Market Bottom? 🍿 Degen Netflix Director's Crypto & Car Buying Spree, FOMC, AI Tricks, Dodgy Solana Ad & More...

Hello & Welcome to this week’s CoinCentral Newsletter.

This week we started seeing some green after a dismal few weeks where talk of Tariff’s and other macro factors have been dragging us down. A few analysts this week have stated they think we have bottomed.

The memecoin mania seems to be over for now, finally!. The FOMC meeting was ok, so let’s keep a look out for the weekly close and just maybe we can start thinking about a proper alt season? Maybe…

Waiting for the new Netflix series from Ronin 47 director, Carl Rinsch? You might be waiting a while as he used the $11 million he was given to produce it and spent it gambling on stocks, trading Dogecoin and buying Rolls Royces! In fact, he bought 5 Rolls and a Ferrari. A true degen. 🫡

Seen the new Solana advert? It was so cringe it caused a stir on CT, was subsequently pulled and then the CEO of Solana Labs just apologized for it. 

That's it for this week…

Here's this week's sponsor and then handing over now to Trader Edge for the market news. Have a good weekend!

Oli D.

WIN A TESLA MODEL Y! Join Bitget Exchange Today

This week’s newsletter is sponsored by Bitget

Ready for a Better Trading Experience? Discover Bitget

Tired of clunky interfaces and high fees cutting into your crypto gains? Bitget delivers the trading experience you deserve with lightning-fast executions and industry-leading security.

Signup using our link to enter the Bitget easter egg hunt and win a Tesla Model Y!

Why thousands of traders are switching to Bitget:

• Superior Trading Tools — Access advanced charting, one-click trading, and customizable interfaces

• Lower Fees, Higher Profits — Enjoy some of the most competitive fee structures in the industry

• Diverse Asset Selection — Trade hundreds of tokens and trading pairs

• Institutional-Grade Security — Rest easy knowing your assets are protected

Market Recap

Hey, Trader Edge here. A Quick bio before we dig in to the markets this week…

I’m a full-time trader of futures, crude oil, and crypto with almost 10 years of experience in the markets. Excited to be working with the team at Coin Central & sharing my insights and analysis with you.  If you have any questions or need any advice, please get in touch on X.

Right, let’s dig in..

SPX (S&P 500) Overview

The SPX dropped below the key support level of $5700, and it’s now acting as resistance. Bulls need to push the price above this level and turn it into support. Failure to regain this level could see a drop to the next support level at $5400.

Recently the market has shown some positive signs for a potential reversal. The last three times the RSI was this oversold on the daily timeframe, we saw a reversal. Additionally, Monday was the first time in four weeks we’ve had two green days in a row.

Today is Triple Witching Friday when stock options, index options and futures contracts all expire at the same time so expect some volatility in the markets.

Bitcoin Overview

The bullish divergence on the daily chart played out with a nice bounce from 76k. BTC is currently battling with the 200-day moving average. If the bulls can flip this level to support, we could see a move toward the 90k resistance zone. This is a big resistance level and will likely be tested a few times before breaking through.

If the market remains weak and we lose the 76k low, we could see a drop to the demand zone at 73k where a bounce or reversal is likely.

Although the daily chart looks bearish, if you zoom out, BTC is still in a solid uptrend on the weekly timeframe.

XRP Overview

Price is trading in a range between $2 and $3 with no clear direction. We’re starting to see the formation of a symmetrical triangle similar to December. Price can trade within this triangle for another few weeks before we get a resolution so don’t be suprised to see some boring price action.

A breakout to the upside should open the door for a test of the $3 resistance level. If that level is flipped into support, we could see a move towards all-time highs.

If the stock market remains weak, I wouldn’t be surprised to see another dip towards the $1.60 demand zone, which lines up with the 61.8% Fibonacci retracement. This could be a great buying opportunity!

Wrap

The Federal Reserve decided to keep interest rates unchanged at the FOMC meeting on Wednesday. However, the Fed still anticipates two rate cuts by year-end.  Markets responded positively to the news, particularly to the announcement of a slowdown in quantitative tightening (QT). The Fed stated it would reduce the monthly cap on Treasury redemptions from $25 billion to $5 billion.

Fed officials are expected to maintain rates as they assess the effects of Trump's trade policies in the midst of inflation and slowing growth. In the bigger picture, it seems that cuts to government spending and tariffs might weaken the economy enough to warrant a more dovish Fed policy in the future, this would be a big positive for risk on assets. There is a lot of money sitting on the sidelines, as soon as the macro conditions improve, we should see it flood into the crypto market!

Until next time!

Trader Edge.
Follow on X

News Recap

Here’s our coverage of the biggest stories this week…

• Green Light for Miners: SEC Clarifies Proof-of-Work Mining Falls Outside Securities Law

• Cryptocurrency Entrepreneur Jed McCaleb Funds $1 Billion Space Station Project

• South Korean Prosecutors Raid Bithumb Over Alleged $2.3 Million Corporate Fund Misuse

• Bitcoin Price: Seems to have bottomed and is starting to creep back up.

• Malware Warning: Don’t download any dodgy cracked software from Reddit.

• PI Network: Has been on a tear, what’s up next for this coin?

• Fed Holds Interest rates: And signals end of QT

• Kraken Acqures NinjaTrader: And getting into futures trading.

• Solana CEO Apologies for Cringe Advert which was pulled.

• EOS is Rebranding to Vaulta: Price surges on Token swap announcement.

• Stocks, Crypto & Luxury Cars: Netflix Filmmaker Charged with Misusing $11 Million Production Funds

• Radium (RAY) Price Surges 28%: Following LaunchLab Meme Coin Platform Announcement

• AIXBT AI Agent Tricked into handing over 55ETH

• Coinbase Introduces KYC-Verified Liquidity Pools for DeFi Trading on Base

• Microsoft Identifies StilachiRAT Malware: Threatens Chrome-Based Crypto Wallets

Never a dull week is it? See you this time next week….

DISCLAIMER: This newsletter is provided for educational purposes only and does not constitute financial advice. The content herein is not an investment recommendation or a solicitation to buy or sell any financial instruments or assets. Readers are advised to conduct their own research and exercise caution in making any financial decisions.