US January PPI Rises Faster Than Expected
The Producer Price Index (PPI) in the US exceeded expectations by increasing by 0.4% monthly and 3.5% annually in January. Core PPI also came in above estimates at 3.6%. While the Bitcoin price did not immediately react to the announced data, it hovered around $96,000 before Trump’s new customs tax announcement. Although the Fed cut interest rates by 100 basis points at the end of 2024, only one interest rate cut throughout 2025 is priced in due to high inflation data.
Three Days of Outflows in Bitcoin ETFs in the US
A total of $494 million in outflows occurred from Bitcoin spot ETFs in the US for three consecutive days. While the biggest loss was experienced on Wednesday with an outflow of $251 million, the biggest outflow was seen in Fidelity’s (FBTC) fund with $102 million. Bitcoin is stuck at $96,000 and has been trading between $90,000 and $109,000 since mid-November. The decline in ETF volumes and the lack of interest in Goldman Sachs’ Bitcoin ETF application suggest that investors are cautious about opening new positions.
SEC Considers Grayscale’s XRP and Dogecoin ETF Applications
The U.S. Securities and Exchange Commission (SEC) has officially accepted Grayscale’s XRP and Dogecoin spot exchange-traded fund (ETF) applications. This means the SEC will begin a 240-day period for the applications to be reviewed and ruled on. If the process begins immediately, a final decision is expected in mid-October. Bloomberg analysts rate the Dogecoin ETF’s chances of approval at 75% and the XRP ETF’s at 65%. However, uncertainty about whether XRP is a security or not can complicate the process. Dogecoin’s similar structure to Bitcoin is expected to make the approval process smoother.
Coinbase’s Q4 2024 Revenue Beats Expectations at $2.3 Billion
Coinbase beat expectations by 23% in fourth-quarter 2024 revenue, representing an 88% increase from the previous quarter. The company’s trading revenue rose 172% to $1.6 billion, while subscription and services revenue increased 15% to $641 million. For the full year, Coinbase more than doubled its total revenue to $6.6 billion and generated $2.6 billion in net income. The company announced that it had $9.3 billion in cash reserves as of the end of the year.
Trump Signs Reciprocal Customs Duty Executive Order
US President Donald Trump has signed an executive order that provides for the imposition of reciprocal customs duties on the country’s trading partners. The new regulation also covers non-monetary policies, and will evaluate practices such as Value Added Tax (VAT) within the scope of import taxes. The customs duties will not go into effect immediately. They will be implemented following a report to be prepared by Commerce Secretary Howard Lutnick, Secretary of State Marco Rubio, and Treasury Secretary Scott Bessent. Lutnick stated that the report will be completed by April 1.
Ethereum Foundation Allocates $120 Million to DeFi Protocols
The Ethereum Foundation has invested a total of 45,000 ETH (approximately $120 million) in Aave, Spark, and Compound to support the decentralized finance (DeFi) ecosystem. The move was seen as a response to community concerns that the foundation would be able to raise funds without relying on ETH sales. Aave CEO Stani Kulechov noted that this was the foundation’s largest allocation to DeFi. Community members also welcomed the move, welcoming the Ethereum Foundation to begin investing its assets directly into DeFi.
Tether Could Sell Bitcoin
Tether could be forced to sell its Bitcoin and other non-compliant assets if the proposed U.S. stablecoin regulations are passed, according to JPMorgan analysts. The company’s reserves are 66%–83% in line with the current bills, meaning it may need to hold more U.S. Treasury bonds and liquid assets. Tether currently holds 83,758 Bitcoins worth more than $8 billion. The new regulations could strain Tether’s current structure while increasing transparency and reserve controls. USDT, which has been removed from some exchanges due to MiCA regulations in Europe, could face more serious regulatory pressure in the US, where it has a larger market share.
Metaplanet Issues Bonds for Bitcoin Purchases
Japan-based Metaplanet Inc. raised $25.9 million (4 billion yen) through an interest-free and unsecured bond issue. The company aims to reach 21,000 BTC by 2026. Metaplanet said it is strengthening its strategy to adopt Bitcoin as a primary reserve asset against economic uncertainties, high debt, and yen depreciation in Japan. The bonds will be redeemed in August 2025, and the funds raised will be used directly to purchase Bitcoin.
Riot Wants to Turn Bitcoin Mining Assets into Artificial Intelligence
Bitcoin mining company Riot Platforms has appointed three new board members. Among those members is Jaime Leverton, who has experience in converting Bitcoin mining assets into artificial intelligence (AI) and high-performance computing (HPC). Leverton previously led the firm’s expansion of its data center business as CEO of Hut 8 Mining Corp. Riot is exploring ways to redirect its assets into the AI and HPC space as mining rewards decline. However, the company said it could not guarantee that the AI/HPC transformation would be financially advantageous.
