Crypto Weekly | February 24, 2025 📈
Crypto Weekly in Review – Stay Ahead of the Curve 💥💰
Hey there, Crypto Enthusiast! 🌐👋
Welcome to this week’s Crypto Weekly, where we break down the biggest news, market movements, and institutional shifts. Let’s dive into the latest happenings in the ever-evolving world of crypto! 🚀
🚨 Big News & Market Movers
Bybit Suffers a $1.5 Billion Hack 💣
In a shocking twist, Bybit, one of the major crypto exchanges, was targeted by the Lazarus Group, the notorious North Korean hacking collective. The breach led to a loss of $1.5 billion in Ethereum stocks from Bybit’s Safe wallet. Though the hack sent shockwaves through the market, CEO Ben Zhou’s calm leadership reassured traders that Bybit remained solvent, and liquidity was quickly supported through backstops. This event is bigger than the infamous Mt. Gox hack of 2024, but Bybit’s crisis management is setting a new standard for handling such incidents.
Hong Kong’s Bold Crypto Plans 🌏
Hong Kong is on a mission to become the ultimate global crypto hub! The Securities and Futures Commission (SFC) revealed its ASPIRe roadmap, opening doors for new token listings, derivatives, and staking opportunities. This move aims to foster a thriving crypto ecosystem, attracting both institutional investors and innovators alike.
FTX Takes Steps Toward Recovery 💸
In a long-awaited move, FTX has begun the repayment process, starting with $1.2 billion and a total of $16 billion planned for the future. This milestone marks a significant step toward rebuilding trust in the crypto space as creditor repayments officially kick off in February 2025.
Institutional Interest Surge 🚀
Metaplanet increased its Bitcoin holdings to 2,100 BTC, signaling growing confidence in the flagship cryptocurrency.
Franklin Templeton has entered the crypto space with a Bitcoin and Ether index ETF.
Coinbase has now partnered with Aston Martin as its official sponsor for Formula One—paid in USDC stablecoins!
Crypto-Sports Deals on the Rise 🎮🏆
The intersection of crypto and sports is booming, with 22 crypto-sports deals inked in 2025, averaging $4.3 million each. This is a substantial increase compared to last year's 18 deals averaging $2.6 million. Crypto is clearly making its mark in the sporting world!
📊 Market Update & Technicals
BTCUSD Price Action 📉
After the Bybit hack news broke, BTCUSD dipped from $99,000 to ~$95,000, with fears of ETH selling and broader market contagion risks. However, the market response was relatively subdued, signaling a more mature market.
Key Price Levels for BTC: 66,000 / 72,000 / 92,000 / ~110,000 (approaching all-time highs).
Ethereum’s Recovery Post-Hack 🔑
Following the Bybit hack, Ethereum saw a significant drop of nearly 8%, but unlike previous years, the recovery wasn’t as chaotic. This signals a more stable market, even in the face of large-scale hacks.
Gold & USD Trends 🏅
As global uncertainty remains, gold continues to outperform, climbing higher as a safe-haven asset. Meanwhile, the USD index (DXY) has entered correction territory, hinting at potential shifts in risk appetite across global markets.
Solana Gaining Institutional Interest 🚀
Despite recent struggles, Solana (SOL) is getting a boost from institutional interest. Franklin Templeton filed for a Solana spot ETF, which could attract significant capital inflows if approved.
🔮 What’s Coming Up?
Keep your eyes on these key events shaping the market in the coming days:
Australian CPI (Jan) – Wednesday, Feb 26: Expected to confirm inflation remains within the Reserve Bank of Australia’s 2-3% target range.
US PCE (Jan) – Friday, Feb 28: This critical inflation data may influence the Fed’s decision on a mid-year rate cut.
ECB Minutes (Feb 27) – Insights on the European Central Bank’s stance on inflation and potential rate cuts.
Japanese CPI (Feb 27) – Markets will monitor core inflation numbers to gauge the Bank of Japan’s tightening path.
China NPC Standing Committee (Feb 24-25) – Focus on potential stimulus measures and support for the private sector.
🔍 Looking Ahead
As we wrap up this week’s roundup, the market remains cautiously optimistic. While the Bybit hack has left a mark, the swift recovery and growing institutional backing suggest that the space is maturing. We’re in a waiting game for the next big catalyst—could it be another institutional move, or will market sentiment shift again? Stay tuned as the story continues to unfold!
💡 Your Crypto Weekly Update
Until next week, keep an eye on the market, stay informed, and always be prepared for the next move!
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