Mt. Gox’s 24,000 BTC Transfer
Defunct cryptocurrency trading platform Mt. Gox transferred around 24,000 BTC (worth $2.4 billion) to an unidentified wallet after Bitcoin surpassed the $100,000 level for the first time. The transaction, which was tracked by Arkham Intelligence, was reported by Mt. Gox It was the first major fund movement since November 12, 2024. It is unclear whether this transfer is part of the repayment to creditors, but similar transfers have occurred in the past before distributions via centralized exchanges. Mt. . Gox has been postponing its repayment dates, with the last repayment date being extended to October 2025. Bitcoin is up nearly 7% at $102,952 following positive US election results.
Crypto Trading Volume in South Korea Surpasses $34 Billion, Breaking Record Amid Crisis
South Korea broke a record with $34.2 billion in crypto trading volume in 24 hours. Meanwhile, martial law was declared in the country, but it was soon revoked by unanimous vote of the parliament. Upbit, the country’s largest crypto asset trading platform, accounted for $27.25 billion of this volume The $34 billion volume nearly doubled the $18 billion daily volume from just two days ago and was the highest single-day trading volume this year.
Fed Chair Powell: “Bitcoin Is Like Digital Gold”
The US Federal Reserve (Fed) Chairman Jerome Powell likened Bitcoin to digital gold, and drew attention to its high volatility and its function as a speculative asset rather than a payment method. Speaking at The New York Times DealBook Summit, Powell said Bitcoin’ He stated that the dollar is not a rival, but a rival to gold. Powell emphasized that interactions between crypto and banks should not threaten financial stability, and stated that the Fed does not directly regulate crypto. Meanwhile, the new US President Donald Trump, who is seen as pro-crypto, is a crypto-friendly Paul Atkins was appointed as SEC chairman, boosting optimism in the industry. Bitcoin surged past the $100,000 mark after the presidential election, bolstering market confidence.
TRX Breaks Record with 85% Increase in One Day
TRON’s TRX token has seen a one-day surge of 85%, hitting an all-time high of $0.43, driven by Justin Sun’s involvement in a Trump-backed DeFi project. The token’s market cap has risen from $19 billion to $36.7 billion in 24 hours. TRX, which has increased by 140% in the last 30 days and 280% since the beginning of the year, made a big leap despite the stagnation in the crypto market.
Austin Federa’s New Project
Former Solana Foundation Strategy Lead Austin Federa has left his position after four years to found DoubleZero, a new protocol aimed at managing high-performance, permissionless networks. DoubleZero is an innovative blockchain platform that aims to increase blockchain scalability, expand bandwidth, reduce latency, and address communication bottlenecks. is introducing an “N1” global base layer network. The network will use dedicated fiber and subsea cables and will provide filtering and verification services via open source hardware to optimize transactions. While its initial focus is Solana, DoubleZero aims to provide support for all high-performance blockchains and It also aims to be used in training large language models with online gaming. The project was co-founded by Andrew McConnell and Mateo Ward, with Firedancer and Malbec Labs as the main contributing teams.
Putin: “Bitcoin and Crypto Assets Cannot Be Banned”
Russian President Vladimir Putin has stated that Bitcoin and crypto assets cannot be banned and will inevitably continue to develop due to their cost-effectiveness and reliability. Speaking at the Russia Calling conference, Putin stressed that digital payment technologies will advance regardless of the state of the US dollar. Last week; Putin said that crypto assets Russia has signed a law recognizing it as a property and considering it as an experimental legal regulation for foreign trade. The move is part of a strategy to bypass Western sanctions imposed after the invasion of Ukraine. Russia is also working on a central bank digital currency, which is expected to be launched in July 2025. unit (CBDC) project is also advancing.
There Were Layoffs at Foundry!
American Bitcoin mining firm Foundry has laid off 16% of its workforce, including a small team in India. The company, owned by Digital Currency Group (DCG), has made a strategic move to focus on core Bitcoin mining pool operations and site development. The Foundry joins other major crypto companies such as Consensys and Kraken in reducing staff due to regulatory uncertainty and the rising costs of mining operations. While mining revenues have increased, the industry faces challenges due to increasing difficulty levels and operational expenses. However, mining companies’ stocks significant increases in values were observed.
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BITCOIN (BTC)
BTC is priced at 103,000 with a value gain of approximately 4.68% as of the morning hours. It is seen that the price gained strong upward momentum by rising to 103,208. This movement occurred when the price voluminously exceeded the red resistance zone in the 98,000 – 100,000 band, which it has been testing for a long time. This resistance zone can now act as support. The price quickly reached the 103,000 level after the upward breakout, indicating that the market buyers are dominant and the momentum continues. When examining other important support levels on the chart, the green box around 93,283 is seen as a strong demand zone. stands out. Maintaining this level is critical for the continuation of the upward trend. Further down, the 86.628 level stands out as another support that could be tested in a deeper pullback.
ETHEREUM (ETH)
ETH is priced at $3869 with a 0.77% increase in value as of the morning hours. It is seen that the price gained strong momentum by rising to the level of 3,862. The price is approaching the 3,900 – 4,100 area marked with an orange box on the chart. This area is considered a strong resistance area. stands out and how the price will react at these levels should be watched carefully. In a possible downward correction movement, the levels of 3,671 and 3,613 stand out as short-term supports. These levels stand out as the upper limits of the previous horizontal consolidation and the price can be expected to react from here. More In a deep pullback, the 3,443 level and the area marked with the green box just below should be monitored as an important demand area. If the upward movement continues, closing above the 3,900 level could allow the price to rise above the 4,000 level and target higher peaks. In this case, The 4,100 level stands out as the main short-term resistance.
RIPPLE (XRP)
XRP is priced at $2.3050 as of the morning hours, down 2.22%. Closing the past two days in the negative, XRP started the new day in the negative. With the decline since the peak level, it is just above the support level of 2.2922 in the morning hours. If it cannot hold on to this support level, the first As a support, 2.1409 and then 1.9571 – 1.85 dollar band can be expected to work. In a possible positive movement, candle closing above 2.2922 will be important. Then, 2.4880 and 2.7825 dollar levels can be expected to work as resistance. It is important for investors to carefully monitor the determined critical support and resistance levels.
AVALANCHE (AVAX)
AVAX is priced at $51.40 with a 2.54% loss in value as of the morning hours. AVAX, which faced selling pressure after rising to $55 yesterday, encountered purchases from the green zone on the chart, which is the support zone, in the morning hours. If the negative movement continues, the $50.45-$48.25 band will be the support In position. If these levels are broken, a pullback to $45.80 levels may be seen. In case of a possible positive trend, $52.45 and then $54.69 levels may work as resistance. It is important for investors to carefully monitor the critical support and resistance levels determined.
SOLANA (SOL)
SOL is priced at $233.75 with a 2% increase in value as of the morning hours. For SOL, which is moving just above the resistance zone, it will be important for it to make daily closings above 233.34 in order to continue its positive trend. Then, 245.45 can work as resistance. Above this level, $259.94 is the next Our resistance level. In case of possible negative movement, the critical support zone is 233.34 – 229.50. If these levels are broken, a decline to $ 221.68 may occur. Therefore, it is important for investors to carefully monitor the determined critical support and resistance levels.
