FameEX Weekly Market Trend | January 6, 2025

1. BTC Market Trend

From January 2 to January 5, the BTC spot price swung from $93,940.59 to $99,090.58, a 5.48% range. In the past four days, the Federal Reserve (Fed) and the European Central Bank (ECB) have made the following important statements:

1) On January 4, Fed’s Barkin indicated that due to potential upside inflation risks, he favored maintaining a tighter policy for a longer period. The baseline expectation for 2025 is positive. More work remains, but not as restrictive as before to achieve the goal.

2) On January 2, ECB President Lagarde hoped the ECB could achieve the 2% inflation target by 2025.

3) On January 3, ECB Governing Council member Stournaras expected the ECB interest rate to drop to 2% by this fall.

Source: BTCUSDT | FameEX 

From January 6 to January 8, keep monitoring ETH spot trading opportunities, including sell orders at $5,125 and dip buy orders at $2,040 and $1,730. For the BTC spot, maintain the sell order at $169,400 and dip buy orders at $73,970, $59,935, and $45,900.

2. CMC 7D Statistics Indicators

Overall market cap and volume, source: https://coinmarketcap.com/charts/

Altcoin Season Index and Bitcoin Dominance: https://coinmarketcap.com/charts/

Crypto ETFs Net Flow: https://coinmarketcap.com/charts/

CoinMarketCap 100 Index: https://coinmarketcap.com/charts/cmc100/

(Used to measure the overall performance of the top 100 cryptocurrency projects by market capitalization on CoinMarketCap)

Fear & Greed Index, source: https://coinmarketcap.com/charts/

3. Perpetual Futures

The 7-day cumulative funding rates for major exchanges’ mainstream cryptocurrencies are generally positive.

Source: CoinAnk

In the past three days, the BTC contract open interest has slightly decreased, while the ETH contract open interest has experienced a sharp rise.

Exchange BTC Contract Open Interest:

Source: CoinAnk

Exchange ETH Contract Open Interest:

Source: CoinAnk

Note: All the above information is provided for reference purposes only and should not be construed as specific investment advice.

4. Industry Roundup

1) On January 2: U.S. initial jobless claims for the week ending December 28 were 211,000 (forecast: 222,000; previous: revised from 219,000 to 220,000).

2) On January 2, Grayscale reported that the Q4 2024 crypto market cap exceeded the total value of global inflation-linked bonds.

3) On January 2, the U.S. IRS postponed the enforcement of crypto tax reporting rules until the end of 2025.

4) On January 2, as of December 31, 2024, U.S. spot Bitcoin ETFs held 1,125,698 BTC.

5) On January 2, SlowMist reported 410 security incidents in the crypto space in 2024, with $2.013 billion in losses, down 19.02% year-over-year.

6) On January 2, Spain’s second-largest bank, BBVA, with a stake in crypto custody platform Garanti BBVA Kripto, planned to offer crypto trading services.

7) On January 3, Bloomberg reported the new SEC Chair is “almost certain” to ease the crypto market's regulatory environment.

8) On January 3, crypto companies raised $1.576 billion in December 2024, the highest since October 2022.

9) On January 3, December losses from crypto hacks and scams reached $29 million, the lowest in 2024.

10) On January 3, Dennis Porter stated a U.S. state would start buying Bitcoin within four months.

11) On January 3, the U.S. Department of Commerce raised “national security” concerns, considering new rules to restrict or ban Chinese drones in the U.S.

12) On January 3, U.S. banking system reserves fell below $3 trillion, the lowest since 2020.

13) On January 4, Ethereum News Weekly announced it would cease operations.

14) On January 4, since its launch, T3 Financial Crime Unit has frozen 100 million USDT on Tron.

15) On January 4, it was reported that the U.S. now accounts for over 40% of the global Bitcoin hashrate.

16) On January 4, FTX officially announced its bankruptcy plan has taken effect, with the first repayments expected within 60 days.

17) On January 4, President Biden blocked Nippon Steel’s proposed acquisition of the U.S. Steel (X.N).

18) On January 4, after over five hours of standoff with the Presidential Security Service and military police, South Korea’s Corruption Investigation Office suspended an arrest warrant but may retry within its validity period.

19) On January 5, the People’s Bank of China 2025 Work Conference announced plans to implement a moderately loose monetary policy, consider reserve requirement ratio and interest rate cuts, and firmly prevent excessive exchange rate fluctuations.

20) On January 5, China’s State Administration of Foreign Exchange 2025 Work Conference announced plans to implement a more proactive foreign exchange policy, strengthen counter-cyclical adjustments, and manage market expectations.

21) On January 5, next Tuesday, the Eurozone’s December CPI preliminary data will be released, followed by the U.S. December ADP employment figures on Wednesday.

22) On January 5, it was announced that next Thursday will see the release of U.S. weekly jobless claims, China’s December M2 money supply growth rate, and the Fed’s December meeting minutes. Next Friday will feature U.S. December non-farm payroll data, the unemployment rate, and average hourly earnings.

Disclaimer: FameEX makes no representations on the accuracy or suitability of any official statements made by the exchange regarding the data in this area or any related financial advice.