1. Crypto Market Last Week
The early days of the Year of the Wood Snake saw a sharp decline in the cryptocurrency market as Bitcoin unexpectedly plummeted from $106,400 to just $91,300, losing over 15% of its value. Meanwhile, the DOM index surged past 60%, causing most altcoins to drop by 20% to 40% within just a few days over the weekend.
The primary cause of this massive liquidation is believed to be concerns over an impending “trade war” between the U.S. and other major economies, triggering market panic and widespread sell-offs. More than $2 billion was liquidated in just 24 hours, leaving many investors fearful and eager to exit the market.
Related: Crypto Weekly (13/01 – 19/01): Donald Trump Launches Memecoin
Top 10 Gainers of the Week
Top 10 Losers of the Week
2. Crypto Market This Week
Token Unlock Schedule
This week, the market will continue to experience major token unlock events, with a total value of approximately $79.95 million, including:
- $XDC (2.81%) – $49.07M
- $NEON (22.35%) – $10.4M
- $GGP (11.79%) – $7.63M
- $AGI (2.42%) – $4.35M
- $MAVIA (19.90%) – $3.19M
- $SPELL (0.84%) – $2.23M
Macroeconomic News
Additionally, several key macroeconomic reports this week could have a significant impact on the market:
- Thursday (Feb 6) at 13:30 – Unemployment Claims data release. If the actual figures are higher than expected, the USD may face bearish pressure, and vice versa.
- Friday (Feb 7) at 13:30 – Non-Farm Payroll (NFP) report (measuring employment changes excluding the agricultural sector). If the actual figures exceed forecasts, the USD is likely to strengthen; otherwise, it could weaken.
