MARKETS week ahead: February 3 – 9
Last week in the news
The week was full of macro news and some surprises in the AI field coming from China. Also the spooky word “tariffs” is back on the Presidential table in the US. Markets are ending this week with a mixed sentiment and concerns over a tariffs potential impact on the inflation and future Fed moves. The US equity market ended the Friday's trading session lower, with S&P 500 ending the week modestly above the 6K level. Tariffs supported the price of gold to reach a new ATH above the $2,8K, while US Treasury yields reverted to the higher grounds at Friday's trading session, closing the week at 4,54%. The crypto market is struggling to hold ground, with BTC managing to end the week above the 101K.
Central bankers had a pretty busy week. The Fed left interest rates unchanged, as expected. Some of the topics, Fed Chair Powell mentioned was that inflation remained solid on the goal of 2%, but remained a bit elevated, the job market is cooling down and the economic activity continues to expand at a solid pace. Housing sector weakness seems to be stabilized. As expected, the first question from journalists in a press conference after the FOMC meeting, came with respect to President Trump's address in Davos, where he noted the request to decrease interest rates immediately. Fed Chair Powell provided a clear answer that it would be inappropriate to make any comments to addresses of the US President, but he is certain that the Fed will continue its job and fulfil its mandate.
The ECB decreased reference interest rates by 25 bps, as widely expected by market participants. As inflation is gradually slowing down in the EuroZone, the pain of the economic slowdown continues to hold. As per policy statement, there has not been almost any change from its December statement. Still, the majority of analysts are of the opinion that the ECB would need to cut significantly in the coming period, considering the ongoing weakness in the EuroZone economy.
A huge surprise hit the market on Monday, when China released a new AI powered tool, called DeepSeek. The initial news was that this program is much superior in relation to other similar tools. Another issue for the tech industry was that the program was released by a privately owned Chinese company with funds of only $6 million. Within a day from its release, DeepSeek hit number one download app on the Apple store. This was a huge alarm to US companies, and a wake-up call to increasing competition coming from the rest of the world. The shares of tech companies started the week in negative territory, while Nvidia was hitted the most, with a drop of $600 billion in the value of the company.
A spooky word “tariffs” is back in the wording of the US Administration. First in line are Canada and Mexico. As announced by the US President, the tariffs of 25% on imported goods will come into effect on Saturday and will not include oil. The simple rationale for such a measure is a huge US deficit with these countries, as per President Trump. In response to these measures, the Bank of Canada cut interest rates to 3% this week.
Surprising news is coming from the National bank of the Czech Republic. As news is reporting, its Governor, Ales Michl, stated that the CNB could create a part of national reserves which will be held in cryptocurrencies. This idea will be presented to the National bank Board next week. He also noted that the Bank could hold up to 5% in Bitcoin. At the same time, ECB President Lagarde commented that ECB will not hold any crypto coins on its balance sheet.
Crypto market cap
Previous week did not start well on financial markets. The news “out of nowhere” hit the market that the Chinese start up company DeepSeek took over the first place on the Apple store as the app with the most downloads. Although this app does not have any impact on crypto coins, still, the market reacted in a negative manner. The rest of the week, the crypto market tried to consolidate, but it still ended the week with a small loss in its total market capitalization. It has decreased by 4% on a weekly basis, losing around 160B in value. Daily trading volumes remained relatively flat on a weekly basis, moving around 200B daily. Total crypto market cap increase from the end of the previous year currently stands at 4%, where 140B has been added.
Most of the coins on the market ended the week in red. BTC led the market with a drop of 3,5% w/w, losing total 74B in value. Ether followed the path of BTC, with a weekly loss of $17,5B or 4,4%. Previously, XRP was holding relatively solid, however, during this week, the coin lost almost 12B in the market cap, decreasing it by 6,7%. Solana was again one of the highest weekly losers, with a drop in value of $18,2B or 14,7%. DOGE was in SOLs club, with a weekly drop of 11.2% or $5,8B in value. Still, speaking in relative terms, TRUMP was the coin with a significant weekly drop of 33,4%. Interestingly, Monero and Polygon were rare coins which finished the week in a positive territory. Monero managed to gain 6,3% on a weekly basis, while Polygon increased its value by 11,5%, but at the same time, the coin decreased the number of its coins on the market by 19,3% within the single week.
Crypto futures market
Although the spot market was relatively volatile during the previous week, there were some interesting developments on the crypto futures market. In line with the spot market, BTC futures closed the week by more than 3% higher from the end of the week before. On a positive side is that long term futures are still holding at relatively higher levels. Futures maturing in December this year closed the week at the level of $110.280 and those maturing a year later were last traded at $119.880.
ETH had a weekly drop in value of 4,3%, however, ETH futures ended the week almost flat compared to the week before. Futures maturing in December this year closed the week at $3.559, and those maturing in December 2026 were last traded at $3.823.
