Somber Crypto Market Eyes' progress in U.S. bitcoin reserves

The cryptocurrency market has become gloomy, with trading as low as 3% for major cryptocurrencies such as Bitcoin (BTC), Ether (Eth), Solana (Sol) (Sol), Binance Coin (BNB) and Chainlink (Link) To 3% create progress on U.S. strategic BTC reserves and signs of tightening of dollar liquidity.

Macro trader Geo Chen, author of the popular alternative newsletter Fidenza Macro, advised Trump to step in and “buy everyone’s bags” to stick with the market, but this is unlikely to happen anytime soon. As a result, the market is vulnerable to risk aversion driven by ongoing tariff discussions.

“Crypto will not be spared from the risk fluctuations that come with it, and I hope many coins will be reduced by 50% or more from their January highs. I have limited orders to buy some of my favorite coins like SOL, for less than half the price, Chen wrote.

Speaking of SOL, Amberdata's option block Flow Tracker reveals a pretty considerable bear market spread involving a long position on the premise of $200 and a shorter position on the premise of $120, both in February Expired on the 28th. The strategy is betting at least $120 to one month. - End, reflecting an increasingly pessimistic prospect.

Emotion remains bearish on the ether. ETH has fallen 15% this month, reaching its lowest level for Bitcoin in four years. Joe McCann, founder and CEO of Asymmetric, noted, “The basic positioning of Ethereum is weakening. Solana’s ecosystem is rapidly expanding, providing higher throughput and stronger performance. , making it difficult to reasonably make Ethereum’s historical valuation high-quality.”

He noted that Ethereum's 2-layer scaling solutions (optimism, arbitration and polygons) all fell by more than 50% this year. “This shows that the struggle is wider because L2 should drive ETH adoption and use, but they do not generate sustained momentum.”

On the macro side, amid the threat of a potential trade war, investors pointed to gold and the U.S. Treasury Department that it pushed gold to a new high of $2,877 an ounce, a 10% increase this year. Historically, people's preference for gold has disliked Bitcoin.

It seems that this is not enough, the yield rise in Japanese government bonds has reached its highest level since April 2011. In addition, the U.S. ADP employment report that expires today may inject further volatility into the market. Now it’s time to stay alert!

February 6: Berachain (Bera) Mainnet launch.

February 6, 8:00 am: Shentu chain network upgrade (v2.14.0).

February 13: Kraken gradually launches EEA customers of USDT, Pyusd, Eurt, Tusd, Ust Stablecoins. The process ended in March. 31.

February 18, 10:00 a.m.: FTX Digital Markets, a subsidiary of FTX, will begin reimbursement of creditors.

Macro

February 5, 9:45 a.m.: S&P Global releases January's US Services PMI (final) report.

Est. 52.8 vs. Previous. 56.8

February 5, 10:00 a.m.: The Institute of Supply Management (ISM) released its January service ISM business report.

PMI service is. 54.3 and previous one. 54.1

Service business activity previous article. 58.2

Service employment last one. 51.4

Service new order. 54.2

Service price above. 64.4

February 5, 10:00 a.m.: U.S. Senate Banking Committee hearing “Investigate the Real Impact of U.S. withdrawal”, which includes Nathan McCalley, co-founder and CEO of Anchorage Digital ( four witnesses, including Nathan McCauley. Live link.

February 5, 3:00 pm: Federal Reserve Governor Michelle W. Bowman delivered a speech as “Short Economic Updates and Banking Regulation.”

February 6, 7:00 a.m.: The Bank of England (BOE) released a summary of the monetary policy and minutes of the Monetary Policy Committee meeting and a report on the Monetary Policy for February. Thirty minutes later, the press conference was broadcast live.

Interest rate decision. 4.5% with the previous one. 4.75%

February 6, 8:30 a.m.: The U.S. Department of Labor released the Unemployment Insurance Weekly Claim Report as of February 1.

Initial unemployment claim EST. 213k and the previous article. 207K

Non-agricultural productivity QOQ (Preliminary) EST.1.4% vs. Previous article. 2.2%

Continue unemployment claims (January). 1870k and previous article. 1858k

Unemployed people claim to be a 4-week average pre-list. 212.5k.

February 6, 2:00 pm: The U.S. House Financial Services Committee heard a hearing on "Operation Choce Point 2.0": Two witnesses were Coinbase's chief legal officer Paul Grewal and Mara Holdings' CEO Fred Thiel.

