Dgenz Crypto Weekly 010

Your go-to newsletter for crypto market updates, trends and analysis brought to you by DgenzNFT.

January 01, 2025

The Weekly Ledger

Weekly Snapshot

Market & Economy Overview

As Donald Trump prepares for his January 20 inauguration, the crypto industry is anticipating a surge in executive orders which could impact Bitcoin prices; however, if these expected moves do not materialize Bitcoin could see a significant drop. With the New Years rally expected to peak around mid-January, this period may offer an opportunity to reduce risk and take profits. Meanwhile, the FTX Chapter 11 Reorganization plan is set to take effect on January 3rd allowing creditors to begin making claims, with $16 billion worth of distributions expected in two months. Additionally, the $FTT token has climbed 68% since the courts approval in mid December. Another noteworthy performance recently was the $PEPE spike back up to $0.000022 following Elon Musk's profile picture change on X to a Pepe character.

Crypto Insights: Weekly Charts

Bitcoin Dominance

Last weeks close confirms the move down we anticipated for $BTC.D as we have now rejected from the weekly trendline with those last two touches. A bounce can be expected at our closest support around the 54% mark which will likely coincide with Trump’s inauguration before we potentially head lower towards the major support area at 48%.

The BTC.D chart shows Bitcoin’s market dominance, revealing its share of the total crypto market cap and helping investors understand capital flow trends and overall confidence in Bitcoin versus altcoins.

Bitcoin

On the 4HR chart we can see that $BTC is still currently in a downtrend, however we can see we deviated above earlier and are currently back again trying to break above. We do look primed for a breakout here but we will need to break through $95k first before we can see a move back to $98k or higher. If Bitcoin can manage to break out here and we see $BTC.D follow through with its downward move then we can expect to see some relief across the alt market too. As a rule of trading whenever you see $BTC going up and $BTC.D down you will see altcoins start to heat up.

Spotlight: Token of the Week

$LDO

If we happen to see a larger market pullback then Lido DAO looks like a good play leading into 2025 with the $ETH staking narrative. It has been a strong coin as of late and should provide us with a minimum move of 10% from the marked entry point.

This is not financial advice. Please conduct your own research and trade responsibly.

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