Weekly Economic Expectations:
| Date | Time | Currency | Event | Expectation | Previous Data Announced |
|---|---|---|---|---|---|
| January 28 Tuesday – January 31 Friday | Chinese New Year Holiday | ||||
| January 29 Wednesday | 22:00 | USD | Fed Interest Rate Decision | %4.50 | %4.50 |
| January 29 Wednesday | 22:30 | USD | FOMC Press Conference | ||
| January 30 Thursday | 16:15 | EUR | ECB Interest Rate Decision | %2.90 | %3.15 |
| January 31 Friday | 16:30 | USD | Core Personal Consumption Expenditures Price Index (YoY) | %2.80 |
-Last week, the CBRT announced its interest rate decision. The policy rate was lowered from 47.50% to 45.0% with a 250 basis point move, in line with expectations.
-Donald Trump declared his full support for Bitcoin and stated that the United States would take the lead in the cryptocurrency sector. Bitcoin Magazine CEO David Bailey shared details of an interview with U.S. President Donald Trump. Bailey thanked Trump for supporting the cryptocurrency sector and fulfilling his promises regarding significant figures like Ross Ulbricht.
-ECB Executive Board Member Piero Cipollone called on EU banks to accelerate their efforts in implementing the digital euro. These statements came after U.S. President Donald Trump signed an executive order that could impact stablecoin regulations.
-The cryptocurrency market was shaken by a sudden decline over the past 24 hours. Bitcoin drew attention with a 5.8% loss in value, while leading altcoins like Ethereum, Solana, and Ripple also joined the downtrend. This movement has raised concerns among investors, highlighting the volatility in the market once again.
The First FOMC Meeting of the Year by the US Federal Reserve Will Take Place on January 29
The market does not expect a rate cut, leading investors to distance themselves from risky assets. This situation is putting pressure on Bitcoin prices. Economists anticipate that the Fed will hold interest rates steady at this meeting. However, rate cuts are expected later in the year, with projections suggesting a total reduction of 50-75 basis points throughout 2025.
Bitwise Asset Management Takes Action for a Dogecoin ETF!
Bitwise Asset Management, one of the leading index fund managers in the cryptocurrency market, has officially applied to create a Dogecoin Exchange Traded Fund (ETF) in Delaware. The company’s Chief Investment Officer, Matt Hougan, confirmed the filing and told The Block: “This application was submitted by Bitwise.” This move has drawn widespread attention in the crypto world. Originally launched as a joke project in 2013 by software engineers Billy Markus and Jackson Palmer, Dogecoin evolved into an impressive ecosystem supported by a strong community. Notably, during the Trump administration, policies focusing on innovation, such as the Government Efficiency Department, brought renewed attention and popularity to Dogecoin.
TRUMP Meme Coin Launch Sets a Record for Solana
A groundbreaking development in the cryptocurrency world occurred with the launch of the TRUMP meme coin, which significantly boosted activity within the Solana ecosystem. This launch led to a historic surge in active addresses on the Solana network, reaching an unprecedented 832,000 per hour. This figure is approximately 26 times the number of active addresses on Ethereum during the same time frame, where only 31,000 active addresses were recorded.
Tax Advantages for US-Based Crypto Projects Coming Soon
According to The Street, Eric Trump announced that several prominent US-based crypto projects might soon benefit from zero capital gains tax advantages. This announcement has sparked significant discussion within the crypto world. Reports suggest that projects like XRP and HBAR could benefit from this regulation. However, foreign crypto projects are expected to face a capital gains tax of approximately 30%. Eric Trump’s statements are being viewed as a move to support the US’s leadership ambitions in the cryptocurrency sector.
Elon Musk Proposes Blockchain Solutions for Government Spending
Elon Musk, through the Government Efficiency Department (DOGE), plans to use blockchain technology to monitor federal spending and improve efficiency. According to Bloomberg, Musk is considering a blockchain-based ledger system to track government expenditures, secure data, and process payments.
BTC Market Analysis
Let’s take a look at ITB’s analysis for Bitcoin:
The proportion of investors making profits at the market price stands at 86%, indicating that the recent decline in Bitcoin has reduced the profit margin. Whale transaction volumes have risen to $168.09 billion. ITB analysis reveals ”2 neutral”, ”1 bullish”, and ”2 bearish” market expectations for Bitcoin.
“The investment information and comments included in this research report do not constitute investment advice.”
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