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- Dgenz Crypto Weekly 007
Dgenz Crypto Weekly 007
Your go-to newsletter for crypto market updates, trends and analysis brought to you by DgenzNFT.
The Weekly Ledger
Weekly Snapshot
Market & Economy Overview
The crypto market saw a dramatic shift this week, beginning with the largest liquidation event since 2021 when over half a million traders were liquidated for $1.55 billion. Binance recorded the largest single liquidation, wiping out a $19.69 million Ethereum trade. Despite this, crypto investment products saw record inflows of $3.85 billion, led by $3.6 billion from the U.S., with Switzerland and Germany contributing $160 million and $116 million, respectively. Bitcoin’s realized profit dropped 76% from its $10.5 billion daily peak during the $100,000 surge down to a now $2.5 billion, easing sell-side pressure and stabilizing prices. Futures funding rates, which spiked above 100% APR during the rally, have now normalized to under 15% for Bitcoin and Ethereum, and under 30% for altcoins, reducing excessive leverage and signaling a more stable market. Meanwhile, AI cryptocurrencies suffered a 14.6% market cap drop after China launched an antitrust probe into Nvidia for suspected anti-monopoly violations, highlighting the vulnerability of emerging sectors to regulatory scrutiny.
Crypto Insights: Weekly Charts
USDT Dominance
$USDT.D bounced from it's weekly support which is to be expected when the year comes to a close. Holidays have begun so people tend to be sidelined or taking profits to fund vacations and gifts. Tax harvesting will also begin taking place, those that made a lot of money will now be selling at a loss to harvest against their capital gains. On that bounce off support we also managed to retest our trendline but it still remains to be seen whether we will breakthrough it and cause more blood, or it rejects allowing the altseason to continue in full force.
The USDT.D chart shows the market dominance of Tether (USDT), indicating the proportion of crypto market value held in Tether and reflecting investor sentiment towards risk, as higher dominance often signals a move towards stability.
Others Dominance
$OTHERS.D found resistance at 12.1% but looks to have potentially found support at the previous resistance of 10.5%. We've already seen a huge pullback averaging about 20% on most alts, however we could still be in for a further 20% drawdown if that level fails to hold and we go back to retest previous support at 8.9%. In uncertain times like these it is best to avoid leverage and instead enjoy the discounts provided to you and add to your highest conviction plays.
The OTHERS.D chart highlights the market share of altcoins outside the top 10 by market cap, giving investors insight into capital flow and interest in the broader crypto market.
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Spotlight: Token of the Week
$POPCAT
Originally called 2 weeks ago in our Dgenz NFT discord server where our community made some quick and easy gains of over 23% before memecoins suffered some of the biggest hits during this flush. However, $POPCAT is now back at a major area of support presenting a good opportunity to enter. The main reasoning behind the bullish sentiment on this coin is the pump that can be seen by retail buyers if it gets listed on majors like Coinbase, Binance and Robinhood.
This is not financial advice. Please conduct your own research and trade responsibly.
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