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Open interest as well as funding rates have clearly come down recently but it seems that price action is ripe for a breakout. BTC has finally broken above the 20-day moving average and is about to break above a consolidation zone on the 4h timeframe.
Altcoins are looking interesting for a rebound at these levels, especially SOL, SUI and TAO. SUI → Stop $2.9; Target $5.05 (Risk reward 4x) SOL → Stop $160; Target $260(Risk reward 7x) TAO → Stop $350; Target $745 (Risk reward 3x)
Yesterday brought a series of noteworthy developments for the cryptocurrency space. Former President Trump made bold statements, claiming that he had put an end to Joe Biden’s stance on Bitcoin and crypto, and expressed his commitment to making the U.S. the global leader in crypto. Additionally, he is reportedly exploring the idea of redistributing 20% of Elon Musk's DOGE holdings to American citizens, with another 20% directed toward reducing national debt. Trump also voiced support for a "DOGE dividend" tax refund for all taxpayers.
Meanwhile, the market absorbed the latest Federal Reserve minutes from January, which indicated that policymakers are focused on curbing inflation further before considering any rate cuts. They also raised concerns about the potential economic impact of President Trump’s tariffs, which could complicate efforts to lower inflation.
In a separate development, S&P Global Ratings highlighted the lack of clear regulatory frameworks as a significant barrier to broader institutional adoption of stablecoins. Proposed U.S. legislation, including the Senate’s GENIUS Act and the House’s STABLE Act, aims to provide much-needed regulation for stablecoins, particularly those exceeding a $10 billion market cap. Once these regulatory structures are in place, stablecoins are expected to become an integral part of global financial systems and transactions.
The News Room
Brazil Set to Launch World's First Spot XRP ETF After Regulatory Approval
Brazil’s Securities and Exchange Commission (CVM) has approved the Hashdex Nasdaq XRP Index Fund, paving the way for the world’s first spot XRP ETF. The fund is currently in its pre-operational phase and will be listed on Brazil’s B3 exchange, though Hashdex has not yet announced a launch date. Meanwhile, the U.S. SEC is reviewing multiple spot XRP ETF applications from 21Shares, Bitwise, Grayscale, and CoinShares. The approval follows Trump’s pro-crypto stance, with regulatory clarity increasing under the SEC’s new crypto task force. Speculation also surrounds a potential Ripple-Trump collaboration after Trump shared XRP-related news.
Strategy Unveils $2B Convertible Notes Offering to Acquire More Bitcoin
Strategy (formerly MicroStrategy) has priced a $2 billion senior convertible note offering to fund additional Bitcoin acquisitions and operating expenses as part of its 21/21 plan to raise $42 billion in debt and equity. The 0% coupon notes, maturing in 2030, convert at $433.43 per share, a 35% premium over Strategy’s current stock price. This move follows BlackRock increasing its stake to 5%, signaling strong institutional interest. Strategy now holds 478,740 BTC (~$46.4B), with unrealized gains exceeding $15 billion, despite reporting a $670M Q4 loss due to aggressive Bitcoin accumulation.
SEC Acknowledges 21Shares' Proposal to Enable Staking in Ethereum ETF
The SEC has acknowledged a 19b-4 filing from Cboe BZX Exchange on behalf of 21Shares, seeking approval to stake ETH held by the 21Shares Core Ethereum ETF. If approved, staking would generate additional returns on the ETF’s ETH holdings, potentially benefiting investors. The move follows NYSE Arca’s recent filing for Grayscale’s Ethereum ETFs to permit staking. Under Trump’s administration, the SEC has taken a friendlier stance on crypto, with its new task force working to classify some tokens as non-securities, potentially paving the way for institutional staking adoption.
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