Crypto Weekly (12/02 – 18/02): Bitcoin Breaks ATH Since June 2022

Market Recap of Last Week

Closing out the previous week, Bitcoin prices returned to previous highs (around 48000 – 49000). Throughout the past week, Bitcoin continued its ascent and broke through recent highs as Bitcoin’s price has now reached 52000 (the highest since Luna’s crash in June 2022). This breaking of the ceiling is attributed to intense buying from Bitcoin ETF investment funds, with Bitcoin only about 60 days away from its halving.

BTC/USD Price Chart as of 1:27 AM on 19/2/2024

Another highlight of the past week was the layer-2 project Starknet announcing an airdrop event for the STRK token, which was met with strong community backlash due to harsh conditions and an unreasonable token allocation schedule.

Top 10 coins in the top 100 that experienced the highest increase in the past week

Source: Coinmarketcap

Top 10 coins in the top 100 that experienced the highest decrease in the past week

Source: Coinmarketcap

Summary of Significant News from Last Week

• TRON Announces Roadmap for Layer-2 Development on Bitcoin
• Uniswap Announces Launch Time for Uniswap v4 Version

Key Highlights for This Week

This week’s significant news will focus on Thursday, February 22, 2024, including:

• At 19:00 (UTC), the FOMC will release minutes from their meeting, detailing the content of their policy-setting meeting from about 3 weeks ago. Primarily, we will review the content and analyze the direction of the FOMC.

• At 13:30 (UTC), the US will release Initial Jobless Claims figures. In the most recent release (15/02), the figures were lower than expected, showing positive signals for the USD.

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