In the crypto market report covering the week of January 27 – February 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 below and access all developments that took place in the 7-day period from Weekly Crypto Market Reports: January 27, 2025.
January 27 Weekly Crypto Market Report Overview
There were significant developments in the global economy and cryptocurrency markets last week. While economic data and policy decisions in the Asian, European and American regions affected general trends in the markets, regulations and new product launches stood out in the crypto sector. While the slowdown signals in the Chinese economy were clarified with manufacturing PMI data that came below expectations, strong new home sales in the US presented a mixed picture. The US Federal Reserve (FED) provided support to the markets by keeping interest rates steady, while Chairman Jerome Powell’s positive statements about cryptocurrencies drew attention. In Europe, while limited movement was observed after the European Central Bank meeting, the slowdown in Germany’s economic growth created concerns.
In the cryptocurrency sector, the Norwegian Wealth Fund’s increased exposure to Bitcoin through MicroStrategy investments and the SEC’s approval of a Bitcoin-Ethereum hybrid ETF increased institutional interest. In addition, the 37% increase in the number of active addresses on the Ethereum network showed growth in the sector. Bitwise’s application for a Dogecoin-themed ETF and Grayscale and CoinShares’ new ETF applications revealed that market innovations continue. However, President Donald Trump’s signing of a decree imposing high tariffs on imports from Mexico, Canada and China negatively affected crypto markets. In the markets that were open over the weekend, Bitcoin fell by more than 5% to $91,200, while major altcoins such as Ethereum, XRP and Solana experienced losses of 10-15%. This development stood out as the main reason for the sharp pullback in the markets.
In general, global economic data; While drawing a mixed picture with recession risks and slowing growth signals, the decisions of central banks will determine the course of the markets. In the crypto market, the acceleration of regulations and the expansion of institutional investments are among the promising developments. It is critical for investors to act carefully and strategically in both traditional financial markets and the crypto sector. The growth and inflation data to be announced this week, along with the statements from the European Central Bank, may increase volatility in the markets.
Those who want to get more comprehensive information about the week covering January 27 – February 3 can review the Weekly Crypto Market Reports: January 27, 2025.
