weekly-report-04-02-2024

Global Market Highlight

U.S. Economy in Early 2025: Strong Housing Market, Controlled Inflation, and Stable Labor Market. The U.S. economy showed strong resilience at the start of 2025, with a solid housing market, moderating inflation, and a stable labor market. New home sales saw a significant increase in December 2025, rising 3.6% from November and growing 6.7% year-over-year. The U.S. Census Bureau reported that 698,000 single-family homes were sold at a seasonally adjusted annual rate, reflecting sustained demand in the housing sector.

The labor market continued to demonstrate strength, with new unemployment claims dropping by 16,000 to a seasonally adjusted 207,000. This figure came in lower than market expectations, indicating that businesses are maintaining their workforce. The Federal Reserve kept the benchmark interest rate steady at the 4.25%-4.5% range, ensuring economic stability after three consecutive rate cuts in 2024. Fed Chair Jerome Powell stated that the central bank will continue monitoring inflation before making further policy adjustments. Inflation showed signs of easing, with the Core PCE Price Index (YoY) reaching 2.8%, aligning with the Fed’s target.

The U.S. economy continued its steady expansion, recording 2.3% growth in Q4 2024. Although slightly lower than the 3.1% growth in the previous quarter, this figure reflects a strong economic foundation. The manufacturing sector also showed signs of recovery, with the Chicago PMI rising to 39.5 in January 2025 after three consecutive months of decline. This suggests that business sentiment is beginning to improve. In the energy sector, the Energy Information Administration (EIA) reported a 3.463 million barrel increase in U.S. crude oil inventories, slightly above market expectations. This rise helps stabilize the energy market and ensures sufficient supply. Overall, the U.S. economy entered 2025 with positive momentum, supported by a strong housing market, controlled inflation, and a stable labor market.

BTC Technical Analysis

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Since January 20, Bitcoin (BTC/USDT) has exhibited a distribution pattern at higher levels before experiencing significant selling pressure. On January 20, BTC reached a high of $109,588 but only formed a wick and closed at $102,260, recording a modest daily gain of 0.92%. This indicated strong supply at the top levels, with selling pressure starting to build.

After that, the price remained relatively stable, with several attempts to hold support around $99,000 - $100,000. However, increasing selling pressure eventually led to a breakdown of this support. On January 27, selling pressure became more evident as a red candle broke through the next support level.

The sharpest decline occurred on February 3, with BTC dropping to a low of $91,231 before making a slight recovery. Currently, the price stands at approximately $100,416. As long as BTC can hold the $99,000 - $100,000 level, there is potential for the uptrend to continue. However, if it fails to maintain this level, BTC could retest support at $93,227.

ETH Technical Analysis

On January 20, Ethereum (ETH/USDT) experienced a significant downtrend, failing to maintain its price above the resistance level at $3,374 and breaking through several support levels. After briefly rebounding at the first support level at $3,063 and testing the resistance range between $3,325 - $3,374, the price once again failed to break through and declined further.

The most dramatic drop occurred in early February, where Ethereum fell to a low of $2,111 before making a slight recovery. This movement indicates strong bearish momentum, breaking the previous higher low structure and invalidating potential bullish setups. Currently, ETH is trading around $2,509.50, with the $2,700 level acting as support. If buyers fail to reclaim this zone, Ethereum could potentially retest support near $2,100. Conversely, a successful rebound could push the price toward the $2,750 - $2,900 range, though the overall trend remains bearish for now.

SOL Technical Analysis

From January 20-25, Solana (SOL/USDT) traded sideways, holding above the $250 level. This $250 level acted as a resistance zone, and if it held, there was potential for Solana to reach a new all-time high (ATH). However, on January 26, the price broke through this level and continued its decline. The sharpest drop occurred on February 3, when Solana broke through support at $203.40 and hit a low of $175.89 before bouncing back to the $203.40 level.

Currently, the price is hovering around $196, still below the $203.40 resistance level. If the price fails to reclaim this level, Solana is likely to retest support around $175 - $180. Conversely, if it manages to break above $203.40 and sustain its position, a recovery toward the $220 - $230 range could occur, although the short-term trend remains bearish.

Disclaimer:
This material is for general information and is not investment advice, a recommendation, or a solicitation to buy and sell any cryptocurrencies, digital assets, securities, or derivative instruments, or to make any investments. Any opinions or estimates are the best judgment of the research team as of the date of preparation and are subject to change without notice. Mobee is not obligated to update this report based on information and events that occurred after this report was created and published. Any suggestions or recommendations in this report may not be appropriate for certain users.