Price Action

*Bitcoin has seen a significant price increase of about 4.4%, reaching a high of $104,351, with substantial short liquidations suggesting a potential short squeeze. The price remains above key VWAP levels, indicating strong bullish momentum, though a decrease in the funding rate to 0.3 bps suggests caution among leveraged traders, with potential resistance at $108,276 and support around $94,897 or $89,609.

*Ethereum’s price rose nearly 2% to approximately $3,415, fluctuating between $3,310 and $3,450, indicating stability. The slightly elevated funding rate reflects bullish trader sentiment, with moderate liquidations, primarily on long positions; a bullish outlook could push prices above $3,687, while increased selling pressure might lead to a decline towards the $3,006 support level.

*Notable movers today include XCN(+89.0%), DOGE(+8.9%), LTC(+9.0%), BONK(+12.7%), SHIB(+9.6%)

Friday

*President-elect Donald Trump is preparing an executive order to prioritize cryptocurrency as a key policy focus and provide industry leaders with a platform in his administration, according to sources familiar with the matter. The order is expected to designate crypto as a national priority, a strategic move aimed at directing government agencies to collaborate with the industry. It will also establish a crypto advisory council to advocate for the sector’s policy objectives, said the sources, who spoke anonymously about the yet-to-be-announced executive order.

*Wall Street opened on a positive note ahead of Donald Trump’s anticipated return to the White House on Monday. With Trump’s inauguration set for Monday, his initial days in office are expected to see a wave of executive orders, potentially exceeding 100, according to Morgan Stanley analysts. They noted that any indications of how Trump plans to enforce proposed tariffs will be closely monitored by the market.

*Fitch’s new head of sovereign ratings, James Longsdon, indicated that the firm expects to gain a clearer understanding of how Donald Trump’s second presidential term might influence the U.S. credit rating by its next review in the summer. In his first interview since his appointment last year, Longsdon highlighted that China and France’s ratings, which are under downgrade pressure, will also be closely monitored, along with Britain’s response to its ongoing fiscal challenges.

Thursday

*Inflation in US has shown signs of moderation, positively impacting both stock and bond markets. However, rising bond yields and a strengthening dollar are putting pressure on equities, leading investors to seek safe-haven assets like gold.

*Komainu has secured a $75 million strategic investment from Blockstream, subject to regulatory approval. The funding, made entirely in Bitcoin, will support Komainu in creating its own Bitcoin treasury and driving its international expansion efforts.

*Malaysia is considering implementing crypto and blockchain regulations to keep pace with global advancements, according to Prime Minister Datuk Seri Anwar Ibrahim. During a visit to Abu Dhabi, he mentioned proposing months ago that agencies, including the treasury, security bodies, and Bank Negara, explore the sector to ensure Malaysia stays competitive.

Wednesday 

*Bitcoin has climbed near the $100,000 mark, trading at $99,442 after gaining 3.5% on Wednesday. The surge comes amid a slowdown in key inflation indicators and a recovery in the stock market.

*Wall Street welcomed a surprise drop in inflation, which sparked a stock market rally and a sharp decline in bond yields. The development strengthened expectations that the Federal Reserve will continue reducing interest rates this year.

*UK government bonds surged after data revealed a drop in Britain’s inflation for December, alleviating concerns about prolonged price pressures that have unsettled the nation’s assets. The yield on 10-year gilts declined by 16 basis points to 4.74%, marking the largest drop since 2023. Gains were further supported by a lower-than-expected US inflation report.

Tuesday

*The commodities sector has seen record trading volumes, particularly in energy derivatives, driven by geopolitical factors. In equities, mixed performances are observed, with U.S. markets awaiting key inflation data and bank earnings.

*Stocks climbed after an unexpected easing in wholesale inflation provided some relief to investors ahead of Wednesday’s crucial consumer price index report. The equity market rebounded, recovering from a drop that had pushed the S&P 500 to its lowest level since election day. Meanwhile, the bond market showed signs of steadying following a recent spike in yields driven by speculation that persistent inflation might limit the Federal Reserve’s ability to cut interest rates this year.

*initial optimism post-U.S. elections was tempered by hawkish Federal Reserve signals, leading to a decline in fund inflows, although Bitcoin showed resilience. The U.S. economy’s robust labor market and unexpected job growth complicate the Federal Reserve’s interest rate decisions.

Monday

*Last week, cryptoassets rebounded from oversold levels as selling pressure linked to Bitcoin ETFs eased and corporations increasingly adopted Bitcoin as a treasury asset. A key factor in the recovery was the growing trend of companies incorporating Bitcoin into their corporate treasury strategies. Over the past week, seven companies announced plans to either adopt a Bitcoin standard or expand their BTC holdings.

*The 30-year US yield increased by up to four basis points, reaching 4.85%, its highest point since November 2023, ahead of a $58 billion sale of three-year notes on Monday. Additionally, the Treasury plans to auction 10-year notes on Tuesday and 30-year bonds on Wednesday, both scheduled a day earlier than usual due to the state funeral of former President Jimmy Carter on Thursday.

*A Bloomberg index tracking the US dollar trimmed its earlier decline of up to 1% by half after Trump refuted a Washington Post report suggesting he might consider imposing tariffs on all nations, restricted to certain critical imports. With roughly two weeks remaining before his inauguration, Wall Street has been analyzing the potential economic effects of the incoming administration’s proposed policies.

*Most major sectors within the S&P 500 posted gains, with Nvidia Corp. leading the charge among megacap stocks. Optimism surged ahead of CEO Jensen Huang’s highly anticipated speech on Monday, fueling expectations for a potential breakout in the company’s shares. Meanwhile, the yield on US 30-year bonds reached its highest level since late 2023 as the Treasury market braced for $119 billion in new government debt issuance this week.