In the crypto market report covering the week of February 17-24 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 17, 2025.
February 17 Weekly Crypto Market Report Overview
The volatile yet sideways movement in crypto assets continues. Although Bitcoin has not been able to surpass the $98,500 level, it has also managed to stay above $93,000 despite negative developments and selling pressure, indicating a low-volume but strengthening trend. As a result, Bitcoin ended the week with only a 0.2% decline. Ethereum, on the other hand, appears to be consolidating within the $2,500–$2,860 range after experiencing a long-position liquidation at the $2,100 level in early February. Despite negative news on Friday, Ethereum’s ability to hold above $2,600 and close the week with a 2% gain is considered a positive sign. However, this strength has not been reflected in altcoins. Apart from Maker, OM, ACH, and PNUT, no other altcoins managed to finish the week in positive territory.
On the macroeconomic front, the upcoming U.S. GDP and inflation (PCE) data this week could influence the markets. The overall sentiment suggests that investors are still waiting for Trump’s decision regarding China, which is expected to have the most significant impact on market pricing. Additionally, new reports of coronavirus cases from China have contributed to negative market pressure. While no concrete information has emerged yet, if such a scenario materializes, it could trigger larger sell-offs.
Looking at the internal dynamics of the crypto market, the sentiment was relatively positive until Friday evening, when a $1.4 billion Ethereum hack on Bybit led to a negative price reaction. On a more positive note, aside from ongoing developments regarding altcoin ETFs and project-based news, the European Central Bank’s plan to utilize blockchain technology for new services is seen as a promising step for the crypto space. Regarding ETFs, the approval and registration processes for altcoin ETFs are still in progress, with Litecoin, Solana, and XRP ETFs expected to receive approval in 2025. In Ethereum ETF developments, the request from U.S. senators for clarification on the staking process is viewed as a positive step.
When examining capital flows into Bitcoin and Ethereum ETFs, Bitcoin ETFs experienced $559 million in outflows, while Ethereum ETFs saw a $1.5 million inflow. This provides a logical explanation for Ethereum’s positive momentum despite negative developments.
Those who want to get more comprehensive information about the week covering February 17 – 24 can review Weekly Crypto Market Reports: February 17, 2025.
