In the crypto market report covering the week of February 3-10 prepared by the ICRYPEX Research team, we have compiled current developments regarding crypto assets, price movements of crypto assets and macroeconomics.
You can take a look at the general flow of this report immediately below and reach all the developments that took place in the 7-day period from Weekly Crypto Market Reports: February 3, 2025.
February 3 Weekly Crypto Market Report Overview
Past The week started with the volatility of Trump’s tariffs on Canada, Mexico and China, while all crypto assets experienced a major decline with the Asian opening, the postponement of Mexican and Canadian tariffs provided some positive pricing. Then, eyes turned to US employment data. In the data announced on Friday, Non-Farm Employment was announced below expectations, and despite the previous month’s data being revised upwards to 307,000, it was announced below expectations at 143,000 and provided a few hours of positive pricing in the markets. In return, the emergence of strong images in the Average Earnings and Unemployment Rate data caused us to see upward and downward movements and continued uncertainty in the direction.
The end of the Trump wind in crypto assets, the cooling of the news flow and the lack of new developments caused the pricing to switch to a negative image. After many positive developments expected in the short term since November were implemented by the Trump administration, a short-term saturation period seems to have been entered in crypto assets. The expected positive developments have not yet occurred for altcoins. We see that they have not been able to adapt to Bitcoin’s strong movement. This is causing even greater value losses in the altcoin group. In order for this image to improve, it seems that the expected ETF, regulations, developments and reserve developments that will re-establish the money inflow for altcoins are needed. Because while Trump’s effect on the general markets is negative, we see that his promises regarding crypto assets keep the price solid and while the agenda has cooled down, this negative market image also affects crypto assets badly.
In this process, Bitcoin fell back to $ 91,500 levels and rose to $ 100,000 levels during the week, but completed the week at $ 96,500. Ethereum, on the other hand, managed to complete the week above $ 2630 after falling back to $ 2090 levels. Bitcoin dominance rose above 64%, reaching its highest level since February 2021, but ended the week at 61.60%. Although crypto assets fell below $3 trillion in total market value, they managed to end the week at $3.1 trillion. When we examine ETFs, we see that demand for Ethereum ETFs is higher than Bitcoin, but the inflows did not have a clear effect on either side. Bitcoin ETFs managed to receive a total inflow of $200 million, while Ethereum ETFs managed to receive a total inflow of $400 million.
Developments to follow for crypto assets in the coming week seem to be the possible Trump-Xi Jingping, Powell’s testimony and US inflation data. In particular, the Trump-China meeting and the taxation decision to be issued may cause major movements. Apart from these, there are no other developments other than unlocks in altcoins and some minor developments for crypto assets.
Those who want to get more comprehensive information about the week covering February 3 – 10 can review the Weekly Crypto Market Reports: February 3, 2025.
