Scott Bessent Confirmed as Crypto-Friendly US Treasury Secretary
The US Senate has confirmed billionaire hedge fund manager Scott Bessent as the new Treasury Secretary. Known for his positive views on cryptocurrencies, Bessent will join the Presidential Working Group on Digital Asset Markets, which will develop a federal regulatory framework for cryptocurrencies and stablecoins. Bessent, who opposes the issuance of a central bank digital currency in the US, finds it unnecessary. Bessent, whose economic policies are in line with Trump’s goals, aims to control inflation through universal tariffs and increased oil production, and support innovation in technology and the crypto sector.
Bitcoin Drops Below $100K, Liquidated $855 Billion
Bitcoin experienced a sharp decline during Asian trading hours, falling below $100,000 and falling to $97,000. The crash has triggered widespread turmoil in crypto and equity markets. Another major driver of the market turbulence has been the rapidly growing popularity of China-based AI firm DeepSeek. DeepSeek’s free and open-source R1 model has outperformed OpenAI’s ChatGPT, raising concerns about its potential impact on major tech companies.
This volatility has led to a massive liquidation wave in the crypto market. According to CoinGlass data, more than 313,000 investors were affected, totaling $855 billion in liquidations.
Trump’s Crypto Moves Attract $1.9 Billion in Investment
President Donald Trump’s executive orders targeting cryptocurrencies led to a net inflow of $1.9 billion into global digital asset investment products last week. According to CoinShares, US-based crypto funds took the largest share with $1.7 billion, while Bitcoin-based products accounted for $1.6 billion of total inflows. Trump’s establishment of a working group on digital asset regulation and the establishment of a strategic reserve and his pardon of Ross Ulbricht boosted investor confidence. Digital asset funds in Switzerland, Canada and Germany also saw net inflows of $35 million, $31 million and $23 million, respectively.
MicroStrategy Hits Record High of 471,107 BTC and New Stock Offering
MicroStrategy has bought Bitcoin for the 12th consecutive week, bringing its total holdings to 471,107 BTC. The company announced an offering of 2.5 million Series A Perpetual Preferred Shares (STRK) to continue its Bitcoin purchases. These shares will have a liquidation priority of $100 and cumulative dividends. In its latest purchase, MicroStrategy purchased 10,107 BTC at an average price of $105,596. In addition, the company’s shareholders approved a proposal that would increase the authorized number of Class A common shares from 330 million to 10.3 billion.
CFTC Launches Roundtables
CFTC Interim Chair Caroline Pham has launched roundtables focused on crypto and prediction markets. These meetings will address market structure innovations, conflicts of interest, and issues related to digital assets. Pham said this comprehensive approach will create clear rules and safeguards to support the U.S. economy and enhance global competitiveness. Regulators, who have adopted a more crypto-friendly stance with the Trump administration, are taking a more open approach to prediction markets and innovation in the sector.
Ripple Strengthens U.S. Growth with New York and Texas Licenses
Ripple has expanded its presence in the U.S. domestic market by obtaining Money Transmitter Licenses (MTLs) in New York and Texas. The new licenses give Ripple Payments customers access to a licensed cross-border payment solution that the company provides end-to-end management. Ripple aims to grow in the US amid the positive impact of the pro-crypto Trump administration on the sector, while Ripple Payments recorded $70 billion in transaction volume by 2024. The company’s US-based positions reached 75%, while its RLUSD stablecoin was launched in December. Ripple doubled its operations in the US with increased regulatory compliance and new business opportunities.
Rosseti Group to Utilize Idle Energy Capacity with Bitcoin Mining
Russia’s largest energy grid operator, Rosseti Group, plans to use low-utilization energy centers for crypto mining. The company is working on a strategy to coordinate its mining infrastructure while aiming to increase revenue and tax contribution. Stating that it is technically ready for mining operations, Rosseti is also considering a special tariff structure for miners. However, mining bans imposed in some regions starting in 2025 due to energy shortages may make this attempt difficult.
