In the crypto market report covering the week of January 6-13 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: January 6, 2025.
Overview of the January 6 Weekly Crypto Market Report
Last The week was quite eventful in both economic data and crypto market developments. Data from the US and European economies provided critical signals in terms of growth and inflation outlook.
Germany’s CPI exceeded expectations with 0.40% on a monthly basis, recovering from the -0.2% decline in the previous period. It was observed that inflation in the Eurozone, which was 2.4% on an annual basis, was progressing in line with the ECB targets. Although the US Services PMI data fell short of expectations, it increased compared to the previous data and indicated that growth in the services sector continued. ISM Non-Manufacturing PMI and JOLTS Job Openings data also presented a strong economic picture. However, while the ADP Non-Farm Employment data fell short of expectations, the Non-Farm Employment data released on Friday exceeded expectations with 256K, indicating that the labor market remained strong. The unemployment rate fell below market expectations at 4.1%, confirming that the US labor market remains strong. On the energy side, the decrease in crude oil stocks pointed to weak demand. The FOMC meeting minutes provided limited new information on the Fed’s interest rate policy.
This week, inflation, growth and consumer spending-focused data will be at the forefront of the global economic calendar. The Producer Price Index (PPI) to be released in the US on Tuesday will be a critical piece of data in terms of assessing inflation pressures. The UK CPI data on Wednesday will show the BoE’s consistency in meeting its inflation targets, while the US CPI data to be released on the same day will guide the Fed’s monetary policy decisions. UK GDP growth, Germany’s monthly CPI and US retail sales data on Thursday will be important in terms of assessing global consumption dynamics and economic recovery. China’s GDP data, which is expected to show 5.00% growth on Friday, and the Eurozone CPI data will be closely monitored in terms of the course of global recovery and inflationary pressures. This week, data from the US, Europe and China may have a directional effect on the markets.
Last week, crypto markets saw intense activity. While DeFi protocols broke records in revenue growth, MakerDAO, Aave and Solana-based platforms showed remarkable performances. MicroStrategy announced that it aims to finance Bitcoin purchases with a $ 2 billion stock issuance plan. Solana increased its influence in the DeFi space by surpassing Ethereum and Base in daily decentralized exchange (DEX) trading volume. Sol Strategies provided a $ 25 million loan for Solana investments and increased its share value by 2000%. In addition, the US Department of Justice approved the sale of Bitcoins seized from Silk Road; Gemini Trust reached a $ 5 million settlement in the CFTC case. While South Korea announced that it plans to lift the ban on institutional crypto trading, the United Kingdom published a positive regulation for staking transactions. While the Bitcoin reserves of US-based institutions reached a record level, the Bitcoin price exceeded $ 108,000, reaching an all-time high.
Those who want to get more comprehensive information about the week covering January 6 – 13 can review Weekly Crypto Market Reports: January 6, 2025.
