Week of May 20 - 26, 2025    

Bitcoin continues to steal the spotlight. JPMorgan now expects BTC to outperform gold in the second half of 2025, as capital keeps flowing out of gold ETFs and into Bitcoin ETFs. It’s a shift fueled by a wave of regulatory clarity and growing institutional confidence—two themes likely to underpin the crypto market’s next leg up.

Meanwhile, Ukraine is on the cusp of making history, moving to establish Europe’s first national Bitcoin reserve. Lawmakers are ironing out final legislative details after previous crypto-friendly bills were pulled amid regulatory concerns. If successful, Ukraine would set a precedent for the region’s adoption of digital assets at the state level.

Across Asia, UBS Group reports that high-net-worth investors are dialing down exposure to U.S. dollar-linked assets, citing ongoing geopolitical risk. Their sights? Crypto, gold, and Chinese equities—a telling sign of global asset rotation.

Network activity is also heating up. Bitcoin transaction fees have surged to $2.40, their highest point this year, signaling strong on-chain demand. Glassnode data shows illiquid BTC supply—coins held in long-term wallets—has hit a new record, further tightening available supply.

Ethereum, meanwhile, keeps making history. Stablecoin transaction volume on the network soared to $908 billion in April, reflecting a surge in institutional and corporate adoption. Ethereum remains the global leader for real-world stablecoin flows.

Not everything is moving at crypto speed, however. The U.S. Securities and Exchange Commission (SEC) has again postponed its decision on a Spot ETF for Solana (SOL), pushing the timeline to October 2025. Just last week, the SEC delayed a similar Litecoin ETF proposal, reinforcing the slower pace of regulatory progress for some altcoins.

Technical Analysis

Bitcoin (BTC)

Bitcoin is still in an upward trend. Any pullback near $98,000 is seen as a buying opportunity, with eyes on resistance at $110,000—where overbought signals may prompt profit-taking.

• Support: 3,250,000 THB / 98,000 USD
• Resistance: 3,700,000 THB / 110,000 USD 

Ethereum (ETH)

Ethereum has softened slightly but holds a bullish short-term trend. Watch for entry points above $2,100. First resistance is $2,900, and the medium-term target remains $4,000.

• Support: 70,000 THB / 2,100 USD
• Resistance: 96,000 THB / 2,900 USD

Ren Project (REN)

REN returned 22.06% this week, but volatility is high. Use stop-losses below $0.00885. Resistance stands at $0.01634.

• Support: 0.30 THB / 0.00885 USD
• Resistance: 0.60 THB / 0.01634 USD
  
  

EigenLayer (EIGEN)

EigenLayer gained 11.91%, hinting at a bullish reversal. If the price stays above $1.035 on dips, consider buying; below that, use a stop-loss. Resistance is $1.634.

• Support: 35 THB / 1.035 USD
• Resistance: 55 THB / 1.634 USD

Investment Trends

A softer U.S. CPI print at 2.3% could prompt earlier rate cuts from the Federal Reserve, even if markets haven’t reacted just yet. Moody’s recent U.S. credit rating downgrade adds pressure, but for Bitcoin, that’s bullish—another reminder of its appeal as a hedge in times of financial system stress.

Buying in altcoins, especially Ethereum, is picking up. Most of the speculative action is centered in meme coins, AI tokens, and next-gen DeFi, which are outpacing the broader market for now.

With a quiet week ahead for economic data, traders should stay alert to updates in U.S. trade and tax policy, as these could shape market momentum.

Investment strategy: Watch for Bitcoin sell-offs near resistance, but expect further upside if momentum holds. For altcoins, focus on Ethereum accumulation as signs point to a bullish reversal. With meme coins, patience is key—wait for pullbacks before considering entries.

Reference

• https://www.theblock.co/post/354496/jpmorgan-bitcoin-more-upside-gold-h2-2025
• https://www.cryptopolitan.com/ukraine-eyes-bitcoin-strategic-reserve/
• https://cointelegraph.com/news/ubs-asia-wealthy-invest-bitcoin-gold-china-dollar-diversification   
• https://www.theblock.co/post/354735/bitcoin-transaction-fees-hit-2025-highs-as-btc-price-challenges-recent-106000-top
• https://www.theblock.co/post/354134/ethereum-stablecoin-volume-hits-record-908-billion-as-institutions-tech-giants-and-trump-jump-in
• https://cointelegraph.com/news/sol-ltc-etf-delayed-polkadot-xrp-etfs-june-deadline  

Disclaimers

• Cryptocurrencies and digital tokens are highly risky; investors may lose all investment money. It is important to study information carefully and invest based on your own risk profile.
• Past returns or performance of digital assets do not guarantee future returns or performance. 

Remark: The views, information, knowledge, and opinions expressed herein are those of the individuals involved and do not represent the views of Bitazza or its employees. Neither this email nor the content presented constitutes investment advice.

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