💵 💴 💶Bitcoin Rises to $94,000 Amid Trump’s Crypto-Friendly Executive Orders💴 💶

Bitcoin has surged back to $94,000 following reports that Donald Trump, on his first day in office, is preparing to sign crypto-friendly executive orders.

Crypto Council Nearing Finalization: Trump and His Team Select 24 Members

Trump, along with his advisors, has already established the backbone of the Crypto Council. Reports indicate that Trump has identified 24 individuals for the council and has held discussions with most of them. Notably, David Sacks is reported to have participated in these meetings. Trump has pointed to Bo Hines as the council’s leader, stating, “Bo Hines will work with David Sacks for the advancement of the crypto world.”

U.S. Tightens Oil Sanctions Against Russia

The U.S. has announced tighter oil sanctions against Russia, leading to a surge in oil prices. These sanctions target production and export flows and may eliminate the expected surplus in the oil market this year. Key measures include:

• A ban by the U.S. Treasury Department on American oil service companies operating in Russia, effective February 27, 2025.

• 183 vessels added to the sanctions list, most being oil tankers part of Russia’s “shadow fleet.”

• Sanctions imposed on traders facilitating Russian oil trade.

• Two Russian insurance companies, Ingosstrakh and Alfastrakhovanie Group, added to the sanctions list.

• Sanctions against oilfield service providers and Russian energy officials.

Technical Overview

DXY

DXY On the daily chart, the DXY has broken out of a descending wedge structure and appears to be maintaining its upward trend. It is currently trading at the 109.85 level. As long as the horizontal support level of 105.68 is not breached, the upward trend in the DXY is likely to continue for some time. If the trend persists, the potential resistance levels are 112.34 and 115, respectively. Should the price break out at the 112.34 region with significant volume, the uptrend may extend toward the 115 levels.

Resistances: 112.34 / 115.00 / 120.76
Supports: 107.34 / 105.68 / 104.38

BTC/USD

Bitcoin, after a sharp pullback, has retraced to $89,800 and is holding above a key horizontal support level. If this support is lost, Bitcoin may decline further to $87,100. However, maintaining above this support increases the likelihood of a trend reversal.

Resistance: 108,985 / 118,500 / 123,550
Support: 92,000 / 88,362 / 83,365

ETH/USD

Ethereum has fallen to $2,950 after breaking below the $3,539 support level, entering a downtrend. To see a recovery, Ethereum must close above $3,539, which could trigger a market-wide rebound. The $3,110 level serves as a key support zone to monitor.

Resistance: 3,539 / 4,086 / 4,782
Support: 3,110 / 2,808 / 2,134

NASDAQ

The uptrend in the index continues to strengthen within the ascending channel structure on the weekly charts. In the short term, alongside the descending channel it has formed, a potential breakout above resistance could lead to a short-term uptrend toward the 22,143 level. On pullbacks, the key support level to watch is the 19,643 zone.

Resistances: 22,143 / 25,320 / 26,979
Supports: 19,643 / 17,681 / 16,303

BRENT

Brent oil shows medium-term recovery and has regained its previous channel structure, maintaining its uptrend. After surpassing the 76.98 resistance, sustained momentum above this level could push prices to the 80.00–82.00 range. The critical support level is at 72.37.

Resistance Levels: 80.00 / 85.84 / 95.53
Support Levels: 76.15 / 70.17 / 69.00

EURUSD

The Euro formed a double top at the 1.11 level and entered a downtrend. After breaking below the 1.10 support, it has retreated to the lower band of its channel at 1.0367. Buyers may step in at this critical support, but a break lower could see further declines to 1.018.

Resistance Levels: 1.0575 / 1.1043 / 1.1213
Support Levels: 1.0180 / 0.9936 / 0.9542

XAUUSD

Gold has gained momentum after rebounding from the 2610 support zone, resuming its upward trend. Breaking through the key resistance at the 2666 level with strong volume, it continues its bullish path. However, it may retest the recently broken resistance level. In case of a pullback, 2665 will serve as a key support zone to monitor.

Resistance Levels: 2717 / 2756 / 2790
Support Levels: 2666 / 2589 / 2550

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