Trump’s Inaugural Address Doesn’t Include Crypto
President Donald Trump didn’t mention Bitcoin or crypto assets in his inaugural speech. This omission caused Bitcoin to fall from $109,000 to around $100,000. Unlike the previous administration, Trump promised a crypto-friendly policy, but no announcement was made about the strategic Bitcoin reserve. Ahead of the speech, positive expectations were high among crypto supporters, but crypto was not among the GOP’s priorities. On the other hand, Trump’s previous pro-crypto appointments and memecoin initiatives show that he continues to be interested in this area.
Caroline Pham to be Interim Chair of the CFTC
President Donald Trump has appointed Caroline Pham to be the interim chair of the U.S. Commodity Futures Trading Commission (CFTC). Pham, a former Wall Street banker and Republican commissioner who works on digital asset policy, is taking over at a critical time when the agency could have a leading role in crypto regulation. Pham noted that legislation aimed at regulating spot markets for digital assets like Bitcoin and Ethereum could give the CFTC significant authority. His appointment is seen as a reflection of the Trump administration’s crypto-friendly policies. Pham will lead the CFTC until a permanent chair is appointed.
World Liberty Makes $90 Million Crypto Move
Trump-backed DeFi protocol World Liberty Financial swapped about $90 million worth of USDT and USDC stablecoins for tokens like Ethereum (ETH), Chainlink (LINK), Ethena (ENA), and TRON (TRX). The transactions were made in blocks of $470,000 and $4.7 million via the CoW Swap platform. The move comes after it raised $300 million from the WLFI token sale. TRON founder Justin Sun’s announcement that he will invest another $45 million has increased interest, while the project team is aiming to raise an additional $250 million by offering an additional 5 billion WLFI tokens for sale. World Liberty’s total assets include $171.3 million in ETH and $20.5 million in Wrapped Bitcoin (WBTC).
Ethereum Foundation Considers Staking $1 Billion in ETH
The Ethereum Foundation has considered staking its $1 billion ETH holdings and evaluating DeFi opportunities. The foundation has been criticized for funding its operations solely through ETH sales. Vitalik Buterin stated that the decision not to stake was due to past regulatory challenges, but that these issues have subsided. He also emphasized that the need to remain neutral in controversial hard forks is a key priority for the foundation. With the criticism and the change of management, the foundation aims to strengthen its ties with the Ethereum ecosystem by taking a more active role.
Elon Musk and DOGE Sued After Trump’s Inauguration
The Department of Government Efficiency (DOGE), founded by Elon Musk and Vivek Ramaswamy, was sued immediately after Donald Trump’s presidential inauguration. The lawsuit, filed by the law firm National Security Advisors, alleges that DOGE violated the Federal Advisory Committee Act (FACA). The charges include lack of proper hiring, transparency, and registration processes. FACA requires presidential advisory committees to adhere to fair representation and transparency standards. The lawsuit states that DOGE is acting as an official advisory committee and is not in compliance with federal rules.
Rumble Made Its First Bitcoin Purchase
Video-sharing platform Rumble made its first Bitcoin purchase after adopting Bitcoin as a strategic reserve asset. CEO Chris Pavlovski said this move was the start of Rumble’s crypto strategy, with more Bitcoin purchases to come in the future. The company announced a $20 million Bitcoin investment plan in November 2024. Rumble’s move comes in line with growing institutional interest and confidence in Bitcoin’s resistance to inflation.
Saylor and Marathon Meet with Trump Team for Bitcoin Reserve
MicroStrategy CEO Michael Saylor and Marathon Digital executives met with President Donald Trump’s cabinet to discuss Bitcoin mining and reserve strategies. The meeting indicates that President Trump supports the US’s vision of strengthening Bitcoin mining and creating a national Bitcoin reserve. MicroStrategy has a reserve of 450,000 BTC and Marathon Digital has a reserve of 44,893 BTC, making these two companies leading players in the industry. Trump’s plans aim to make the US a leader on the global Bitcoin stage and increase economic resilience.
——————————————————————————————
BITCOIN (BTC)
BTC is priced at $102,102 as of the morning hours, down 0.15%. It is noteworthy that the price encountered strong resistance in the 106,000-107,000 region and experienced a sharp pullback from this level. The first critical support area is between 100,000-99,000, and this area stands out as a strong demand area where the price can recover during the decline. If this support area is broken, it is thought that the price may make a deeper correction and seek support at lower levels. In the upward movements, the first important resistance that the price may encounter is in the 106,000 – 107,000 region. If this level is exceeded, the price may enter a new uptrend and target the 110,000 level.
ETHEREUM (ETH)
ETH is priced at $3,245 with a 1.14% gain as of the morning hours. The first important support area is between 3,220 – 3,246 and the price is currently trading close to this level. While a reaction increase can be expected from this level, the 3,050 level below stands out as a strong support. If this level is tested, buyers can be expected to step in. In upward movements, the first strong resistance stands out as the green zone between 3,350 – 3,450 and this area is considered an area where the price may encounter strong selling pressure. Above, the 3,550 level stands out as a critical resistance point and exceeding this level may be an important signal for the price to enter a new uptrend. Whether the price can maintain the 3,220 support level plays a critical role in terms of the direction of the trend. An upward breakout may allow the price to test the resistance levels, while a downward breakout may increase the risk of a pullback towards the 3,050 support.
RIPPLE (XRP)
XRP is priced at $ 3,092 as of the morning hours with a 0.41% loss in value. While the price creates a limited resistance zone with the 3,200 level above, it finds support at the 2.8716 and 2.7220 levels below. The first support zone, the 2.8716 level, is an area where the price sees strong demand, and maintaining this level is of critical importance for the continuation of the upward movement. Further down, the 2.7220 level stands out as the next support point, and if this level is broken, the price may experience a deeper correction and retreat to lower support zones. The blue support zone at the 2.400 level stands out as an area where strong buyers can step in. In upward movements, the 3.200 level appears as a strong resistance, and although the price has tested this level many times, it has not yet managed to hold on above it. In the event of a close above the 3.200 level, the price can be expected to reach psychological levels such as 3.400 and 3.500. The price is currently trading within a range and has not determined a clear direction. Breaking the 3,200 level could confirm the continuation of an upward trend, while closing below the 2.8716 support could indicate the beginning of a downward trend.
AVALANCHE (AVAX)
AVAX is traded at $35.13 with a 0.90% increase in value as of the morning hours. It is observed that it is moving downwards due to the selling pressure coming from the resistance zone at 42.06. The sales formed at this level have caused the price to break the 37.67 support and fall to the 35.21 level. In upward movements, the 40.30 and 42.06 levels stand out as strong resistances. In particular, the 42.06 level is a critical barrier that must be overcome for the price to recover. In case the downward movements continue, the 32.95 level stands out as an important support point. This level can be evaluated as a region where buyers can concentrate. In the current situation, whether the price can retest the 37.67 level and hold above this level will be decisive in terms of the direction of the trend.
SOLANA (SOL)
SOL is priced at $237.90 with a 1.83% loss in value as of the morning hours. In upward movements, the 245.52 level appears as a strong resistance. If this level is exceeded, the price can be expected to regain upward momentum and move towards the upper resistances. In possible downward movements, breaking the support level at 229.30 may cause increased selling pressure. In this case, the 201.83 level stands out as a support area where buyers can step in. In the current situation, the price seems to have entered a correction phase after the uptrend and is looking for a new direction. If the price recovers by maintaining the 229.30 level, it must close above 245.52 for the continuation of the upward movement.
