“Plus: Eth’s Rally Might Be in Its Early Stages, But There Are a Few Headwinds Holding It Back”, – WRITE: www.coindesk.com
Ethereum Surged Past $ 2,600 in Early Asia Hours, Up 3.7%, Breaking Decisively Above Its Previous Resistance Level of AROUND AI-Assisted Technical Analysis Model.
The Rally Is Supported by Robust Trading Volume and Significant Institutional Confidentnce, Underscored by $ 248 Million in Net Inflows Into Spoto Ethereum Etfs Last Week Trust. Defi Activity Is Also Strengthaning, with Ethereum’s Total Value Locked (TVL) Rising 3.59% Over The Last 24 Hours to $ 64.37 Billion, Accounting To Denfi Llama.
However, The Rally Faces Potential Headwinds. Ethereum’s Active Addresses Currently Sit at 406,180, Nearly Flat Compared to Approximately 430,000 Addresses One Year Ago, Indicating Muted User Growth.
Additionally, Stablecoin Flows Reveal Mixed Signals; Traditional Stalwarts USDT and USDC REMAIN RELATIVELY FLAT, WHILE EMERGING STABLECOINS SUCH as Ehenna’s USDE and BUIDL DEMONSTRATE STRONGER GROUNER GROWHINTS WINDS, SIGNALING Shifling Shifer. EcoSystem. Despite Bullish Momentum and Strong Institutional Backing, Subdored Retail Investor Participation and Tepid User Growth Suggest This Rally Could Face Near-Term Constraints.
Bitcoin Soars While Luxury Watches Stall: A Pandemic-Era Correlation Breaks DownBitcoin (BTC) and Luxury Watches, Once Pandemic-Aera Companions Buoyed by Stimulus and Specialty Exuberance, Have Sharpy Diver, Have Diver, ADAGINGSTHATH DATA DATA SHOWS, WEARTHKET DIGING SURDA To Coindesk Market Data, While WatchCharts.com Luxury Watch Index Fell by 4%.
As Recently As Mid-2023, Prices for Bitcoin and Luxury Watches Moved Closely in Tandem, Buoyed by Central Banks and Governments Injecting Substantial Liquetia. However, The Two Have Since Taken Distinctly Different Paths.
Okx Global Chief Commercial Officer Lennix Lai Attributes Bitcoin’s Sustaned Upward Trade -to -Increated Institution Adoptation and Maturation AS a Credible Asset.
In Contrast, The Secondary Market for Luxury Watches Has Cooled Significantly from Its Pandemic Peak. “The Real Collecters Stayed in Watches While Speculators Moved On, and Bitcoin Has Matured to Take It Place in Many Investors’ Portfolios,“ Lai Said. “Watches Make Great Heirlooms, But I’ll Take Bitcoin Any Day As A Generational Asset. You Can’T Lose It, Scratch It During a Move, Or Have Its Se.
Yet, in Recent Months, The Luxury Watch Market Has Shown Early Signs of A Modest Recovery, Posting A 0.3% GAIN Over The Last Three Months.
Jake Pedskier, Founder of Watches.io, Credits This Rebound to Externally Economic Pressures Racher than Renewed Crypto-Driven Speculation. He Notes Rising Tariffs and Surging Gold Prices As Key Catalysts.
“Gold and Silver Are Decent Proxies for the Watch Market,“ P journaeer Explained, Highlighting Rolex’s January Decision to Raise MSRP BY 14% FOR ITS GOLD Models.
He Aded that Crypto’s Lasting Impact on Luxury Watches is Primarily Demographic: Traditionally Never Willd Have Been Purchased by This Type of Clientele. ”
Circle Prepares for Ipo Filing
Circle Internet Group, The Issuer of Stablecoin USDC, Has Filed for An Initial Public Offering Each, Coindesk Previoously Reported.
The Company ITSELF OFFER 9.6 MILLION Shares, Potentally Raising Nearly $ 250 Million, While Selling Stakeholders Are Providing An Additional 14.4 Million Shares, Possibly Earning CLESS.
Cathie Wood’s Ark Investment Has Indicated Interest in Purchasing $ 150 Million Wrth of Shares Durying The IPO, WHICH IS Being Managed by Joint Lead Active Bookrunners JP Morgan.
The IPO Filing Follows Previous Unsuccessful Attemphts, Including A Failed Spaac Deal in 2021 and A Brief Consideration of A $ 5 Billion Sale to Firms Such as Coinbas.
MARATHON DIGITAL CEO SAYS US GOVERNMENT SHOUKT MINE BTCMARATHON DIGITAL CEO FRED Thiel URGED THE U USE GOVERNMENT TO STARTIVELY MINial Bitcoin to Fulfill President Trump’s Directive for a Strategic Bitcoin Reserve, Suggesting Excel Hy Mining Operations, Coindesk Previoously Reported.
Speaking at Bitcoin 2025, Thiel Emphasized The Necessity of Tangible Steps Beyond the Current Plan of Using Approximately 200,000 Seized Bitcoins from Government Forfeitures. Senator Cynthia Lummis Supports This Broader Vision Through Her Proped Bitcoin Act, Advocating for Converting Underforming Government Gold Certificates Into Bitcoin Tovan.
However, Lummis Acknowledges Significant Legislative Hurdles Remain, Citing A General Lack Lack of Congressiona
Market Movements:
- BTC: Bitcoin Bounced Back Strongly from A Correction to $ 107.604, Stabilizing Just Below Key Resistance at $ 110,000, Supported by Easing Eu Trade Tensions and Contin. Access to Coindesk Research’s Technical Analysis Model.
- Eth: Ethereum Broke Decisively Above $ 2,600 On Strong Institutional Etf Inflows and Rising Defi Activity, Thought Flat Active Address Growth Could Limit Limit Further Upside.
- GOLD: Gold Currently Trades at $ 3,315.30 PER OUNCE, DOWN 0.77%, As Citi Upgrades Itar-Term Forecast to Between Term Amid Expectations of Economic Improvement and Fed Rate Cuts.
- Nikkei 225: Japan’s Nikkei 225, WHICH OPENED AT 38,003.67 On Wednesday, Is Forecasted to Rise Approximately 5% to 39.600 by Year-end, accounting to a Reuters Poll. Near-Term Valativity Remoned Likely, with Analysts Predicting Further Gains to 42,000 by the end of 2026.
- S&P 500: The Benchmark S&P 500 CLOSED ABOUT 2.1% Higher Tuesday, Boosted by Optimism Over a delayed Immplementation of US-EU Tariffs and Improved Prospects for A Trade Agreement.
Elsewhere in Crypto …
- The Spirit of ’68: How Capital Markets Made America Wealthy (Blockworks)
- ‘Crypto King of Kentucky’ Arrested for Allegedly Torturing Man with Saw and Electricity in Bid to Steal His Bitcoin (Fortune)
- As Bitcoin Treasury Strategies Proliferate, One Company Eyes Big Eth Buys (Blockworks)
- Cracking Bitcoin-Like Encryption Through Quantum Computing Could be 20x Easier than Thought (Coindesk)
- 10x Research Recommends Bearish Bet on Bitcoin-Holder Microstrategy As Mstr Diverges from Btc’s Bull Run (Coindesk)
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