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- News on Bitcoin Week 6 of 2025
News on Bitcoin Week 6 of 2025
Weekly crypto update on all things Bitcoin to keep you updated
TL;DR
BTC is down
Bitcoin dominance is up
Bitcoin Dominance Rises Above 60% as Altcoins Bleed
Bitcoin Falls Below $100K as Trump’s Tariffs Shake Markets
MicroStrategy Halts Bitcoin Buys, Holds $30B
Trump Media Launches Bitcoin ETF Under Truth.Fi
Maryland and Kentucky Push Bitcoin Reserve Bills
Franklin Templeton Plans BTC ETF Expansion
Bitdeer Expands in Canada but Faces Stock Woes
Bitcoin Mining Output Declines Amid Rising Difficulty
CleanSpark Soars on Bitcoin Boom
And much more!
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Bitcoin Price
Crypto is down this week, with BTC up by 6.1% and ETH down by 21.6%:
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Bitcoin dominance has increased over the week, starting from 55.5% to a high of 59.61% and ending at 59.0%. Investor sentiment, regulatory changes, technological advancements, and the overall growth of the cryptocurrency sector shape Bitcoin's market dominance. Its reputation as "digital gold" also enhances its position, making it a key player in the market.
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It’s going to be interesting to see whether this trend will continue in the short term, as capital in crypto tends to flow initially to BTC and then further out on the risk-curve, starting with altcoins like ETH and then into mid- or low-cap coins.
The cryptocurrency market is facing a sharp correction, with total market capitalization dropping over 2.5% to around $3.15 trillion. Bitcoin is trading near $96,400, while Ethereum has led the downturn, losing 5% in the past 24 hours to fall below $2,700.
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Source: Coin360
Other major assets, including Solana, Dogecoin, and Cardano, have also posted steep declines, reflecting widespread risk aversion ahead of key U.S. economic data.
One of the primary drivers of the market downturn is liquidations. Over $250 million worth of leveraged positions have been wiped out in the past 24 hours, with Ethereum long positions accounting for $32.75 million in losses. The dominance of long liquidations suggests the market was overleveraged, making it vulnerable to rapid declines.
Macroeconomic uncertainty is also weighing on sentiment. Investors are closely watching the upcoming U.S. jobs report, which could impact Federal Reserve policy.
A stronger-than-expected report may delay anticipated rate cuts, tightening financial conditions and dampening appetite for risk assets like Bitcoin. Market expectations currently place an 85.5% probability on the Fed keeping rates steady in March, with the first cut likely in June.
Technical indicators point to a potential breakdown in the broader market structure. The TOTAL index, which tracks the total crypto market cap, is testing a key support level at $3.11 trillion.
A sustained drop below this level could trigger a retest of the 50-day moving average near $2.55 trillion, with further downside potential toward $2.25 trillion if selling pressure intensifies.
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Despite the bearish conditions, some analysts view this correction as a strategic buying opportunity. The Fear and Greed Index has plunged to 35, signaling high levels of fear, a zone that has historically preceded market recoveries.
However, near-term risks remain, with the Federal Reserve’s stance, broader stock market performance, and potential geopolitical tensions playing a crucial role in determining Bitcoin’s next move.
Bitcoin (BTCUSD) Analysis:
As of February 7, 2025, Bitcoin (BTC) is trading at $97,467, down 0.19% on the day. The short-term outlook is slightly bearish, with support at $92,600 and resistance at $101,400. A breakdown below support could trigger further downside. In the medium term, Bitcoin remains slightly positive, with key levels at $92,000 (support) and $105,000 (resistance). The long-term trend remains bullish, with support at $72,000 and no clear resistance, indicating potential for further gains.
Expected Trading Ranges:
Bitcoin (BTC): Support at $92,600; Resistance at $101,400.
Market Outlook:
Bitcoin’s outlook remains uncertain as macroeconomic factors weigh on risk assets. The upcoming U.S. jobs report could impact Fed policy expectations, influencing Bitcoin’s price action. Key support sits near $96,800, with a break lower risking a dip to $95,000. Resistance at $100,000 remains a hurdle. Institutional demand and ETF inflows support long-term growth, but short-term volatility persists amid liquidation risks and market caution.