GameStop Shares Rise 20% on Bitcoin Investment Claims
GameStop shares rose 18% in after-hours trading on reports that the company is considering investing in Bitcoin and other alternative assets. According to a Feb. 13 report by CNBC, retail giant GameStop may be considering cryptocurrency investments, based on information from three different sources. However, the investment decision has not yet been finalized, it was noted. On the news, GameStop shares rose to $31.30 before falling to $28.36. A memecoin based on Solana, which is not affiliated with GameStop, also gained 45%. The company has attempted a crypto wallet and NFT marketplace in the past, but these were shut down due to regulatory uncertainties.
Jupiter Announces JUP Buyback Policy
Jupiter Exchange announced that it will buy back JUP tokens using a 50% protocol fee and lock them for three years. This process will begin on Monday, and the platform will roll out a dashboard next week to transparently track the process. The move comes after discussions about possible acquisitions and platform developments in the Solana ecosystem. Jupiter previously carried out a similar buyback process in January, resulting in a 60% increase in the price of JUP. Such buyback strategies continue to be widely used in the crypto market for supply management.
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BITCOIN (BTC)
BTC is priced at $ 96,610 as of the morning hours with a 0.01% loss in value. While the 102,451.99 level draws attention as a strong resistance point, there is a supply zone (red area) between 108,000 – 110,000. The price has previously been rejected from these levels and entered a downtrend. BTC is currently trading at 96,603.78, moving just above the 96,060.85 support. If the price loses this level, the 91,370.06 level should be followed as a strong support. Since this area was a critical level where the price had previously reacted, it can be expected that buyers will step in again in the event of a possible decline. On the other hand, if the price maintains the 96,000 level and gains upward momentum, the 98,000 – 100,000 area may form a short-term resistance. However, the 102,451.99 level must be overcome for the rise to continue. If this level is broken, the price could move towards the liquidity area (orange zone) around 104,000 and then towards the larger supply area.
ETHEREUM (ETH)
ETH is priced at $ 2.2694 as of the morning hours with a 0.69% gain in value. The 3,220.55 level is a critical resistance point, and the price entered a downtrend after being rejected from this level. The 3,829.69 level above is seen as a larger supply area (red area). ETH is currently trading at 2,694.40, and the 2,676.44 level works as a short-term support. If this support cannot be maintained, the next potential support levels on the downside are 2,461.59, 2,338.99 and 2,168.07. On the other hand, if the price remains above 2,676, the probability of a recovery towards 2,800-3,000 levels will increase. However, 3,220.55 must be overcome for the main uptrend to resume. Breaking this level could send the price back to the 3,400 – 3,500 range (blue zone).
RIPPLE (XRP)
XRP is priced at $ 2.56 with a 0.05% loss in value as of the morning hours. While the 3.2000 level draws attention as a strong resistance, there is a supply zone (orange area) between 2.8716 – 2.7220. When the price previously approached this level, it encountered strong selling pressure and entered a downtrend. XRP is currently trading at 2.5607, trading within a support zone (blue area) between 2.4000 and 2.5500. If the price remains above this zone, a rally towards 2.7220 is possible. If this level is broken, the next major resistance level will be 2.8716. However, if the price breaks below 2.5000, the downside pressure will increase and a drop to the 2.0000-1.9000 range may be on the agenda. This area has acted as a strong support in the past and there is a high probability that the price will react here.
AVALANCHE (AVAX)
AVAX is trading at $ 25.68 with a 1.14% gain as of the morning hours. While the 45.80 level stands out as the strongest resistance point, the 42.06 level below draws attention as an important supply region (blue area). After testing this region before, the price entered a sharp selling wave and entered a downtrend. AVAX is currently trading at 25.66 and is in a short-term consolidation process. The nearest resistance level is determined as 28.77. If the price breaks this level, the probability of the rise continuing increases and a move towards the levels of 32.95 and 35.63 may occur. In the downside scenario, if the level of 25.00 is lost, the level of 21.88 below may act as a strong support. This area is a critical support point where the price has reacted in the past, and buyers can be expected to step in here.
SOLANA (SOL)
SOL is priced at $ 195.08 with a 0.43% gain as of the morning hours. While the levels of 229.30 and 245.52 stand out as strong resistance areas, the price entered a downtrend after approaching these levels. It is currently traded at 195.03 and is moving close to a critical support area (orange zone). The level of 201.83 is seen as a short-term resistance. If the price breaks this level, the upward movement can be expected to continue and a rise towards the liquidity zone in the 210-220 band (blue area). Breaking this zone can support a larger recovery and start a move towards the 229.30 level. However, the price is stuck in the 195-200 range, and if the 195.00 level is broken, selling pressure may increase and the price may experience a pullback towards the 180-170 levels.
