agenda will continue to be decisive in pricing behavior. As for the longer term outlook, we see no reason to change our bullish expectation mentioned below, underlining once again that volatility may be high in the short term.
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
David Sacks, the Director of Crypto and Artificial Intelligence appointed by US President Trump, announced that evaluating Bitcoin reserves in the US sovereign wealth fund is among the government’s priority goals. Sacks stated that the final decision on this issue will be made under the guidance of Commerce Secretary nominee Howard Lutnick. These statements did not find their counterpart in the markets and Bitcoin fell below six-digit levels again. Today, eyes will be on US non-farm payrolls data.
Looking at the technical outlook, BTC, which recovered after the sharp pullback at the beginning of the week and reached six-digit levels, could not stay at these levels and continues to maintain its downtrend structure. BTC price, currently trading at 97,700, continues to have an uncertain outlook. BTC, which occasionally broke the flag formation seen in its price yesterday, could not stay on it and retreated back into the formation. When we look at the technical oscillators, there is a sell signal close to the oversold zone on the hourly charts, while a sell signal is also seen on the parallel 4-hour charts. On the other hand, the momentum indicator gaining strength in the positive zone creates a mismatch with the oscillators. While the price, which is in an uncertain image, is expected to show upward attacks from time to time, it is moving in an orientation towards the 95,000 level within the falling trend structure. In a possible upward breakout, we will again follow the price to settle at the 99,100 resistance point within the green zone.
Supports 97,200 – 95,000 – 92,800
Resistances 99,100 – 98,000 – 101,400
ETH/USDT
Yesterday evening, President Trump’s crypto chief, David Sacks, held his first press conference live. Prior to this meeting, expectations for possible announcements regarding strategic reserves caused positive price movements in the crypto market. However, Sacks did not fully meet the market’s expectations by using a more cautious and balanced language in his speech. As a result, a general retreat was observed in crypto assets. ETH was also affected by this movement, losing the support of $ 2,781 and falling to $ 2,630. In the morning hours, it is trying to test the $ 2,781 level again with a slight recovery.
When the technical indicators are analyzed, the Relative Strength Index (RSI) followed a horizontal course, but after the recovery in the morning hours, it moved upwards and formed a double bottom. The Chaikin Money Flow (CMF) indicator, on the other hand, continues to move sideways in positive territory, indicating that the money entering the market is still strong. On the Ichimoku indicator, although price action remains under the cloud, the intersection of the kijun and tenkan lines can be interpreted as a buy signal . The momentum indicator, however, signals a slight pullback due to the volatility in price action.
Although the general indicators show a positive trend, a close above the $2,781 level is critical. Persistence above this level could increase Ethereum’s upside potential up to the $2,992 level. However, if $2,781 works as a strong resistance and is not broken to the upside, there is a risk that the price could retreat to the $2,501 level.
Supports 2,501 – 2,368 – 2,114
Resistances 2,781 – 2,992 – 3,131
XRP/USDT
Yesterday evening, after President Trump’s crypto officer David Sacks’ speech, XRP moved downward and fell below the $2.47 level. However, with the reaction purchases from this level, it showed a slight recovery and the price started trading above the $ 2.47 level again.
Technical indicators show that the current market structure is weakening and the bearish trend is confirmed. Relative Strength Index (RSI) continues its downward movement, losing bullish momentum. This may signal that buyers are losing strength and selling pressure is increasing. Similarly, the Chaikin Money Flow (CMF) indicator is also trending negative, indicating that capital inflows are decreasing and selling pressure is increasing. On the Ichimoku indicator, the buy signal continues and the kumo cloud has started to form a positive area. However, the extent to which price action can support this signal will depend on whether short-term resistance levels can be broken.
The technical outlook shows that the $2.47 level is a critical threshold. Closes below this level could increase selling pressure and cause the price to experience a deeper decline. In such a scenario, XRP is likely to test lower support levels. However, if the price manages to hold on to this level, limited recovery movements can be seen during the day.
Supports 2.4719 – 2.2502 – 2.0201
Resistances 2.6489 – 2.7815 – 2.9379
SOL/USDT
The total value locked (TVL) in the Solana ecosystem has exceeded $10.8 billion. This is a more than five-fold increase compared to 2024.
SOL has fluctuated narrowly since our analysis yesterday and broke the uptrend to the downside. On the 4-hour timeframe, the 50 EMA (Blue Line) has broken the 200 EMA (Black Line) to the downside. This may cause pullbacks in the short term. At the same time, the asset continues to be priced below the 50 EMA and 200 EMA. When we examine the Chaikin Money Flow (CMF)20 indicator, it is in positive territory, but at the same time, money inflows have started to increase. However, the Relative Strength Index (RSI)14 indicator is at the upper level of the negative zone and the price is preparing to test the ceiling level of the downtrend that started on January 19 at the time of writing. The 237.53 level appears to be a very strong resistance point in the uptrend 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 289.54 support level can be triggered. If the price reaches 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
Publicly traded Canadian blockchain company Neptune Digital Assets Corp. has purchased 1 million DOGE tokens. Neptune CEO Cale Moodie said the firm is committed to acquiring more assets while managing leverage risk.
Since our analysis yesterday, the price has been trending sideways, breaking the uptrend. This may cause the price to fall. On the 4-hour timeframe, the 50 EMA (Blue Line) continues to be 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 analyze the Chaikin Money Flow (CMF)20 indicator, although it is in positive territory, money inflows remained stable. 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.