BTC/ETH ratio has seen an increase:
Over the past six days, the BTC to ETH exchange rate has seen a general increase, rising from 32.15 ETH on February 1 to 36.74 ETH on February 8. This marks an overall gain of 14.3%, despite some daily fluctuations, including a 3.22% drop on February 5. The trend has been largely upward, with notable surges on February 2 (+6.28%) and February 6 (+3.96%), indicating stronger Ethereum performance relative to Bitcoin over the week.
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“This feels a lot like the COVID-19 Black Swan crash, as the markets have witnessed a more than 50% wipeout on #Altcoins. We all know what happened after and I think that that’s the same thesis here.”
Financial News
Bitcoin dominance surged past 60% amid a crypto market downturn triggered by Trump’s tariffs. While BTC dropped 7.3%, altcoins suffered steeper losses—ETH fell 9.3%, XRP 13.8%, and SOL 19.3%. Investors fled risk assets, fearing inflation and prolonged high interest rates. Analysts predict more short-term pain, with BTC potentially dipping to $95,000.
Market sentiment remains fragile, exacerbated by a tech stock decline and concerns over China’s DeepSeek R1 AI model. Some experts warn that Trump’s pro-crypto stance may not yield quick regulatory wins, leading to continued volatility in both crypto and broader financial markets.
Bitcoin dropped under $100,000 after Trump’s new tariffs on Canada, Mexico, and China triggered market turmoil. The executive order, citing fentanyl concerns, imposed steep levies, prompting retaliation from affected nations. Over $500 billion was wiped from digital assets, with altcoins hit hardest.
Analysts are divided on Bitcoin’s future, with some seeing tariffs as bullish long-term, while others warn of further declines. Key support at $97,190 is crucial, as traders watch inflation risks and Federal Reserve policy shifts that could impact Bitcoin’s trajectory. Meanwhile, Robert Kiyosaki remains bullish, predicting BTC will hit $175K–$350K by year-end.
MicroStrategy has temporarily paused its Bitcoin purchases after accumulating 471,107 BTC worth $30.4 billion at an average price of $64,511 per coin. The halt follows three months of aggressive buying, during which the company acquired over $20 billion in BTC. Despite this, MicroStrategy’s stock rose 0.89%, signaling investor confidence.
The pause raises speculation about a strategic shift, potential market concerns, or adjustments in treasury management. As the largest corporate Bitcoin holder, MicroStrategy’s next moves will be closely watched, especially amid increasing institutional interest and evolving market dynamics.
Binance CEO Richard Teng highlighted the growing role of institutional investors and regulatory clarity in driving Bitcoin adoption. The U.S. spot Bitcoin ETF market amassed $44.2 billion in its first year, with January 2025 alone seeing $5 billion in inflows. Despite retail investors comprising 80% of ETF demand, institutional interest is rising, with investment advisers and hedge funds leading.
Teng emphasized that institutional participation is making crypto integral to the financial system. Meanwhile, Trump Media filed trademarks for ETFs linked to Bitcoin and energy independence, signaling further mainstream financial integration of digital assets.
Bitcoin recorded its first-ever $10,000 single-day price jump, dubbed the “God candle,” despite global market declines triggered by the “Trump Tariff Crash.” While stocks and altcoins plunged, Bitcoin’s resilience stood out, fueling speculation about an eventual “Omega candle” with a $100K daily surge.
Analysts like Pierre Rochard and Cory Klippsten noted the milestone, emphasizing Bitcoin’s growing market maturity. Meanwhile, Michael Saylor celebrated his 60th birthday amid Bitcoin’s historic price action. As Bitcoin continues to defy expectations, the question remains: is this a glimpse of more explosive moves ahead?
Adoption News
Trump Media and Technology Group (TMTG) is entering the ETF market with Truth.Fi, launching products like the Truth.Fi Bitcoin Plus ETF, alongside funds focused on U.S. manufacturing and energy. Custodied by Charles Schwab and advised by Yorkville Advisors, the Bitcoin ETF faces stiff competition but highlights Trump’s growing crypto ambitions.
