Market situation last week
Over the past week, Bitcoin exhibited limited volatility, maintaining a price range of 41800 to 43200 from the beginning to the end of the week. This price stability reflects Bitcoin’s hesitation, with no clear signs of a significant price surge leading up to the Halving or a continuation of the adjustment following the dip from 49000 after the Bitcoin ETF news.
BTC/USD Price Chart as of 1:44 AM on January 29, 2024.
Despite Bitcoin’s sideways movement, most Altcoins experienced pronounced corrections during the week. Many Altcoins saw adjustments of several tens of percentage points, causing concern among numerous investors.
While many Altcoins were bleeding, there was a glimmer of joy for the Airdrop community as the Jupiter (JUP) project on Solana announced an airdrop for participants trading on this DEX platform. The Solana ecosystem continues to be a vibrant community within the crypto space.
Top 10 coins in the top 100 increased the most in the past week
Top 10 coins in the top 100 decreased the most in the past week
Summary of outstanding news last week
- FTX Consistently Sells Crypto Assets, Accumulating More Cash
- OKX To List Dmail (DMAIL) For Spot Trading
The recent sideways movement of BTC over the past few weeks may be partly attributed to the market awaiting interest rate news this week. Keep an eye on the following events:
1. Monday, February 5th, at 00:00 (UTC): Fed Chairman Powell will deliver a speech. As usual, focus on the content to anticipate upcoming Fed policies rather than engaging in trades during this time frame.
2. Thursday, February 8th, at 13:30 (UTC): First-time Unemployment Claims news will be released.
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