Dgenz Crypto Weekly 016

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February 12, 2025

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The Weekly Ledger

Weekly Snapshot

Market & Economy Overview

Last week saw notable developments in crypto, from national meme coins to record-breaking mining difficulty. The Central African Republic launched its own meme coin, $CAR, which skyrocketed 1,210% in just 2.5 hours, briefly reaching nearly a third of the country’s GDP. Meanwhile, Bitcoin mining difficulty has hit an all-time high of 114.7T due to a rising hash rate. Hash Ribbon, a market indicator which hints at a local bottom for Bitcoin, often forms when miners capitulate — when mining costs exceed profitability. If this pattern holds, Bitcoin’s bottom could be around $91,000. The last capitulation signal occurred in October 2024, just before $BTC surged 50%. In Web3 adoption, Sony’s blockchain platform Soneium has launched its first-ever music NFT collection, featuring unreleased tracks from Tokyo-based producer NUU$HI in collaboration with Web3 label Coop Records. The platform officially launched its mainnet on January 14, 2025, following a four-month testnet phase. During the test period, Soneium said it recorded over 14 million user accounts and processed 47 million transactions, though its long-term adoption remains uncertain. Looking ahead, key economic data releases—CPI on Wednesday and PPI & Unemployment Claims on Thursday—could impact the markets.

Crypto Insights: Weekly Charts

Bitcoin Dominance

$BTC.D has returned to the trendline after bouncing from support yesterday, which largely explains the drop in altcoin prices. Ideally, we’ll see a bearish retest at the trendline before a continued decline, though this isn’t a horizontal resistance level, just a trendline test. Given this setup, entering altcoin longs here offers a good risk-reward. Expect increased volatility today due to the CPI release, with Bitcoin most likely breaking out of the $95-98K range and retesting range lows around $92K.

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 had another retest of this 4HR resistance overnight. Though risky, you’d get a much better RR if you focussed on longs right now. If it continues to drop then a good place to close those longs would be once we hit the 4HR support at 4.44%, which also currently aligns with our 1D 12 EMA.

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

$TNSR

Look to try and catch $TNSR here while it’s back revisiting it’s support at $0.3256, be sure to save some room for a DCA at $0.2965 in case the news we get over the next couple days isn’t so favourable. It gave a nice 25% run from the lows the other day so expecting history to repeat on this one.

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

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