Weekly Crypto Market Wrap February 3-February 9, 2025
After a significant decline, the crypto market spent the past week moving sideways, without a clear trend direction. The Fear and Greed Index settled at 35, indicating a prevailing sense of caution among investors. Market participants are still digesting recent events and opting for a wait-and-see approach to avoid rushed decisions.
The situation remains tense, with external factors continuing to influence market dynamics. Among them are political developments and statements, such as new trade tariffs proposed by Donald Trump’s administration, which could impact global markets.
At the same time, there were some positive signals. Tornado Cash co-founder Alexey Pertsev was released, marking an important event for the crypto community. Let's dive into the key news in more detail:
El Salvador is under pressure: BTC is no longer mandatory for payments. The authorities in El Salvador have finally given in to pressure from the IMF and revoked Bitcoin’s status as a mandatory means of payment. Its acceptance is now voluntary.
SEC reviewing applications for SOL and LTC ETFs. Some may say, "SEC again?" Yes, but this time, Grayscale has announced a potential Solana ETF and is also looking to convert its LTC trust into an ETF. It seems more investment tools are emerging for those who prefer ETFs over direct crypto purchases.
MicroStrategy is no longer "micro"… Just Strategy. Embracing minimalism, MicroStrategy has rebranded itself as simply Strategy. Sounds solid, but along with the name change, the company has also ended its 12-week BTC buying streak. Moreover, its Q4 report revealed a net loss of $670 million.
Alexey Pertsev is free! Tornado Cash co-founder Alexey Pertsev has finally been released. After months of waiting, this news comes as a breath of fresh air for the decentralized community. The outcome of this story remains to be seen, but his release alone is already symbolic.
BlackRock strengthens its position. BlackRock has increased its stake in Strategy, buying more shares and boosting its influence to 5%. The world's largest investment fund is taking crypto-oriented strategies seriously.
Arkham identifies 20,000 Satoshi Nakamoto wallets. Arkham Intelligence claims to have added 20,000 wallets belonging to Satoshi Nakamoto to its platform, with a total balance of 1,096,354 BTC. Who would have thought Satoshi left such a trail? Though it’s possible these wallets belong to someone else—it’s unlikely to be that simple.
FTX moves toward compensation. A bit of good news for affected investors: FTX’s Bahamian division will start issuing refunds on February 18, with major compensations planned for March 4. A long-awaited step toward recovering lost funds.
The Czech President grants tax exemption for holders. Great news for crypto holders in the Czech Republic! Bitcoin is now exempt from capital gains tax if held for more than three years. This might be the best incentive for long-term investments yet.
Scammers target Jupiter. Cybercriminals are at it again. This time, they hacked the Jupiter project’s Twitter account to promote scam tokens. Remember, friends—never click on suspicious links! Learn how to avoid crypto scam schemes here.
Upcoming major token unlocks:
CHEEL: $167.33m
CONX: $88.19m (376.3%)
SAND: $78.57m (8.4%)
APT: $68.54m (2.0%)
BERA: $65.68m (12.2%)
ARB: $42.42m (2.1%)
SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.