Ethereum Foundation Sold ETH, Criticism Increased
The Ethereum Foundation sold a total of 300 ETH in January 2025, worth approximately $981,200. The most recent sale of 100 ETH for $307,893 resulted in a 7% decrease despite the ETH price rising above $3,000. The Foundation, which holds 269,175 ETH, has an asset value of $817 million. The increasing popularity of rival blockchains like Solana is increasing Ethereum’s need to innovate, while industry representatives like Justin Sun and Paradigm are calling for it to focus on developer support and ecosystem stability. The foundation plans to allocate 50,000 ETH (about $165 million) to support decentralized finance initiatives, while Vitalik Buterin defended the administration, promising transparency reforms.
BlackRock Increases Bitcoin Investments to $60.6 Billion
Investment giant BlackRock bought $1 billion worth of Bitcoin last week, bringing its total assets to 572,616 BTC. The purchase was recorded as the largest Bitcoin purchase of 2025, while BlackRock’s Bitcoin ETF (IBIT) is also showing strong performance. IBIT broke a record with a trading volume of over $1 billion on Jan. 24, while total inflows reached $39.73 billion. BlackRock officials state that institutional and individual adoption of Bitcoin is still in its early stages, while CEO Larry Fink predicts that Bitcoin prices could reach levels of $ 500,000-700,000 in the long term.
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BITCOIN (BTC)
BTC is priced at $ 102,980 as of the morning hours with a 0.88% gain in value. The price has risen to $ 103,139.24 and is moving close to a significant resistance level. The level of 102,451.99 is currently being watched as an area where the price finds support. In upward movements, a test towards the level of 106,000 can be expected. However, a strong increase in volume is needed for the price to overcome this resistance area. On the other hand, if the price declines below the 102,451.99 level, there may be a possibility of increased selling pressure and a pullback below 100,000, i.e. to the 96,060.85 support.
ETHEREUM(ETH)
ETH is priced at $3,209 with a 0.87% gain as of the morning hours. The 3,220.55 level is currently seen as a significant resistance level and the price is struggling to break above it. If the price can break above this resistance level, the next target could be 3,300 and above 3,360. However, an increase in volume is critical for the upward movement to continue. On the downside, if the price breaks below the 3,100 USD level, the 3,000 psychological support could be tested. If the price breaks below this support, a pullback to 2,900 is possible.
RIPPLE(XRP)
XRP is priced at $ 3.1130 with a 1.79% gain as of the morning hours. There was a drop to the previous support area of 2.8716 – 2.7220 and this area has been strongly defended. Above this area, the price has continued to recover and is heading towards the resistance at 3.2000. In the short term, if the price breaks the 3.2000 resistance, it will be a significant sign that the bullish momentum continues. In this case, the next target for the price could be 3.3000. However, in case of a pullback from this resistance zone, the 2.8716 level can be tested again and this level can work as a critical support for the price.
AVALANCHE(AVAX)
AVAX is traded at $34.30 with a 0.32% gain as of the morning hours. The 35.63 level appears as resistance. A close above this level could signal the price to re-enter an uptrend. However, there is also a risk that the price could pull back towards the support area at 32.95. A break below this area could increase selling pressure and lead to a test of lower levels. In upward movements, the 37.67 level could act as an intermediate resistance. For higher targets, the 40.30 and 42.06 levels should be monitored as important resistance areas. Especially staying above the 42.06 level could support a stronger rise in the medium term.
SOLANA(SOL)
SOL is priced at $241.49 with a 2.78% gain as of the morning hours. It is seen that it recovered with the support it received from the level of 229.30 and made an upward movement. This level is an important support area in the short term. If the price continues to hold above this support, there is a potential to test the 245.52 resistance level again. In upward movements, a close above 245.52 could lead the price to higher levels. In particular, holding above this level could support a move towards 260 levels. However, in the event of a possible rejection from the current resistance level, the price is likely to test the support at 229.30 again. In downward movements, if the level falls below 229.30, the 201.83 area stands out as the next major support.