February 6, 2:30 pm: Federal Reserve Governor Christopher J. Waller speaks at the Atlantic Commission in Washington. Live link.

income

February 5: MicroStrategy (MSTR), aftermarket, $ -0.09

February 10: Canaan (CAN), pre-market, $ -0.08

February 11: Hive Digital Technologies (Hive), Aftermarket, $ -0.11

February 11: Exodus Movement (Exodus), aftermarket, $0.14 (2 ests.)

February 12: Hut 8 (Hut), preliminaries, harvest

February 12: Iren (Iren), aftermarket

February 12 (TBA): Metaplanet (Tyo: 3350)

February 12: Reddit (RDDT), aftermarket, $0.25

February 12: Robidin Market (Hood), Aftermarket

February 13: CleanSpark (CLSK), $ -0.05

February 13: Coinbase Global (coin), aftermarket, $1.61

Governance voting and phone calls

Lido Dao is distributing rewards to LDO Stakers based on the agreement’s net income discussions and using a percentage of its annual revenue to repurchase LDO tokens.

February 5 at 10:00 a.m.: LivePeer (LPT) holds a Treasury speech on “Ministry of Finance Funds for SPE Update, Governance and AI Video Projects.”

February 5, 11:00 am: USDX and Arbitration, Ask me for anything (AMA) meeting.

February 6: The arbitration will hold a public appeal for applications for decentralized financing using AI authorization.

Unlock

February 5: XDC Network (XDC) unlocks a 5.36% cycle supply, worth $81.58 million.

February 5: Kaba (KAS) unlocks 0.67% of the cycle supply, worth $17.29 million.

February 9: Mobile (mobile) to unlock a 2.17% recycle supply, worth $31.84 million.

February 10: Aptos (APT) unlocks a 1.97% revolving supply, worth $69.78 million.

Token release

February 6: Berachain (Bera) will be conducted on BYBIT, BINGX, MEXC and KCOIN.

Day 2, 2 days in total: The 14th Global Blockchain Congress (Dubai)

February 6: Ondo Summit 2025 (New York).

February 7: Solana Apex (Mexico City)

February 13-14: The fourth edition of Paris NFT.

February 18-20: Hong Kong Consensus

February 19: Sui Connect: Hong Kong

February 23 to March 2: 2025 Ethdenver (Denver, Colorado)

February 25: Hederacon 2025 (Denver)

Francisco Rodrigues

Solana Memecoin Juggernaut Pump.Fun’s monthly revenue hit an all-time high in January, bringing in $121.3 million in revenue, and the platform is said to affect “the destruction of Altcoin Market.”

According to Miles Deutscher's analysis, he noted that speculative capital that could have poured into major Altcoins during the "ALT season" of the cycle was incorporated into the low-capitalization tokens on the platform. This quickly lost most of their value.

However, the high-profile Altcoin debut also led to a significant decline given the industry's risk and volatility. Lookonchain noted that one trader lost $2.6 million due to concerns about missing out on Venice.AI's VVV tokens, while another businessman lost $21 million for memorabilia by Donald Trump Dollar.

Even Altcoin, which has the largest market capitalization, has returned to merger levels, and Bitcoin, with excellent performance, the ETHBTC ratio has dropped below 0.03 for the first time since 2021.

Meanwhile, Pump.Fun's success still outperformed the second-largest stable USDC issuer Circle, according to Defilama's data, with revenue of 24 hours.

XLM, TON, SHIB, BCH and ONDO remain negative, suggesting a bias in the shorts. These tokens may see a brief squeeze of BTC emerging, thus recovering the adventure in the crypto market.

Over the past 24 hours, SHIB's OI normalized cumulative volumes have been positive, suggesting potential buying pressure.

BTC, CME's ETH futures base is still close to 10%.

BTC and ETH the day before yesterday continued to show bias against pre-bearing options. The ETH putter is still higher than what BTC has proposed.

BTC fell 0.35% from Tuesday at 4pm, $97,862.66 (24 hours: +1.08%)

ETH rose 2.4%, $2,2,783.87 (24 hours: +0.86%)

Coindesk 20 fell 0.34% to 3,286.48 (24 hours: -1.41%)

The combined discharge rate of CESR fell by 73 basis points to 3.18%

BTC's financing rate is 0.0011% (age is 1.21%)

