SEC Establishes Crypto Task Force Led by Hester Peirce
The U.S. Securities and Exchange Commission (SEC) has announced the establishment of a new crypto task force aimed at creating a clear and comprehensive regulatory framework for crypto assets. The task force, led by Commissioner Hester Peirce, will collaborate with Congress, the Commodity Futures Trading Commission (CFTC), and other stakeholders to develop regulations that support innovation, strengthen market integrity, and protect investors. The move marks a significant shift in crypto regulation by the SEC under the Trump administration.
Dogecoin Jumps with Musk’s DOGE Move
Dogecoin (DOGE) gained 14% after the logo of a new U.S. federal agency called the “Department of Government Efficiency” (DOGE) led by Elon Musk was introduced on the official website. Established by executive order signed by President Donald Trump, DOGE aims to modernize U.S. digital services and increase efficiency in the $6.5 trillion annual federal spending. DOGE’s logo was displayed with a slogan emphasizing the public’s desire for reform. After the rally, the DOGE price partially pulled back, falling to $0.37. In addition, following the news, former Republican Party presidential candidate Vivek Ramaswamy, resigned from his position at the Department of Government Efficiency (DOGE).
MicroStrategy Buys 11,000 More Bitcoin
MicroStrategy bought 11,000 BTC for $1.1 billion at an average price of $101,191, bringing its total Bitcoin holdings to 461,000 BTC. The company has invested $29.3 billion to date, holding more than 2% of Bitcoin’s total supply. The purchase is part of a capital-raising plan targeting $42 billion in total via $21 billion in stocks and $21 billion in fixed-income securities. The company’s aggressive strategy in Bitcoin investments continues.
El Salvador Continues to Buy Bitcoin Despite IMF Agreement
El Salvador has increased its Bitcoin reserves, purchasing a total of 12 BTC in the last two days, bringing its total BTC holdings to 6,044. These purchases come on the heels of the country’s $1.4 billion financing agreement with the IMF, in which it committed to reducing some of its Bitcoin policies. The National Bitcoin Office emphasized that its Bitcoin strategy has not changed, while maintaining its stance on the use of BTC as an official currency. Bitcoin is currently trading at $103,000, with the country’s total reserves worth $620 million.
Vitalik Claims Ethereum Foundation Leadership
Ethereum co-founder Vitalik Buterin has stated that he maintains his authority over the leadership of the Ethereum Foundation. Buterin condemned the harassment and threats made by some community members against Aya Miyaguchi, while rejecting demands that Danny Ryan be appointed to the leadership role. Ryan supporters are calling for his leadership, highlighting his contributions to the PoS transition. Buterin emphasized that leadership decisions are his until reforms are implemented.
Mark Cuban Proposes Meme Coin Donated to the Treasury
Mark Cuban has proposed reducing the US Treasury debt with meme coin revenue. The idea, which he ironically voiced on social media, includes messages criticizing the risks of fraud and the frenzy in the meme coin market. Cuban emphasized that such projects damage the reputation of crypto, while stating that scam cases and rug pulls harm the industry. It seems unlikely that Cuban will seriously implement the project.
TRON and Wintermute Strengthen Collaboration
Global algorithmic trading firm Wintermute is deepening its collaboration with TRON DAO to increase liquidity and improve trading efficiency in the TRON ecosystem. This strategic partnership includes liquidity provision and OTC trading solutions for TRX, USDT, USDD, and other tokens. Wintermute aims to grow TRON’s DeFi ecosystem while improving the trading experience on centralized and decentralized exchanges. The partnership underscores the commitment to building an innovative and sustainable blockchain ecosystem.
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BITCOIN (BTC)
BTC is priced at $105,852 as of the morning hours, down 0.27%. Looking at the support levels, the 102,699 level stands out as a short-term support area. If this level is dropped below, a pullback to 95,934 is possible. In upward movements, if the price is sustained above 105,731, it can be expected that the price will catch a new uptrend and move towards the 110,000 region. However, if the price gets stuck in the current resistance area or exhibits a downward movement, the support at 102,699 will play a critical role.
ETHEREUM (ETH)
ETH is priced at $ 3,334 as of the morning hours with a 0.22% gain in value. While the price is trying to determine the direction within this narrow band, in the event of an upward break, a movement towards the important resistance area at the level of 3,560 may be observed. However, a voluminous increase will be required to overcome this resistance area. In the event of a downward movement, the support area at the level of 3,220 will play a critical role. If this level is broken, the price is likely to retreat to the level of 3,040. The market is currently in the decision phase, and the direction of the breakout of this consolidation zone will determine the next trend of the price.
RIPPLE (XRP)
XRP is priced at $ 3.1784 as of the morning hours with a 0.14% gain in value. In the event of an upward break, the price can be expected to accelerate towards higher levels. However, in the event of rejection at this level, the price is likely to retreat and move towards the support zone between 2.8716 and 2.900. This support zone stands out as a critical area where buyers can step in if the price is pressured downwards. However, the 2.7720 level stands out as the next major support level to watch in case the price experiences a deeper correction.
AVALANCHE (AVAX)
AVAX is trading at $ 37.24 with a 0.76% gain as of the morning hours. If the price rises above this level, an upward momentum can be expected towards the resistances at 39.05 and 40.30. However, if a rejection occurs in this resistance area, the price is likely to fall back to the support at 35.63. While 35.63 plays a critical role among the support levels, the 32.95 level should be followed in case the price declines further. In order for the upward movements to continue, buyers need to break the 37.67 level and maintain stability above it. In addition, the resistance at 42.06 can be considered as an important threshold that can determine the medium-term trend of the price.
SOLANA (SOL)
SOL is priced at $256.97 with a 2.65% gain as of the morning hours. While the 245.52 level stands out as support, staying above this level indicates that buyers are in control. In previous upward movements, the 229.30 level was tested as support and a recovery occurred from here. This level can be monitored as a second important support zone for the price. In addition, the green area around 201.83 and 210 represents an area where the price accumulated before a sharp rise and can be considered as long-term support. In the short term, if the upward movements continue, the 270-280 range could be potential target areas. However, if the price falls below 245.52, there is a risk of a pullback to 229.30.
