Bitcoin Turns 16!
Since its creation by Satoshi Nakamoto 16 years ago, Bitcoin has transformed from an experimental digital currency into a trillion-dollar asset. Today, at $100,000, Bitcoin is the seventh most valuable asset with a value of $1.92 trillion.
BlackRock’s Bitcoin ETF Hits Record Withdrawals
BlackRock’s iShares Bitcoin Trust (IBIT) fund saw record withdrawals of $332 million in a single day on Jan. 1, bringing total weekly outflows in U.S. spot Bitcoin ETFs to $650 million. While IBIT continues to lead, rival ETFs gained with total inflows of $108 million. While the fund’s three-day total outflow was $392 million, IBIT continues to lead the market with around 552,000 BTC. IBIT, which has been outperforming throughout 2024, was ranked third on Bloomberg’s list of the best ETFs of the year. The fund’s future flows will depend on increasing competition and market conditions.
Morgan Stanley’s E-Trade Unit Prepares for Crypto Trading
Morgan Stanley’s subsidiary E-Trade plans to offer crypto trading, but the move would require approval from regulators such as the Federal Reserve. The company was motivated by expectations of Donald Trump’s crypto-friendly policies. E-Trade’s involvement could bring capital and legitimacy to the sector by increasing interest from individual and institutional investors. Similarly, Charles Schwab has said it will consider crypto trading if regulatory conditions become favorable. These developments could fill the gap between traditional and digital finance while increasing competition in the crypto market. The Trump administration’s regulatory improvements and new crypto ETF approvals are expected to give the sector a boost in 2025.
SEC Approval Expected for Solana ETFs
Polymarket estimates a 78% probability of Solana (SOL) ETFs receiving SEC approval in 2025. While five asset managers, including Grayscale and VanEck, have filed for Solana ETFs, regulatory uncertainty remains due to the SEC’s classification of SOL as a security. Analysts believe that the SEC leadership change expected in 2025 could play a critical role in approving Solana ETFs and other crypto-related financial products. Despite the growing optimism, approval timelines remain uncertain, with polls suggesting a 57% probability of approval before mid-2025. The recent filings for Solana futures ETFs are building positive momentum despite existing regulatory hurdles.
China Tightens Crypto Cluster
China has introduced new regulations to clamp down on risky foreign exchange transactions and crypto-asset-related activities. The China Foreign Exchange Administration has ordered banks to monitor and report suspicious transactions involving cross-border gambling, underground financial networks and unauthorized crypto trading. The new rules require tracking of individuals’ and organizations’ identities, sources of funds and trading patterns. The move reflects China’s efforts to maintain financial stability while increasing pressure on crypto. On the other hand, reports acknowledging Hong Kong’s leadership in crypto regulation and court rulings that crypto ownership is legal underscore the country’s cautious approach to the sector.
MiCA Impact on Tether Market: Market Value Drops
Tether’s USDT stablecoin saw a sharp 1.1% drop in market value due to MiCA regulations in Europe. This is the biggest drop since the FTX crash. The delisting of USDT by European exchanges has limited impact on the global market due to the heavy trading volume in Asia and the US. While experts argue that the regulations could negatively impact digital asset innovation in Europe, Tether is reportedly investing in MiCA compliance. This development has brought the impact of regulation in the crypto market back into the spotlight.
Jordan Modernizes Public Services with Blockchain
Jordan aims to modernize public services, increase transparency, ensure data security, and support blockchain initiatives by approving the 2025 Blockchain Policy. The policy aims to streamline government processes, reduce costs, and provide more efficient services to citizens. It also includes plans to develop blockchain expertise, support local initiatives, and accelerate digital transformation.
Blockchain technology will reduce corruption risks by providing transparency, increasing accountability, and attracting foreign investment, making Jordan more competitive in the global digital economy. However, the success of this transformation will depend on the development of digital infrastructure and public-private sector cooperation.
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BITCOIN (BTC)
BTC is priced at $ 96,732 as of the morning hours with a 0.26% loss in value. In upward movements, the next critical resistance level appears to be 99,540. If this level is exceeded, the 103,631 level can be followed as the next strong resistance. In a possible downward correction, the 95,815 level stands out as the first support. If a break below this level occurs, the 92,232 level can be tested as support. Also, whether the price can hold on at current levels will depend on the overall market momentum and trading volume.
ETHEREUM (ETH)
ETH is priced at $ 3,454 as of the morning hours with a 0.02% gain in value. The price seems to have managed to stay above the 3,330 support and has entered a horizontal consolidation process. In upward movements, the 3,560 level can be monitored as the first resistance. In case of exceeding this level, the 3,829 level stands out as a strong resistance area. In case of a downward break, the 3,330 level stands out as a critical support area. In case of falling below this level, the 3,270 level can be tested. The current price action shows that the market is having difficulty determining direction and the trading volume is low.
RIPPLE (XRP)
XRP is trading at $2.4385 with a 1.52% increase in value as of the morning hours. After a 3-day rising streak, XRP, which started the new day positively, seems to have encountered purchases from the $ 2.3645 support level. For XRP, which is also close to the 2.4935 resistance at the moment, if the positive trend continues, it will be important for it to first break the $ 2.4935 level and maintain its permanence above it. Then, the $ 2.6747 level can be targeted in the continuation of the rise. In a possible negative movement, the 2.3645 level seems to be the support position where buyers are concentrated. If this level is broken and candles close below, a decline to the $ 2.2305 support level can be seen. Therefore, it is important for investors to pay attention to the determined support and resistance zones by considering the volume and momentum.
AVALANCHE (AVAX)
AVAX is trading at $39.72 as of the morning hours with a 1.15% gain in value. Continuing its 2-day rising streak on the new day, AVAX seems to have been rejected for now by testing both the psychological and major resistance level of $40 in the morning hours. It can be expected to test this level again during the day, and if this level is broken and maintained above, the levels of 42.50 and 45.08 can be evaluated as the next targets. In possible pullbacks, the 37.29 level should be followed as the first support area. A move below this level could cause the price to decline to the 35.50 and 33.01 support levels. Protecting the 35.50 level in particular is important for the continuation of the uptrend. Therefore, it is important for investors to carefully monitor the identified critical support and resistance levels.
SOLANA (SOL)
SOL is priced at $208 levels with a 0.08% gain as of the morning hours. For SOL, which is in the resistance zone of $205.11 – $208.57, if the positive trend continues, $214.72 and then $222.30 levels can be followed as resistance. In possible pullbacks, the first critical support level is 205.11, and if this level is broken and maintained below, 200.13 can be followed as the next resistance. In falls below this level, the levels 191.26 and 183.60 stand out as support areas. Therefore, it is important for investors to pay attention to the determined support and resistance zones by considering the volume and momentum.