While this move could boost mainstream crypto adoption, it also raises concerns over potential conflicts of interest and brand dilution. As Trump balances regulatory influence and business expansion, the initiative underscores his strategic positioning in both politics and the financial sector.
President Donald Trump has signed an executive order to create a U.S. sovereign wealth fund, fueling speculation that it could lead to government Bitcoin purchases. While the EO directs Treasury Secretary Scott Bessent and Commerce Secretary nominee Howard Lutnick to monetize U.S. assets, Bitcoin wasn’t explicitly mentioned.
Senator Cynthia Lummis hinted at BTC involvement, and industry advocates suggest pro-crypto officials could push for it. Trump’s previous crypto-friendly promises add to speculation, though legal challenges could arise. Bitcoin’s price briefly dipped below $100K amid tariff concerns but rebounded past $101K after news of the EO spread.
Maryland and Kentucky have introduced bills to explore Bitcoin as a strategic reserve asset, joining a growing trend among U.S. states. Maryland’s "Strategic Bitcoin Reserve Act," proposed by Delegate Caylin Young, allows the state to invest in Bitcoin using funds from gambling violation enforcement.
In Kentucky, House Bill 376, introduced by Representative T.J. Roberts, seeks digital asset investments, limiting purchases to assets with a market cap of at least $750 billion—effectively favoring Bitcoin. These moves reflect increasing bipartisan interest in state-level Bitcoin adoption, following President Trump’s campaign promise to establish a national Bitcoin stockpile.
Franklin Templeton has filed an amended S-1 for its Franklin Crypto Index ETF, aiming to track Bitcoin (86.31%) and Ethereum (13.69%), with potential additions pending SEC approval. If greenlit, it will list on Cboe BZX, marking a shift toward diversified crypto ETFs. Experts see multi-asset ETFs as inevitable, boosting liquidity and institutional adoption.
The SEC recently fast-tracked approvals for similar funds, including Bitwise’s Bitcoin-Ethereum ETF. With pro-crypto Paul Atkins set to lead the SEC, analysts predict smoother approvals, signaling a more favorable regulatory environment for digital asset investment products.
Australian firm Monochrome Group has registered its Bitcoin (IBTC) and Ethereum (IETH) ETFs with Singapore’s Monetary Authority, allowing institutional investors access through a regulated framework. Partnering with Anadara Capital and BitGo Trust, the firm enhances security and institutional services.
CEO Jeff Yew emphasizes infrastructure over speculation, aligning with Asia’s growing role in crypto regulation. This expansion follows Monochrome’s launch of Australia’s first spot Ethereum ETF. Amid market turbulence, institutions increasingly view regulated crypto ETFs as portfolio hedges. The firm plans further regional expansion in 2025, reinforcing compliance and access to digital assets in Southeast Asia.
Mining News
Bitdeer acquired a 101-megawatt site in Alberta, Canada, as part of its strategy to become a fully vertically integrated Bitcoin miner. The deal gives Bitdeer control over land, power generation, and mining infrastructure, enhancing cost efficiency and scalability.
Despite the expansion, Bitdeer’s stock has plummeted 27.5% in the past month, with investor sentiment turning bearish as short interest rises. Bitcoin’s mining competition has eased, but lower mining rewards and AI sector turmoil have impacted industry stocks. Bitdeer’s Q3 2024 profit fell to $2.8 million, down from $21.1 million a year prior, highlighting ongoing financial pressures.
January saw a drop in Bitcoin production for major miners like Hut 8, Marathon, and Bitfarms due to surging network difficulty, which peaked at 110T. Hut 8’s output fell 27%, while Marathon and Bitfarms saw 12.5% and 4.7% declines, respectively. Riot Platforms defied the trend, increasing production by 2.1%, supported by its new 1-gigawatt Texas facility.
Mining difficulty has surged 27.8% since April 2024’s halving, pushing miners to upgrade equipment. However, difficulty dropped to 108T in late January, hinting at a possible easing of mining conditions as hardware preorders slow.