Price Action:
Bitcoin rose from $101,480 to $105,090, peaking at $106,800 but facing resistance at $108,276. Low funding rates and short liquidations signal cautious optimism, with potential for new highs if the 50-day moving average holds.
Ethereum edged up from $3,207 to $3,249, peaking at $3,296. Stable funding rates suggest balanced sentiment, with potential for a breakout above $3,663 or a decline toward $3,081 support.
Notable movers: XCN (-18.8%), SWFTC (+38.8%), SOL (+4.4%), ONDO (+11.2%), HBAR (+7.2%).
Friday
- Trump signed an executive order establishing a cryptocurrency working group to propose new regulations and explore a national stockpile of digital assets.
- The S&P 500 closed at its first record high of 2025, gaining 0.5%, driven by strong earnings and support for tax cuts and deregulation.
- Technology leaders announced a $500 billion investment in artificial intelligence infrastructure to bolster innovation and economic growth.
- ChatGPT faced a large-scale outage, with thousands reporting issues worldwide, highlighting challenges in maintaining AI services.
- David Balland, co-founder of French crypto firm Ledger, and his partner were kidnapped and held for ransom in cryptocurrency but were released after police intervention.
- Apple is under investigation by the Democratic Republic of Congo for allegedly profiting from “blood minerals,” raising concerns about its supply chain ethics.
- Trump criticized oil producers for high prices during a video address at Davos and proposed tariffs on non-U.S. goods, impacting oil prices and coal shares.
Thursday
* BlackRock CEO Larry Fink predicted Bitcoin could reach $700,000 if funds allocate 2% to 5% of investments into cryptocurrency.
* Israeli forces continued a major operation in Jenin, with at least 10 Palestinian deaths and over 40 injuries reported.
* Elon Musk criticized the newly announced ‘Stargate Project,’ claiming its $100 billion investment is not genuinely secured.
* Donald Trump’s cryptocurrency, $TRUMP, sparked concerns over ethical and geopolitical implications.
* Howard Lutnick, nominated for Secretary of Commerce, raised concerns due to his ties to cryptocurrency, especially stablecoin Tether.
Wednesday
- Trump’s First Day: President Trump signed executive orders rejoining the WHO, ramping up border security, and initiating military deployment to the southern border.
- World Economic Forum: German Chancellor Scholz emphasized Ukraine’s victory in Davos; Zelenskyy called for stronger military investments.
- Stock Market Gains: Dow rose 538 points; Apple shares dropped over 3% due to downgrades.
- AI Infrastructure Investment: Trump announced a $100B-$500B AI project, ‘Stargate,’ with OpenAI and SoftBank.
- Apple Under Investigation: The DRC investigates Apple for alleged use of conflict minerals in supply chains.
- SEC Crypto Task Force: The SEC launched a new group to develop a regulatory framework for digital assets.
Tuesday
- Trump’s Inauguration: Donald Trump sworn in as the 47th U.S. President; withdrew the U.S. from the Paris Agreement and WHO, and issued over 1,500 pardons. To everyone’s surprise, no cryptocurrency input was provided.
- Trade Tariffs: Trump threatened tariffs on Canada, Mexico, the EU, and China, demanding TikTok’s partial sale to a U.S. firm.
- Davos Forum: The World Economic Forum was overshadowed by Trump’s inauguration, affecting discussions on U.S. policy shifts.
- Fed Policy: The Federal Reserve exited the NGFS, raising concerns about global climate-finance cooperation.
- CEO Optimism: 60% of global CEOs are optimistic about growth in 2025, despite inflation and volatility concerns.
- Bitcoin Surge: Bitcoin hit $109,000 on optimism over Trump’s potential crypto policies.
- New Cryptos:
* $TRUMP Coin: Launched at under $10, peaked at $75, then dropped 48%, with $28M liquidated.
* $MELANIA Coin: Launched at $10B market cap, causing $TRUMP to drop 40% before partial recovery to $11.7B.
Monday
Stocks struggled to maintain momentum after a solid rally, while bond yields declined following dovish comments from Federal Reserve Governor Christopher Waller. The S&P 500 experienced slight losses, with the Nasdaq 100 dropping 0.5%. The U.S. 10-year Treasury yield rose to 4.57%, a level last seen in May. Waller indicated that the Federal Reserve could lower rates again in the first half of 2025 if inflation data continues to be favorable, and he did not entirely rule out a cut in March.