It’s a busy week on the macro front, but there are also big developments in cryptocurrencies. Although BTC is struggling to maintain $90,000, Trump’s unpredictability is not yet putting investors in a “comeback has begun” mood. There have been 8 major developments in the last 24 hours, and we will feel their effects much more clearly in the long term.
Important Developments in Cryptocurrencies
In his statements yesterday, Trump said that he wanted to sign the cryptocurrency law soon. presidential decrees cryptocurrencies It does not provide long-term advantages for the new president because the new president can easily cancel them. However, last year GENIUS and the cryptocurrency market clarity law, which is still being worked on, will provide an advantage to the industry even if Trump is gone.
Important developments of the last 24 hours are as follows:
- Senate Agriculture Committee, crypto commodities published an updated crypto market structure bill that expands CFTC authority over
- Market structure bill likely delayed until late February-March as Senate Banking Committee focuses on Trump’s efforts on housing affordability (Bloomberg).
- white house crypto advisorwarned that Coinbase could face tougher regulations if the legislative process stalls.
- Eric Trump said banks are working to block the crypto law, but the administration expects banks to take action once the rules are passed.
- Iran purchased $500 million USD stablecoin to bypass sanctions (Elliptic).
- The US government sold $654 billion of Treasury bonds in 9 auctions last week.
- Ondo Finance has launched more than 200 tokenized stocks, ETFs, bonds and commodities on Solana.
- Neynar acquired Farcaster as the founders shifted their focus to wallet development.
The US M2 money supply reached a new record high of $22.3 trillion, and the Treasury repurchased $2.8 billion of its own debt. Global liquidity is increasing rapidly, but since the necessary environment for this to flow into cryptocurrencies has not been created, crypto is losing blood. If the midterm elections rein Trump in on his “nonsense,” we could see strong rallies begin as AI growth accelerates and crypto takes a share of the rapidly growing liquidity.
Bitcoin (BTC)
JA_Maartun, one of CryptoQuant analysts, is the largest institutional Bitcoin He drew attention to the recent intensified purchases of whale Strategy. We saw such intense purchases in the November elections and BTC started a big rally. It is not known whether the same will happen again, but the purchasing intensity shows that the company considers these levels as the bottom.
Michale Poppe 21-day moving average ETHBTC It is expected to be regained at parity.
This chart, which also confirms the meltdown in altcoins, shows the potential for recovery from the local bottom. This will mean the rise of altcoins led by ETH.
