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Dgenz Crypto Weekly 012
Your go-to newsletter for crypto market updates, trends and analysis brought to you by DgenzNFT.
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The Weekly Ledger
Weekly Snapshot
Market & Economy Overview
Crypto prices have rebounded following Monday's sharp decline, with Bitcoin rising by as much as 9.2% from its lows, fueled by reports that Donald Trump is preparing executive orders aimed at benefiting the crypto industry. This rally gained further momentum today, supported by softer-than-expected U.S. Producer Price Index (PPI) readings for December. Looking ahead, Wednesday's Consumer Price Index (CPI) report could introduce additional volatility, as well as offering traders an insight into the Federal Reserve's policy direction for 2025. Moreover, Trump's upcoming inauguration on January 20 is expected to influence markets as anticipation grows over his pro-crypto stance. While our initial outlook favored a sell the news event around the inauguration, we are now adjusting that strategy, another Trump Pump like we saw at the elections seems more plausible. With the S&P 500 closing its post-election gap and Bitcoin recently hitting two-month lows, any de-risking would depend on this weeks price action leading up to the big event.
Crypto Insights: Weekly Charts
BTC
Price recently retested the swing lows of $90.5K and rebounded nicely today to reclaim 4HR support around $96K. The next key level standing in Bitcoin's way however is now sitting close by at $98.6K. This would be an ideal spot to look at taking a short as it aligns with the golden pocket and $BTC is likely to continue chopping around this $98.6K-$92.6K region leading up to the inauguration.
BITCOIN Dominance
$BTC.D is once again approaching this key resistance level at 60% where we also expect another retest of our recently broken trend line. A solid rejection here while Bitcoin chops up and down is the perfect scenario we are waiting for so that altcoins get their long awaited run.
BTC.D 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.
USDT Dominance
$USDT.D is still stuck in this range between the previously broken weekly up trend and a major support level sitting at 3.8% adding more confluence to our theory of continued chop for the time being. For the altseason to truly kick off then we would need to lose that support level to show that the market is willing to invest in riskier assets.
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.
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Spotlight: Token of the Week
$ORCA
This setup is based on $ORCA having created a deviation below a key daily support level, and is now trading above it. Although there are no additional confluences to back this trade, the fact that $ORCA has reclaimed and is holding above its support level suggests a possibility for a short-term price surge. However, due to the absence of multiple confirming factors and the current price position just above the support, it's important to manage risk carefully.
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