DXY fell by 0.5% at 107.42

Gold rose 0.9% at $2,868.45/oz

Silver rose 0.15% to $32.37/oz

Nikkei 225 closed at 38,831.48

Hang Seng closed at 20,597.09 -0.93%

FTSE's unchanged to 8,571.57

EURO STOXX 50 fell 0.21% to 5,253.52

DJIA closed +0.3% on Tuesday at 44,556.04

S&P 500 closes +0.72%, at 6,037.88

Nasdaq closes +19,654.02 1.35%

S&P/TSX composite index closed +0.15%, at that time 25,279.35

S&P 40 Latin America Close +1.06% of 2,401.76

The U.S. Treasury Department fell 3 basis points in 10 years to 4.48%

E-Mini S&P 500 futures fell 0.52% at 6,031.75

E-Mini NASDAQ-100 futures fell 0.88% to 21,479.25

E-Mini Dow Jones Industrial Average Futures fell 0.18% at 44,615.00

BTC Advantage: 61.24 (-0.21%)

Ethereum to Bitcoin Ratio: 0.02833 (1.43%)

Hash (7-day moving average): 817 EH/s

HashPrice (spot): $56.3

Total Cost: 5.03 BTC / $509,298

CME Futures Open Interest: 168,549

BTC price in gold: 33.9 oz

BTC and gold market cap: 9.64%

The U.S. fiscal 10-year fiscal yield is about to violate the five-month bullish trend line.

Continuous slides can support risky assets.

MicroStrategy (MSTR): Closed on Tuesday, at $348.31 (+0.35%), down 0.9% and sold for $345.05.

Coinbase Global: Closed at $280.39 (-1.41%), down 0.14% and sold for $280.

Galaxy Digital Holdings (GLXY): Chaable is closed at CAD 27.67 (-1.25%).

Mara Holdings (Mara): Closed at $17.65 (-1.67%), down 0.45% to $17.57 pre-sale.

RIOT Platform (RIOT): Closed at $12.29 (+2.5%), down 0.41% at $12.24 before pre-sale.

Core Science (CORZ): Closed at $12.21 (-0.97%).

CleanSpark (clsk): The closing price of $10.84 (+2.36%) fell 0.65% to sell for $10.77.

Coinshares Valkyrie Bitcoin Miner ETF (WGMI): Closed price is $22.57 (-0.53%).

Semler Scientific (SMLR): Closed at $51.24 (+1.55%), down 2.01% in advance.

Exod: Closed at $56.77 (-4.73%), with the previous market up 5.69%.

SPOT BTC ETF:

Daily Net Flow: $340.7 million

Cumulative Net Flow: US$40.6 billion

The total BTC holdings are ~117.3 billion.

Point ETH ETF

Daily Net Flow: $307.8 million

Cumulative Net Flow: US$3.15 billion

The total ETH holdings are ~3.693 billion.

Source: Farside Investors

The dollar index (DXY) tracks the value of the U.S. currency against its main trading partners. The question is, will Bitcoin follow suit?

Both assets soared in the weeks leading up to and following the U.S. election in early November.

Citi said the stock-Crypto relationship is likely to weaken: cryptocurrencies may fall in equities, and helps reduce volatility in bitcoin as institutions adopt and upcoming U.S. regulations.

Bitcoin has the potential to lose $90k-$110k price as these three developments could put the next bull breakout (Coindesk) brakes: Bitcoin’s ConsolidationFaces Fearkes the Beading to Trange Gollar liquidity, a cautious approach to Trump Administration, The cautious approach to BTC reserve and the weakened Bullish Moment Momentm Momkum Momkum Momkum Momkum Momkum Moment Moment Momkum Moment Moment Momkum Moment Moment Momkum Moment Moment Momkum sightum.

Ondo Finance unveils the tokenization platform brings stocks, bonds and ETFS OnChain (Coindesk): Ondo Finance, the leader issuer of tokenized real-world assets, aims to unveil a tokenization platform designed to serve us Public securities provide stablecoins publicly traded securities.

Last year, the demand for gold worldwide hit another record high. Demand for gold bars remains the company (CNBC): With gold prices hitting record highs, the World Gold Council reported global demand reached 4,974 tons in 2024, which is purchased by central banks and for gold ETFs and bars Strong demand driven.

EU prepares to retaliate against Donald Trump's tariffs (Financial Times): Officials say EU can use "anti-stubborn instruments" proposed by Trump in his first semester Retaliation, although the group is unlikely to be able to respond quickly with Canada and Mexico.

The U.S. Postal Service suspends shipments for Chinese parcels (Wall Street Journal): The U.S. Postal Service said it will not accept inbound parcels from mainland China and Hong Kong until further notice, which could affect Chinese online merchants (such as Shein and Temu).