In the crypto market report covering the week of February 24 – March 3 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 24, 2025.
February 24 Weekly Crypto Market Report Overview
Cryptocurrencies had a rough start to the week following Donald Trump’s announcement of a 25% tari on European goods. As negative sentiment built up, prices dropped to $78,250, marking the lowest level since November 11, 2024. However, the weekend brought a major turnaround with a key development that reignited bullish momentum in the crypto market. Trump announced via his social media accounts that he favored SOL, XRP, and ADA and had given instructions regarding a reserve plan that would involve these projects. He later clarified that the reserve initiative would primarily be Bitcoin and Ethereum-based.
Following this announcement, Bitcoin surged to $95,000, while Ethereum climbed to $2,500. XRP saw a remarkable 30% increase, reaching $3.00, while Solana gained over 20%, rising to $180. ADA experienced the most dramatic move, skyrocketing 70% to $1.15.
On the macroeconomic front, last week’s most significant event was the U.S. inflation data. The PCE index met expectations, but the personal spending data came in significantly below forecasts. Markets reacted positively to this, boosting risk appetite. However, the USD strengthened, climbing from 106 to 107.5, following the tari news. Meanwhile, gold began a correction from $2,955, dropping to $2,830.
Looking ahead, this week’s key macro events include employment and PMI data, which could play a crucial role in shaping market trends.
The most anticipated event for crypto markets this week is the White House Crypto Summit on March 7. Another critical development is Arizona’s decision to hold Bitcoin reserves, which has further bolstered Bitcoin’s fundamental outlook. On the Ethereum side, changes within the Ethereum Foundation and progress on the Pectra upgrade are notable topics. Additionally, a major unlock event for ENA is drawing attention in the altcoin market.
ETF movements remained negative last week. Bitcoin saw a record $1.1 billion outflow on Tuesday, marking the largest single-day exit from BTC ETFs. Throughout the week, total outflows from Bitcoin ETFs reached $2.6 billion. Meanwhile, Ethereum ETFs experienced $335 million in outflows, potentially signaling the end of Ethereum’s multi-week positive momentum.
Those who want to get more comprehensive information about the week covering February 24 – March 3 can review Weekly Crypto Market Reports: February 24, 2025.
