Crypto Market This Week: Here’s What BTC & Altcoins Signal Amid Macroeconomic Heat
Highlights
- Crypto market faces severe heat amid macroeconomic developments.
- The US CPI and PPI data came in hotter than expected this week.
- The U.S. SEC acknowledged new ETF filings this week.
The crypto market closes yet another week, primarily facing turbulence due to macroeconomic events. However, Bitcoin (BTC) and altcoins have shown resilience, preventing further downside price momentum in the past seven days. Notably, despite hot U.S. CPI and PPI data, as well as Trump’s new tariffs, crypto prices have shown signs of a potential recovery brewing, sparking investor optimism globally.
Let’s take a closer look at some of the top crypto market updates reported by CoinGape Media over the past week.
Crypto Market Faces Macroeconomic Heat: What’s Happening?
The global cryptocurrency landscape faces severe turbulence this week, primarily against the backdrop of key U.S. macroeconomic data. Notably, the CPI data for January came in hotter than expected this week, at 3% YoY.
Moreover, even the PPI came in hotter than expectations, at 3.5%. In turn, risk assets such as crypto have showcased a sluggish performance over the past week.
Also, Donald Trump’s new tariffs have birthed severe concerns about a global trade war approaching. As a direct response to the abovementioned factors, BTC and altcoins faced massive turbulence over the past seven days. BTC price saw a highly fluxing action, closing in at $97K, up marginally by 0.5% in the past seven days. Simultaneously, ETH gained slightly by 1% over the past week, closing in at the $2.700 level. Crypto traders and investors continue to stay cautious over digital asset prices amid broader macro developments, although coins closed the week trading in the green.
Can BTC & Alts Gain Ahead?
Simultaneously, despite the broader market heat, recent ETF-related developments have sparked market curiosity over an approaching bull run for some leading altcoins. Although BTC remains much-eyed by investors, it’s worth taking into account some other coins that showcase the potential for growth.
Notably, XRP emerged as another hot buzz this week as the U.S. SEC acknowledged Grayscale and 21Sahares’ XRP ETF filing. Further, the optimism surrounding a SOL and DOGE ETF also skyshot amid the SEC’s acknowledgment of crypto-backed ETF filings. In turn, market participants remain highly optimistic about the crypto market’s future prospects.
In conclusion, although the digital asset sector faces severe turbulence this week due to macroeconomic events, traders and investors eye a bullish outlook ahead.
- CFTC, SEC Launch ‘New Era of Collaboration’ to Clarify Crypto Rules, End Regulation by Enforcement
- Senate Committee Finalizes Updated Crypto Market Structure Bill Draft, Release Expected In Days
- €648 Billion Nordea To Allow Customers to Trade Bitcoin-Linked ETFs
- Uphold Joins Gemini, Relaunches XRP Debit Card Following SEC Lawsuit Resolution
- Breaking: XRP Treasury Evernorth Debuts on Nasdaq Under XRPN Ticker After $1B Token Purchase
- Cardano Price Risks 20% Crash Amid Death Cross and Falling ADA ETF Odds
- Bitcoin Price Forecast as Trump Cuts Tariffs After US-China Trade Deal
- Analyst Foresees a Parabolic Rally for Pepe Coin Price as Whale Accumulation Intensifies
- Fidelity Amends S-1 for Solana ETF: Is SOL Price Set to Rally?
- Pi Coin Price Targets $0.65 as ISO 20022 Membership Boosts Institutional Confidence
- Ethereum Price Flips BTC in Strategy Shift, Eyes $4500 Level
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