Altcoin
Here’s What BTC & Altcoins Signal Amid Macroeconomic Heat
The crypto market closes yet another week, primarily facing turbulence due to macroeconomic events. However, Bitcoin (BTC) and altcoins have shown resilience, preventing further downside price momentum in the past seven days. Notably, despite hot U.S. CPI and PPI data, as well as Trump’s new tariffs, crypto prices have shown signs of a potential recovery brewing, sparking investor optimism globally.
Let’s take a closer look at some of the top crypto market updates reported by CoinGape Media over the past week.
Crypto Market Faces Macroeconomic Heat: What’s Happening?
The global cryptocurrency landscape faces severe turbulence this week, primarily against the backdrop of key U.S. macroeconomic data. Notably, the CPI data for January came in hotter than expected this week, at 3% YoY.
Moreover, even the PPI came in hotter than expectations, at 3.5%. In turn, risk assets such as crypto have showcased a sluggish performance over the past week.
Also, Donald Trump’s new tariffs have birthed severe concerns about a global trade war approaching. As a direct response to the abovementioned factors, BTC and altcoins faced massive turbulence over the past seven days. BTC price saw a highly fluxing action, closing in at $97K, up marginally by 0.5% in the past seven days. Simultaneously, ETH gained slightly by 1% over the past week, closing in at the $2.700 level. Crypto traders and investors continue to stay cautious over digital asset prices amid broader macro developments, although coins closed the week trading in the green.
Can BTC & Alts Gain Ahead?
Simultaneously, despite the broader market heat, recent ETF-related developments have sparked market curiosity over an approaching bull run for some leading altcoins. Although BTC remains much-eyed by investors, it’s worth taking into account some other coins that showcase the potential for growth.
Notably, XRP emerged as another hot buzz this week as the U.S. SEC acknowledged Grayscale and 21Sahares’ XRP ETF filing. Further, the optimism surrounding a SOL and DOGE ETF also skyshot amid the SEC’s acknowledgment of crypto-backed ETF filings. In turn, market participants remain highly optimistic about the crypto market’s future prospects.
In conclusion, although the digital asset sector faces severe turbulence this week due to macroeconomic events, traders and investors eye a bullish outlook ahead.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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