The week was full of macro news and some surprises in the AI field coming from China. Also the spooky word “tariffs” is back on the Presidential table in the US. Markets are ending this week with a mixed sentiment and concerns over a tariffs potential impact on the inflation and future Fed moves. The US equity market ended the Friday's trading session lower, with S&P 500 ending the week modestly above the 6K level. Tariffs supported the price of gold to reach a new ATH above the $2,8K, while US Treasury yields reverted to the higher grounds at Friday's trading session, closing the week at 4,54%. The crypto market is struggling to hold ground, with BTC managing to end the week above the 101K.
Central bankers had a pretty busy week. The Fed left interest rates unchanged, as expected. Some of the topics, Fed Chair Powell mentioned was that inflation remained solid on the goal of 2%, but remained a bit elevated, the job market is cooling down and the economic activity continues to expand at a solid pace. Housing sector weakness seems to be stabilized. As expected, the first question from journalists in a press conference after the FOMC meeting, came with respect to President Trump's address in Davos, where he noted the request to decrease interest rates immediately. Fed Chair Powell provided a clear answer that it would be inappropriate to make any comments to addresses of the US President, but he is certain that the Fed will continue its job and fulfil its mandate.
The ECB decreased reference interest rates by 25 bps, as widely expected by market participants. As inflation is gradually slowing down in the EuroZone, the pain of the economic slowdown continues to hold. As per policy statement, there has not been almost any change from its December statement. Still, the majority of analysts are of the opinion that the ECB would need to cut significantly in the coming period, considering the ongoing weakness in the EuroZone economy.
A huge surprise hit the market on Monday, when China released a new AI powered tool, called DeepSeek. The initial news was that this program is much superior in relation to other similar tools. Another issue for the tech industry was that the program was released by a privately owned Chinese company with funds of only $6 million. Within a day from its release, DeepSeek hit number one download app on the Apple store. This was a huge alarm to US companies, and a wake-up call to increasing competition coming from the rest of the world. The shares of tech companies started the week in negative territory, while Nvidia was hitted the most, with a drop of $600 billion in the value of the company.
A spooky word “tariffs” is back in the wording of the US Administration. First in line are Canada and Mexico. As announced by the US President, the tariffs of 25% on imported goods will come into effect on Saturday and will not include oil. The simple rationale for such a measure is a huge US deficit with these countries, as per President Trump. In response to these measures, the Bank of Canada cut interest rates to 3% this week.
Surprising news is coming from the National bank of the Czech Republic. As news is reporting, its Governor, Ales Michl, stated that the CNB could create a part of national reserves which will be held in cryptocurrencies. This idea will be presented to the National bank Board next week. He also noted that the Bank could hold up to 5% in Bitcoin. At the same time, ECB President Lagarde commented that ECB will not hold any crypto coins on its balance sheet.
Crypto market cap
Previous week did not start well on financial markets. The news “out of nowhere” hit the market that the Chinese start up company DeepSeek took over the first place on the Apple store as the app with the most downloads. Although this app does not have any impact on crypto coins, still, the market reacted in a negative manner. The rest of the week, the crypto market tried to consolidate, but it still ended the week with a small loss in its total market capitalization. It has decreased by 4% on a weekly basis, losing around 160B in value. Daily trading volumes remained relatively flat on a weekly basis, moving around 200B daily. Total crypto market cap increase from the end of the previous year currently stands at 4%, where 140B has been added.
Most of the coins on the market ended the week in red. BTC led the market with a drop of 3,5% w/w, losing total 74B in value. Ether followed the path of BTC, with a weekly loss of $17,5B or 4,4%. Previously, XRP was holding relatively solid, however, during this week, the coin lost almost 12B in the market cap, decreasing it by 6,7%. Solana was again one of the highest weekly losers, with a drop in value of $18,2B or 14,7%. DOGE was in SOLs club, with a weekly drop of 11.2% or $5,8B in value. Still, speaking in relative terms, TRUMP was the coin with a significant weekly drop of 33,4%. Interestingly, Monero and Polygon were rare coins which finished the week in a positive territory. Monero managed to gain 6,3% on a weekly basis, while Polygon increased its value by 11,5%, but at the same time, the coin decreased the number of its coins on the market by 19,3% within the single week.
Crypto futures market
Although the spot market was relatively volatile during the previous week, there were some interesting developments on the crypto futures market. In line with the spot market, BTC futures closed the week by more than 3% higher from the end of the week before. On a positive side is that long term futures are still holding at relatively higher levels. Futures maturing in December this year closed the week at the level of $110.280 and those maturing a year later were last traded at $119.880.
ETH had a weekly drop in value of 4,3%, however, ETH futures ended the week almost flat compared to the week before. Futures maturing in December this year closed the week at $3.559, and those maturing in December 2026 were last traded at $3.823.
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