- Dgenz Crypto Weekly
- Posts
- Dgenz Crypto Weekly 015
Dgenz Crypto Weekly 015
Your go-to newsletter for crypto market updates, trends and analysis brought to you by DgenzNFT.
In partnership with
Invest Smarter with Digital ETPs
DeFi Technologies (US: DEFTF & CAD: DEFI.NE) is transforming traditional finance by offering regulated access to over 60 digital asset exchange-traded-protocols (ETPs). Empower your portfolio with secure solutions for Bitcoin, Ethereum, Solana, Ripple and beyond.
The Weekly Ledger
Weekly Snapshot
Market & Economy Overview
Last week in crypto saw major developments across policy, institutional investment, and adoption. On February 1st, Donald Trump announced additional import tariffs, 25% on Mexico and Canada and 10% on China, triggering up to $10 billion in liquidations according to Bybit CEO Ben Zhou. However, the markets rebounded shortly after when Trump agreed to a 30-day delay on the Mexico and Canada tariffs. In a surprising move, MicroStrategy, known for its aggressive Bitcoin accumulation since 2020, refrained from buying more $BTC despite the price drop. The company’s Bitcoin holdings remain at 471,107 $BTC, which were acquired for $30.4 billion at an average of $64,511 per $BTC. Meanwhile, El Salvador bought the dip, adding 11 $BTC on February 4th, bringing its total reserves to 6,067.18 $BTC. In adoption news, Travala partnered with Trivago, now enabling crypto payments for over 2.2 million properties world wide in 100+ cryptocurrencies. The collaboration also introduces crypto rewards for travelers, allowing users who book through Trivago to earn Bitcoin and Travala’s native loyalty token, $AVA.
Crypto prices after US President Donald Trump announced additional import tariffs.
Crypto Insights: Weekly Charts
Bitcoin Dominance
$BTC.D surged to 64.33% yesterday causing the altcoins to continue bleeding again after what was a short lived bounce back up. Roughly $467 billion in marketcap was wiped out from the altmarket in a mere 3days. Although, the good news is, just like we saw on the $USDT.D chart, we again have 2 daily candle closes below the top of the resistance band indicating a likely move to the downside. Now, if Bitcoin itself can manage to hold $100k and push higher while $BTC.D continues to drop, then we will begin to see our final run on altcoins.
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
$BTC finally retested a key area of support and it's range lows at $92k during the market wide nuke these last few days. It then also immediately went back up to test the point of control (POC) at $102k where it found heavy resistance. $BTC also just now reclaimed support at $99k so another retest of our POC is imminent.
USDT Dominance
$USDT.D is back to sitting just under this major daily resistance again after a huge spike to 4.95% following the news on increased tariffs. After the 2 recent daily closes under this resistance level we now have confirmation of a move back down, so this looks to be a great opportunity to start adding to your portfolio while tokens are at a discount.
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.
New to crypto trading and looking for guidance? We got you!
Check out our weekly guide with trading strategies, candle patterns, and tips that will level up your skills. Got questions? Join our community and grow with us! Trading never sleeps, and neither do we.
|
Spotlight: Token of the Week
$ONDO
Look to try and catch a retrace on Ondo Finance with bids set at $1.2645 and $1.1835. First area to take profits would be at an 18% increase just shy of $1.5 with a final target of $1.92.
This is not financial advice. Please conduct your own research and trade responsibly.
Want to stay ahead of the moves? Join our community and get real-time insights on the market—daily, hourly, anytime you need them. Learn from our 4 expert chart masters and engage with a community of traders out there in the trenches with you. 🚀 Don’t miss the next one!
Know a few friends who need crypto alpha in their life? Share your link, collect rewards and don’t miss out on the soon to be announced Dgenz perks - Start referring today!